For Those of You Who Feel the Grinch Stole Christmas and New Year’s and the Whole Beginning of 2018… it’s Time to Sit Back for a Minute and Review how all this and More Has Impacted Real Estate in our Beautiful Seaside Towns. Here’s a Close Look at Homes and Condo’s from Carpinteria to Goleta:
January 2018 had a Total of 54 Houses Sold. Total Sold Volume $96,000,000. Median List Price $1,512,000. Median Sold Price $1,477,499. CDOM (cumulative days on the market) 120. The SP/OLP (selling price to original list price) was 96%. There’s a Total of 92 Pending.
Looking Back to January 2017 we had 70 Houses Sold. The Total Sold Volume $110,366,063, the Median List Price $1,024,500, the Median Sold Price $1,020,500. CDOM was 121 and SP/LP 93%. There was a Total of 91 Pending.
There were 20 Sales Up to $1 Million and 30 in the $1 to $5+ Million Range. The Highest Price House was $5,400,000 at 940 Via Tranquila in the Beautiful Hope Ranch Area. The Lowest Priced House was $660,000 at 1114 San Pascual St. in the Bustling Westside.
Looking at these Three Charts One Sees a Small Drop in the Median List Price and Number of Sales but the Sales Prices of Houses Continue an Upward Trend that Hasn’t Changed in the Past Two Decades of Chart Watching, from 2001 when the Median Sales Price of a House in Our Magic Kingdom was $567,500.
These Charts Give Us Insights into How the Marketplace Often Self-Corrects… Areas that Have a Shortage of Available Inventory Prices Are Rising, Areas that Got a Little Ahead of the Market Dropped Back. Active Listings Throughout SB are Off by Almost 100 Units from the Same Period in 2017. Depending on the Neighborhood, the Street and How a House Shows (always) the Market Has Shifted Back into the Hands of the Sellers.
Moving Over to the Condo Market One Sees that while the Number of Condos Available Has Slipped the Sales Prices Haven’t. January 2018 had a Total of 23 Sales with the Median List Price of $589,000, a Sold Price of $570,000 and a Total Volume of $16,810,890. The CDOM was 56, the SP/LP was 98%. Compared to January 2017 there were 7 Less Sales and the Median Sold Price was $560,000.
The Highest Price Condo was $2,489,000 at 401 Chapala St. in the Vibrant Downtown SB Area. The Lowest Price Condo was $340,000 at 5518 Armitos Ave. in the Heart of Goleta.
Economic Forces… Jobs and Wages, Household Finances, Global Economies and the Inexorable Rise in Population Has Pushed Sales of Existing Homes in America to its Highest Level in 11 Years. Home Construction Has Accelerated to its Fastest Pace in a Decade (although not in our cloistered haven), Interest Rates Are Still at Historic Lows… If I Was Looking for Another Investment, I Would Invest in Real Estate!
And So My Friends at the End of the Day… We Must Give Thanks for Our Health, Our Families and the Community We Love Which Has Just Gone Through a Terrible Tragedy…
If You’re Looking for a Realtor at the Top of Her Game… Call Me.
