Santa Barbara Real Estate Voice » Market Statistics / Updates

2011 Santa Barbara Real Estate Market Wrap up for The Peabody Elementary School District

kevinschmidtchen — Fri, 13 Jan 2012 04:07:00 +0000

The main areas for the Peabody Elementary School District encompass the neighborhoods of San Roque, some of the Santa Barbara Foothills and a stretch of Downtown Santa Barbara West of State Street. For many people here in Santa Barbara, San Roque has become one of the quintessential “family neighborhoods” and has often been voted for as “Best Neighborhood” in a local paper’s poll.

Much of the housing in The San Roque area consists of older character single family homes. Many of these homes are smaller in size running in the 900 to 1400 sqft range, although there are plenty of larger homes as well. One of the big draws to this area though is the Peabody school, proximity to downtown and uptown, the “family feel” the weather and the many varied styles of homes, colorful homes, character homes, etc.

In San Roque, the average price for a single family home tends to be between $600,000 and 1.1 million, but prices can easily go up to $2 million for the nicest homes. Additionally there are also some true fixers and /or smaller homes in the $600,000 to $700,000 range.

In the Downtown part of the Peabody School District you have a mixture of older homes, condos, duplexes and everything that you get from Downtown. Most of these homes also tend to range in price from $600,000 to $1.1 million.

The Santa Barbara Foothills part of Peabody School will be a mixture of view homes, homes with decent land etc. Because of the big variety, homes here will range generally from $900,000 to $3 million.

Peabody School Map

In 2011, there were a total of 72 closed sales in the Peabody School District ranging in price from $325,000 to $2.18 million. The cheapest single family home that sold in the San Roque area was a 2 bed 1 bath home located at 3039 Lucinda Lane that sold for $500,000. This was by far one of the best deals of the year in my opinion. The most expensive home was a stunning craftsman home built in 1910 located at 2685 Puesta del Sol that sold for $2.18 million.

Peabody School District Home Santa Barbara

Santa Barbara Real Estate Peabody School

Currently as of today there are 27 homes active for sale and 15 homes pending sale. The active homes for sale range in price from $300,000 for a condo up to $3.3 million for a wonderful older estate on a nice larger property behind The Mission.

View: Current Active Real Estate Listings Peabody School District

Further Reading:

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Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.

For more information on Real Estate here in Santa Barbara, Montecito and/or our surrounding areas, as well as any other aspects of life in the Santa Barbara area, please don’t hesitate to contact Kevin Schmidtchen at Sotheby’s Int’l Realty.

Santa Barbara Real Estate Benefits From Fixed Mortgage Rates Continuing Near Record Lows For 6th Straight Week

kevinschmidtchen — Thu, 08 Dec 2011 17:09:46 +0000

This weeks average rate on the 30-year fixed mortgage continued to hover just above its record low. Freddie Mac reported this week that the rate on the ever popular 30-year home loan sat just below 4% at 3.99%. The record low for the 30-year mortgage rate was set about 9 weeks ago when it dropped to 3.94%.

The average rate of the 15-year fixed mortgage has been sitting around 3.27 %, down from 3.30 % the last few weeks. The record low for the 15-year mortgage rate was also set about 9 weeks ago at a low of 3.26 %.

Here in Santa Barbara, these low rates are helping to continue a fairly strong real estate market.

If you talk to most people in the business as well as active buyers and sellers, the overall thoughts are that the market is very steady with “lot’s pending and closing”. Buyers know the price points and when a home comes on the market that is priced well (at market), it seems to be going into escrow on average anywhere from 1-6 weeks after being listed. Some homes are coming on and even getting 2-3 offers in the first week.

The hottest part of the market seems to be in the lower end from around $300,000 to $750,000. Often we are seeing these well priced homes sell within 1-2 weeks. The second hottest part of our real estate market is then from around the $750,000 to about $1.5 million. I would then say that the slower part of our market seems to be in the $1.5 to $3 million price point, mainly because of lack of new inventory.

View: Santa Barbara Real Estate Listings $750,000 to $1.5 million

View: Santa Barbara Real Estate Listings $250,000 to $750,000

Further Reading:

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Search: The Santa Barbara Area MLS

For information on Real Estate here in Santa Barbara, Montecito and/or our surrounding areas, as well as any other aspects of life in our area, please don’t hesitate to contact Kevin Schmidtchen at Sotheby’s Int’l Realty.

2011 Santa Barbara Real Estate Market for The Adams Elementary School District

kevinschmidtchen — Mon, 05 Dec 2011 19:13:35 +0000

The main areas of the Adams Elementary School District encompass the neighborhoods of Samarkand, San Roque Gardens and Hidden Valley. All 3 of these areas in Santa Barbara would be considered by most “family neighborhoods”. Most of the housing in these 3 areas are single family homes, but there are definitely a few condo and apartment complexes as well as some scattered income properties (duplexes / triplexes).

