Market Update June 2017

Santa Barbara Real Estate – June 2017

The big story this month is activity. Our sales and pending volume spiked. For the month, we experienced an increase from June 2016 of almost 16%.

Notable in all the activity was the $5M plus market. In June there were 10 sales, which brings the total for the year to 27; 10 sales at this price point in a single month is a big month. In 2016 we had 28 sales at this point in the year. A notable difference this year is:

Many of these properties are selling for significant discounts from their list price – on average almost 14%.
Four of these 2017 sales were previously sold in the last few years. Interestingly none of them sold for more this year than their previous sales.

In the high-end it appears that buyers are more selective – carefully analyzing values and exercising perhaps a more cautious restraint.

The entry level single family home market (up to $1.2M depending on the neighborhood) is very active and quite strong. There are an ample amount of buyers wanting and ready to buy, but they to seem more selective in what they choose.

In the broad market, from $1.2M to $5M, sales year to date are also up compared to 2016. For the first six months of 2017, there were 280 sales compared to 244 sales in 2016.

Overall we would say that buyers are being more thoughtful.

June Market Highlights

June ’17 Highest Sale
3485 Padaro Ln
6 BD / 6 BA / $10.100.000

June ’17 Lowest Home Sale
131 Tecolote Ave
2 BD / 1 BA / $399.000

Listings

1710 Mission Ridge Rd
Ocean, Island, Harbor & City Views
5 BD / 6 BA / $2.495.000

2209 Vista Del Campo
Riviera, Mountain & City Views
4 BD / 2.5 BA / $1.329.000

1220 Franciscan Ct #2
Carpinteria
2 BD / 1 BA / $474.900

6180 Via Real #107
Vista De Santa Barbara
2 BD / 2 BA / $269.000

Thank you to our clients on these most recent sales! Thank you for your trust. It is always an honor to serve.

4655 El Carro Ln
Carpinteria
3 BD / 2 BA / $840.000

298 Savona Ave
El Encanto Heights
4 BD / 2 BA / $765.000

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Jon-Ryan Schlobohm

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