Santa Barbara Real Estate – January 2016
2015 in Review
I love putting together a yearly wrap up, seeing what happened in our market this last year. First hand, this is my sixth year working in the market and experiencing some great changes.
To sum up 2015, I would call it healthy, steady and balanced. In general prices remained unchanged. In some higher end markets we experienced a little push higher in price, but overall it was even, which I like.
What has been encouraging has been the sheer volume in sales. 2015 sales were comparable to 2013. Looking at homes and condos combined, we experienced 1692 sales which was only 20 less than 2013’s total, a very active year. Also we saw a 36% surge in total home sales above $5,000,000 from last year.
Home prices have rebounded nicely since the low in 2011. The median home price in 2011 was $790,000 and 2015 is up 39% to $1,100,000.
Personally, it has been a great year and I am very grateful for the opportunity to be of service to my clients. I am incredibly thankful and love doing my job.
And one last thing, on Monday we finalized the adoption of our son Samuel, it has been a great week at our house.
NOVEMBER MARKET HIGHLIGHTS
Highest–1439 IRVINE LN–$8,500,000
– Beautiful Ocean Views in the heart of Montecito
Lowest–411 N ALISOS ST–$540,000
Market Change–235 SANTA ROSA LN–’11 vs ’15
Favorite New Property–4135 LAGO DR–$2,499,000
– Great yard and view
Have a great day,