In the Samarkand area of the Adams School District, the average price for a single family home tends to be between $700,000 and 1.1 million. So far this year (through the end of November) there have been 10 Closed Sales in this area ranging in price from $510,000 to $1.24 million. Currently as of today there are 4 homes pending sale and 6 Active homes for sale. The active homes for sale range in price from $500,000 to $1,575,000.

In the San Roque Gardens area of the Adams School District, the average price for a single family home tends to be between $500,000 and $750,000. This is a smaller area than Samarkand and prices also tend to be more uniform. So far this year (through the end of November) there have been 4 Closed Sales in this area ranging in price from $255,000 (a condo) to $607,000. There are currently 2 condos pending sale as well as 2 Active homes for sale in the $950,000 price point.

In the Hidden Valley area of the Adams School District, the average price for a single family home varies greatly as the area has some distinct changes. Prices for single family homes can be as low as $550,000 and as high as $1,900,000. So far this year (through the end of November) there have been 10 sales in the area ranging in price from $475,000 to $790,000. Currently there are 3 homes pending sale as well as 5 currently Active for sale. The active homes for sale range in price from $500,000 to $1.9 million.

Adams School District Boundary

View: All Real Estate Listings in Adams School

Further Reading:

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Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.

2011 Santa Barbara Real Estate Sales for Campanil Hill – Braemar – Yankee Farm

kevinschmidtchen — Wed, 23 Nov 2011 17:14:18 +0000

In the semi secluded private feeling neighborhoods of Yankee Farm / Braemar and Campanil Hill, there has been a normal amount of real estate activity and sales in 2011. Usually this area only sees on average around 4-6 transactions per year. So far in 2011, there has been the “usual” with 4 closed sales as well as 1 current pending sale.

Braemar Yankee Farm Campanil Hill Real Estate - Santa Barbara

There are currently 3 active homes for sales on the market:

3359 Braemar Drive is a California Hacienda sitting on just shy of 1.5 acres. It is a beautiful home and has wonderful landscape and has been successfully used as a vacation rental in previous years. The current list price is $2.65 million, down from an original list price of just over $3 million.
3215 Campanil Hill is a newly listed home priced at $4,495,000. It is a wonderful French style estate with decent ocean views and seemingly designed for entertaining.
The highest priced home is located at 3349 Cliff Drive with an asking price of $6.99 million. The home has been on the market though for a few years.

Santa Barbara Real Estate - Campanil Hill

Both of the beautiful Mediterranean Estates overlooking the ocean that sit between Cliff Drive and Marina Drive as you ride into Hope Ranch sold this year. Sales prices for these magical estates were $4.65 million and $4.825 million.

View: All Current Active listings in Santa Barbara MLS from $1.5 million to $7 million

Further Reading:

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Search: The Santa Barbara Area MLS

Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.

Santa Barbara Real Estate – Montecito Real Estate Market Update 3rd Quarter 2011

kevinschmidtchen — Thu, 17 Nov 2011 23:36:56 +0000

Where is the Montecito real estate market as we approach the last few months of 2011? A quick glance back throughout the year with regards to real estate in Montecito has shown up and down changes almost monthly. Some months the market feels very strong, other weeks there seems to be a lull etc. As I talk and share with many agents currently about their buyers and where they are at, their thoughts seem to also change monthly with some high end clients on hold while others don’t know where else they would put their money these days except to buy real estate.

With all that said, sales have continued to happen and most all homes that are priced well and at market are getting offers.

Here is a quick check of where Montecito Real Estate was for the 3rd quarter.

Closed Sales in the Montecito Area

During the 3rd quarter, Montecito had approximately 55 Closed sales of single family homes and town homes / condos. The lowest priced sale naturally was a town home located at 1932 North Jameson Lane that sold for $533,000. The lowest single family home sale recorded was an older small cottage located directly on East Valley Road that closed for $825,000.
The highest recorded sale was an ocean front “fixer” located at 1473 Edgecliff Lane that closed in 1 day for $10,750,000. This is once again a representation across all price points that if a home is priced well, there are buyers waiting.
The majority of all sales in Montecito seem to now be between the $1 and $3 million price point. Whereas $3-5 million was the heart of all sales only 3 years ago, the “average home” in Montecito now seems to be selling somewhere in the $1.5 to $3 million price point.

