Market Update August 2015

Santa Barbara Real Estate – August 2015

Summer is wrapping up and surprisingly, through all the vacations, we are still seeing a lot of activity in the real estate market. In fact, the total number of homes & condos sold 2015 just surpassed 2013 total. With pending sales also up in July, we could end the year with more sales than 2013.

A big change this month was the median sales price; it dropped significantly to $997,500 for July. Prices have not fallen, but significantly more entry level homes sold this month. And also adding to the drop was a couple fewer sales in the above $5M market than the first half of the year.

This week, I received an email asking some specific questions about the market. I was grateful for the question. She asked about the drought, possible El Nino and the impact on the market. Surprisingly, it seems that the drought has not effected the market even on larger parcels of land. My guess is the reason is that we are all in this together. I think it is so wise considering all these variables in the market.

I love doing my job and if you would like to talk more about the market or have questions about buying or selling, please let me know.

JUNE MARKET HIGHLIGHTS
Highest – 1590 E. MOUNTAIN DR – $27,500,000
– View the past listing for photos

Lowest – 1815 STANWOOD DR – $485,000

Great area  – 877 COCOPAH DR – $985,000
– S.B. is full of great little areas. I like this smaller neighborhood, most homes have a little more size, a community pool & desired school district.

Unique listing – 1267 VERONICA SPRINGS – $1,879,000
– Well done Craftsman home not often seen in Santa Barbara

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Jon-Ryan Schlobohm

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