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Santa Barbara Real Estate through the end of September 2016

Santa Barbara Real Estate through the end of September 2016
Wow! We’re Finally in the Homestretch…But Before We Make Our Final Prognostications for the Year, Let’s Review the Backstretch. Here’s a Close Look at the Market for Homes & Condo’s, from Carpinteria to Goleta YTD (year to date).

September 2016 had a total of 100 Homes Sold, Total List Volume of those Homes was $169,371,000. Median List Price was $1,237,000, Median Sold Price was $1,200,000, DOM (days on the market) 69. The SP/LP (selling price to list price) was 92.13%.
 
Looking Back to September 2015 we had 98 Homes Sold, the List Volume was $149,885,000, the Median Sold Price was $1,044,000, DOM 35, and SP/LP was 96.13%.

Year Over Year the Big Differences Were Twice as Long on the Market but an Increase of More than $150,000 in the Median Sold Price. A Tidy Jump of Almost 9%. Isn’t Real Estate a Great Investment!

There were 39 Sales up to $1Million and 61 in the $1 to $6 Million+ Range. The Highest Price Home was $6,367,500 in Montecito at 3551 Padaro Lane, The Lowest Price Home was $500,000 in Goleta at 6025 Suellen Court.

              
              
              
 
As Far as Which Parts of Town are Up or Down Compared to Last Year the Following Charts Will Show You Some Interesting Differences in Where the Action is. I’ve Thrown in the Last 8 Years to Show the Inventory Status and Pricing for the Last 16 Years.
 
              
              
              
              
 
September 2016 had a Total of 46 Sold Condo’s with the Median List Price at $589,750, the Sold Price at $583,500, and Total Sold Volume at $35,394,000. The DOM was 68, the SP/LP was 95.34%.

The Highest Priced Condo was $3,300,000 in Montecito at 3 Seaview Drive, the Lowest Priced was $320,000. Look at the Steady Rise in the Median Sales Price Over the Last 5 Years…

 
              
 
At the End of the Day 2016 Has and Continues to Shape up Nicely. The Santa Barbara Trends Are Clear…Prices Continue to Rise Based for the Most Part on Tight Inventory. Except for a few Small Custom Developments, No New Construction in Carpinteria, Montecito, Santa Barbara is a Picture Driven by the Mountains and Sea. If We Add in Uncertain Water Availability, it Makes for a Continuing Rise in Prices. Goleta, Driven by Increasing Enrollments at UCSB, is showing signs of New Projects but Once Again Some of those are Problematic. As One Generation Begins to Move on, another is Thinking Twice Before Leaving their Single Level Easy Living Homes in Santa Barbara.

Is It a Good Time to Sell? Once Again, if Your Home Has Been Fixed up, Shows Great and is a Single Level You Shouldn’t have any Problems Selling in Today’s Market.

The Solid Base of Financial Support Underlying the Current Home Prices is an Indicator of Rising Prices. At Some Point the Millennials Will Join the Market, the Election Will Finally Be Over and the Future Will Be Looking Rosy.

For a Superior Real Estate Experience Call Me, I’ll Make Sure Your Next Step is a Solid One.

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