Santa Barbara Real Estate – October 2015
- Dec 08, 2015
- By Jon-Ryan Schlobohm
- In Market Update
- 0 Comments
Over the last couple months, I have had the opportunity to work on a number of more complex real estate transactions. As clients look for their first home, move up as the family grows or deal with involved financial pictures, some have been a complicated puzzle. The challenge is really enjoyable, especially when we solve it and accomplish their dreams. It is true that two heads (or more) are better than one. And I am honored and satisfied when my clients involve me in the entirety of the process.
The market is still active, but the momentum seems to be slowing some similar to what occurred in 2013 where the last quarter did not have the same steam. Notably, the number of single family homes sold was down in September by 9% compared to last year. But condos were way up; 210% higher than September of 2014. Overall 2015 is tracking closely with the activity level we saw in 2013, which was a great year.
It seems to me that as prices have climbed significantly since the last bottom, more buyers are opting for condos. And it could be occurring for a few reasons, affordability, some great new condo options in the Santa Barbara market and simpler lifestyle choices for many buyers.
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.
SEPTEMBER MARKET HIGHLIGHTS
Highest–3319 PADARO DR–$13,000,000
– Beach front home on 2/3 of an acres
Lowest–105 TECOLOTE AVE–$560,000
Great New Listing–1118 VIA REGINA–$895,000
– I like this new listing that just hit the market. Good buy, over 2,500 sq. ft., 1/2 acre, needs updating
Have a great day,