Montecito Ocean View Homes - Kevin Schmidtchen Realtor

Current Active Homes for Sale in Montecito

Currently as of November 1st, 2011, there are approximately 235 homes available for sale or pending sale in the Montecito area. The lowest priced available home is once again a town home located on North Jameson whereas the lowest single family homes available are priced mainly between $850,000 and $1.2 million.
Currently there are 15 active homes for sale priced above $15 million in Montecito.

Montecito Real Estate - Santa Barbara

Montecito Luxury Real Estate - Santa Barbara

Montecito High End Real Estate Homes for Sale - Kevin Schmidtchen

Montecito is located a few minutes southeast of Santa Barbara and is essentially one of the 2 very high end neighborhoods here in Santa Barbara.

View: All Current Active listings in Montecito in the Santa Barbara MLS

Further Reading:

Subscribe: To Receive Personal Listings of Santa Barbara Real Estate

Search: The Santa Barbara Area MLS

Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.

Santa Barbara Real Estate – Hope Ranch Real Estate Market Update June – October 2011

kevinschmidtchen — Fri, 11 Nov 2011 17:17:45 +0000

So where has the market been in Hope Ranch here in Santa Barbara? Overall, the real estate market in the Hope Ranch area has been a little slower than normal and most sales have been in the lower end price point for this area. Here is simple to view summary of the real estate market for Hope Ranch for the summer months through until the end of October 2011.

Closed Sales in the Hope Ranch Area

During these 5 months from June – October, Hope Ranch has had approximately 13 Closed sales of single family homes. The lowest priced sale that was recorded during this stretch of the year was a bank owned home located at 926 Canon Road that closed for $1,210,000. Homes in this price range are tending to get multiple offers when priced well and this home was no exception with 8 reported offers. The highest sale during this time was a wonderful masterfully created Spanish Revival Style Estate with ocean views that closed for $7,200,000.

Current Active Homes for Sale in Hope Ranch

Currently as of November 1st, 2011, there are approximately 25 homes available for sale or pending sale in the Hope Ranch area. The lowest priced available home is a bank owned home located on Las Palmas that once again reportedly just received several offers and is now pending sale. It was a true fixer and priced accordingly at $1,039,500. Once again, any home that is priced at this entry level price point for Hope Ranch (roughly $1 to $1.4 million) is generally seeing multiple offers.
Currently the highest priced homes and estates on the market in Hope Ranch are priced at $9.9 million, $11.8 million and $24.5 million.

Hope Ranch Real Estate - Santa Barbara

Hope Ranch Homes For Sale - Santa Barbara

Hope Ranch is located west of Santa Barbara and is essentially a high end neighborhood of Santa Barbara only a 2-3 minute drive from downtown.

View: All Current Active listings in Hope Ranch in the Santa Barbara MLS

Further Reading:

Subscribe: To Receive Personal Listings of Santa Barbara Real Estate

Search: The Santa Barbara Area MLS

Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.

Santa Barbara Real Estate – Summerland Real Estate Market Update June – October 2011

kevinschmidtchen — Thu, 10 Nov 2011 17:03:57 +0000

Here is an quick summary of the real estate market in the Summerland area from the past summer months through until the end of October 2011. Normally this time of year sees a lot of activity in June and July, then slowing a little in August as many people are on vacation, sending kids off to school, paying bills from all the summer activities etc. Then in mid September through until about Thanksgiving we have a relatively strong real estate market on average. Overall, the Summerland market has been a little slower than average with sales. Most of the sales this summer and overall in the last year have been around the $500,000 to $1 million price point on average.

Closed Sales in the Summerland Area

During these 5 months from June – October, Summerland had approximately 11 Closed sales of condos, town homes, PUD’s (planned unit developments) and single family homes. The lowest priced sale that was recorded in the Santa Barbara MLS during this stretch of the year was a nicely updated 2 bed, 2 bath plus and extra room town home located on Lillie that closed for $500,000. The highest sale was a newer built home (2008) with ocean views located at 2435 Golden Gate Ave that sold for $1.1 million.

Current Active Homes for Sale in Summerland

Currently as of November 1st, 2011, there are approximately 11 homes available for sale in the Summerland area. The lowest priced available home on the market right now is for sale for $849,000. The highest priced homes for sale currnently on the market is a beach front home for $2.95 million. This is a wonderful contemporary style “beach house” with top quality features throughout, numerous decks and patios and obviously panoramic views of the ocean and Summerland Beach.

Summerland Beach Home - Santa Barbara Real Estate

Summerland Ocean Front Real Estate - Santa Barbara

The community of Summerland is located only 3-4 minutes south of Santa Barbara.

View: All Current Active listings in Summerland in the Santa Barbara MLS

Further Reading:

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Search: The Santa Barbara Area MLS

Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.

