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SUPPLY & DEMAND We feel like we’re back in college applying the most basic principle of economics – Supply & Demand. The demand for real estate in the Santa Barbara area is very high today but with a very limited supply. Prices are being driven up, sellers are experiencing multiple…
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The real estate market was impacted dramatically by the effects of the Coronavirus, but it has bounced back stronger than expected. Spring typically brings the highest sales volume of the year. This year was much different. Sales for April & May totaled only 179 an approximate 50% drop compared to…
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Hi! It has been some time since we last wrote and quite the time it has been. Wow! It has been unusual times, to say the least. We took a break from our monthly newsletters for two reasons – first things were hectic and relatively uncertain and secondly, it seemed…
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At the end of every year, this is our favorite report to compile – “What happened in 2019.” At the beginning of last year, speculation abounded regarding the direction of the market. Most anticipated that sales volume would decrease and that it might turn to a balanced or even a buyers…
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MARKET UPDATE One-third of 2019 is behind us. The year is off to a good start. Total sales are tracking ahead of 2018 and even way ahead of 2017 by almost 11%. We have an active year so far. Off market sales continue to be a large part of the picture…
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MARKET UPDATE Our 60-second market update With two months behind us and only a few days left in March, the housing market for 2019 is showing promise. Without a doubt, the biggest unexpected change has been the drop in interest rates. In November 2018 the average rate peaked at 5.17% and…
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MARKET UPDATE 2019 is off and running! It is encouraging to see. January sales volume is strong and on par with 2017. The relaxing of interest rates seems to have re-stimulated our market. Looking back at 2018, when interest rates breached 5%, we saw the market slow. As rates have dropped back below 4.5% sales…
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MARKET UPDATE Resilience is the story of the 2018 Santa Barbara area real estate market. With the tragic events to start the year our market outperformed most expectations. Total sales were almost even with 2017, which is a remarkable feat. Beyond the natural disasters, a number of other factors affected affordability. Rising…
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MARKET UPDATE This is always one of our favorite times of year. Things seem to slow down a little, and we get a little extra time with family and friends. We want to tell you how thankful we are for you, your friendship, your business and your continued trust in us. We couldn’t…
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MARKET UPDATE Overall the trends from last month continue (read last months report). As we anticipated, sales slowed in September but only a little. The market is down 7.5% or 12 fewer sales in September 2018 compared to 2017. What continues to surprise us is how active the market continues…
Market Update
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