Market Statistics / Updates

Lack of Inventory Extremely Tough On Buyers Here in Santa Barbara

When will we see the next good run of new inventory here in the housing market in Santa Barbara? This is a question that everyone across the board is asking each other from buyers, to lenders, to real estate agents. Every statistic we see as well as just the true pulse on the market points out that there are more buyers than real estate to choose from.  Compared to just the last few years, we are roughly down 50% on listings.  It feels tougher than this at times. Lack of Condo Inventory As that... Continue Reading >

Santa Barbara Real Estate Market Report for August 2012

Real estate here in Santa Barbara for the summer of 2012 ended up being a market where a lot of people were looking and ready and most everything that was coming on the market was sold very quickly.  We are continuing to have a definite lack of inventory across all price points, but especially in the $300,000 to $900,000 price point.  Many buyers continue to be frustrated as they are ready and pre-approved (or all cash) and simply not being able to find a home. It seems that many sellers are... Continue Reading >

Santa Barbara Area Tops in Hot Real Estate Market

Here is a great article from Inman News about the very strong California real estate market overall... and especially here in Santa Barbara.  This is pretty much in line with what I have been writing about the last 6 months and what we are experiencing. Editor's note: Data from Realtor.com's June 2012 Real Estate Trend Data Report. The report analyzes data for 146 U.S. metros and includes single-family homes, condos, townhomes and co-ops. Three California metros -- Santa Barbara-Santa Maria-Lompoc, San Francisco and Oakland -- shot to the top five of metros with... Continue Reading >

Carpinteria and Summerland May 2012 Cort Reports

Here are the latest CORT report statistics for real estate here in Carpinteria and Summerland. The overall market also continues to be very strong with most well priced homes selling within a few days to a few weeks.  Buyers continue to be very comfortable with prices and are taking advantage of incredibly low interest rates.  Other strong signs for the market is that many investors are now buying again as well as cash investors.  We are also experiencing a lack of inventory in certain areas and price points which can be... Continue Reading >

Santa Barbara, Montecito, Hope Ranch and Goleta Cort Reports May 2012

Here are the latest CORT report statistics for real estate here in Santa Barbara, Montecito, Goleta and Hope Ranch. The overall market also continues to be very strong with most well priced homes selling within a few days to a few weeks.  Buyers continue to be very comfortable with prices and are taking advantage of incredibly low interest rates.  Other strong signs for the market is that many investors are now buying again as well as cash investors.  We are also experiencing a lack of inventory in certain areas and price... Continue Reading >

Santa Barbara Real Estate – San Roque Real Estate Market Update May June 2012

The San Roque real estate market continues to be a very strong market here in Santa Barbara.  The only homes that seem to not be selling are the ones that the market is telling us are too high priced.  Outside of this, from a fixer to a done up home across all price points in San Roque, homes are selling.  Buyers are out there and simply asking for more inventory.  Many homes are also seeing multiple offers of 2-3 offers. If you are looking for real estate information and a home... Continue Reading >

High End Luxury Montecito Real Estate Sales Continue Their Strong Pace

The very high end luxury real estate market here in Montecito is seeing a great deal of activity and sales here in the first part of the year.  This is in pretty stark comparison to the sales here in the last year(s). 2009 - 10 Total sales over $7.5 million 2010 - 14 Total sales over $7.5 million 2011 - 4 Total sales over $7.5 million In 2012, we have already seen 8 total closed sales over the first 5 months of the year, 5 of which have been over $15 million. Right now in our very high... Continue Reading >

Santa Barbara CORT Reports – Santa Barbara Real Estate April 2012

Here are the latest CORT report statistics for real estate here in Carpinteria, Goleta, Santa Barbara, Montecito and Summerland.  All of the red "x" delineate REO or distressed sales.  As you will notice, the vast majority of our foreclosures and short sales continue to be in the lower end price points. The overall market also continues to be very strong with most well priced homes selling within a few days to a few weeks.  Buyers continue to be very comfortable with prices and are taking advantage of incredibly low interest rates. ... Continue Reading >

Santa Barbara Real Estate Market Update March 2012

Here are some of the latest Santa Barbara real estate market statistics with regards to inventory, listings, sales, prices etc. for March 2012. As the statistics show, the real estate market here in Santa Barbara, Goleta and Carpinteria is very strong and active.  With the combination of fewer listings (inventory), great interest rates and buyers that are comfortable with the market....homes are selling quickly across all price points in the last 6-8 months. The graph below depicts this overall lack of inventory in general...one of the obvious factors leading to a fairly quick market.   The immediate... Continue Reading >

Santa Barbara Real Estate – What is the Early Pulse of The 2012 Real Estate Market?

Often as a Realtor I am asked...for obvious reasons: Where is the real estate market these days? How is the real estate market these days? Are homes selling fast, slow etc.? Basically all of these questions mean "What is happening in Real Estate right now?" Across the board from the lower starting end at around $200,000 to $600,000, to the middle of the market from $700,000 to $1.5 million all the way to the luxury high end of $5 million and above, homes are selling. In the lower end from around $200,000 to $600,000, most all... Continue Reading >

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

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,... Continue Reading >

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

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... Continue Reading >