Santa Barbara Real Estate – Carpinteria Real Estate Market Update June – October 2011

kevinschmidtchen — Wed, 09 Nov 2011 17:10:48 +0000

Here is an easy to view summary of the real estate market in the Carpinteria area from the summer months through until the end of October 2011. Normally this time of year sees a lot of activity in June and July, then slowing a little in August as many people are on vacation, sending kids off to school, paying bills from all the summer activities etc. Then in mid September through until about Thanksgiving we have a relatively strong real estate market on average. Overall, the Carpinteria market has been very strong in the price range from $200,000 to $750,000 with a lot of homes and condos selling as well as many current pending sales.

Closed Sales in the Carpinteria Area

During these 5 months from June – October, Carpinteria had approximately 53 Closed sales of condos, town homes, PUD’s (planned unit developments) and single family homes. The lowest priced sale that was recorded during this stretch of the year was a 2 bed 1 bath condo located on Birch Street for $192,000. The highest sale was a stark contrast to this as Carpinteria also has wonderful ranches, estates and ocean front property. The highest sale closed in June for $6.6 million. The home was a single level, open beamed home, roughly 2600 sqft. with commanding panoramic ocean front views. The home is was located in the coveted cove on Padaro Lane.

Carpinteria Ocean Front Real Estate - Padaro Lane

Carpinteria Homes - Padaro Lane

Current Active Homes for Sale in Carpinteria

Currently as of November 1st, 2011, there are approximately 54 homes available for sale in the Carpinteria area. The lowest priced available homes for sale are condos ranging generally from around $195,000 to around $375,000. The highest priced homes for sale tend to be properties located on the ocean front. Some of these are very high end ocean front listings such as the one currently listed for $25,500,000 located at 3165 Padaro Lane. There are currently 8 magical ocean front homes in the Carpinteria area that are active for sale priced between $4 and $25 million.

Padaro Beachfront Real Estate - Santa Barbara

The City of Carpinteria is located about a 7-10 minute drive to the south of Santa Barbara.

View: All Current Active listings in Carpinteria in the Santa Barbara MLS

Further Reading:

Subscribe: To Receive Personal Listings of Santa Barbara Real Estate

Search: The Santa Barbara Area MLS

Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.

Santa Barbara Real Estate – Goleta Real Estate Market Update June – October 2011

kevinschmidtchen — Thu, 03 Nov 2011 15:23:07 +0000

Here is a wrap up of the real estate market in the Goleta area from the summer months through til the end of October 2011. Normally this time of year sees a lot of activity in June and July, then slowing a little in August as many people are on vacation, sending kids off to school, paying bills from all the summer activities etc. Then in mid September through til about Thanksgiving we have a relatively strong real estate market on average.

Closed Sales in the Goleta Area

During these 5 months from June – October, Goleta had approximately 158 Closed sales of condos, town homes, PUD’s (planned unit developments) and single family homes. The lowest priced sale was $175,000 for a 1 bedroom 1 bath condo on Dearborn Place. The highest sale was $1,550,000 for a single level Mediterranean home in the gated community of Vintage Ranch.
Santa Barbara Homes - Vintage Ranch

Santa Barbara Homes - Vintage Ranch

Current Active Homes for Sale in Goleta

Currently as of November 1st, 2011, there are approximately 152 homes available for sale in the Goleta area. The lowest priced available homes for sale are condos ranging generally from around $175,000 to around $250,000. The highest priced homes tend to be properties with a lot of land and/or newer homes to ocean front homes such as the one currently listed for $2,550,000 located on the bluff top at 5289 Austin Road.

The City of Goleta is generally about a 5-7 minute drive to Santa Barbara. It is located north of Santa Barbara and close to the UC Santa Barbara campus.

View: All Current Active listings in Goleta in the Santa Barbara MLS

Further Reading:

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Search: The Santa Barbara Area MLS

Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.

Are Bank Owned Sales Prevalent in Montecito? August 2011 Update

kevinschmidtchen — Fri, 30 Sep 2011 16:13:03 +0000

Here are the latest statistics for real estate sales in Montecito for August 2011. The shaded area with an ‘X’ states whether the property was a bank owned (REO) sale or not. Although many people would love to find bank owned foreclosure properties in Montecito, the reality is that almost all of the sales are still traditional sales in Montecito. Additionally, most of the REO’s tend to be at the lower end of the price scale.

View: Santa Barbara / Montecito Real Estate $1-3 Million

View: Santa Barbara / Montecito Real Estate $3-5 Million

View: Santa Barbara / Montecito Real Estate $5 million and Above

Further Reading:

Subscribe: Receive Personal Listings of Santa Barbara Real Estate

Search: The Santa Barbara Area MLS

Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.