Santa Barbara Real Estate – October 2016
For the first three quarters of 2016 total homes sales have dropped by almost 14%. Condos lead the drop with a 27.5% decrease compared to 2015, but single family home sales have seen a decrease of 7.3%. Median price for homes and condos in 2016 have increased slightly, which we believe is an increase in the entry to mid-level homes.
Looking at the high-end market from January through September for the last 5 years, 2016 has the second highest amount of sales over $5,000,000. Of course, we have seen good price growth in that time frame, which has helped in that growth. Of the 41 sales in 2016, 20 of them are under $6,000,000; these properties may not have sold for over $5,000,000 in 2012. This year we have seen a noticeable drop in sales over $10,000,000.
We are encouraged that we have not continued to see rapid price appreciation. This has given buyers the ability to adjust to the new normal. Sellers who price their homes appropriately are seeing good activity at most price levels.
Highest Sale Sept. ’16
3551 Padaro Lane
5 BD / 4 BA / $6.367.500
Lowest Home Sale Sept. ’16
5216 San Simeon drive
4 BD / 2 BA / $625.000
New Listing and In Escrow!
1350 Limu St., Carpinteria
3 BD / 2 BA / $765.000
Thank you to our clients on these two most recent sales. It is always an honor to help.
616 Hot Springs Road
Lutah Maria Riggs Contemporary
5 BD / 5 BA / $5.800.000
22 San Dimas Avenue
Walnut Park Ranch Style Home
3 BD / 2 BA / $811.000
It is sure evident by the world around us that things change – some for the good and some for the worse. It is a crazy season in our country with a lot of unknowns. In our worlds there have been some changes too.
We are very happy to officially announce our new partnership. Collectively, we have been at this for almost 12 years now and thankfully both our businesses have grown. Looking at what our clients need, we have recognized the need to have a partner to best serve our clients in this 24/7 business. Our partnership blends our abilities & strengths and enhances the service we provide. Most importantly to us is that we both hold to a firm belief that the core of our business is always putting our clients best interests first.
How can we help?
P.S. – We had a lot of fun at Moses & Elsabet’s cardboard boat regatta for their 8th birthday!