2020 Year In Review - Santa Barbara Real Estate

Posted by Kevin Schmidtchen on Wednesday, January 6, 2021 at 10:43 AM By Kevin Schmidtchen / January 6, 2021 Comment

As we leave behind a most challenging 2020, I wanted to thank all my clients and give a quick recap of such a crazy year !!!

The year started out fairly normal from January until about mid March.
By mid March, most real estate in Santa Barbara went into a holding pattern.
Escrows that were pending mainly closed, but several fell out and/or had a tough time closing because of lending.
From mid March until about early May, the market overall was rather stagnant as Covid really hit home and most people simply were on the sidelines.
From mid May until about mid June, the market really starting to gain momentum with buyers coming off the sidelines.
By late June the market started to get busy and listings were selling withing a few weeks.
By July the market had completley changed and buyers were everywhere, inventory was limited and prices started to rise.
From July through the end of the year, the market was very robust with limited inventory, low interest rates and prices rising.

Thank you for a very successful 2020 and I look forward to making new dreams come true in 2021!!!