How is Santa Barbara’s Real Estate Market Doing Today? May 26th, 2009

One of the most obvious questions posted to Real Estate Agents here in Santa Barbara these days is some form of the following...How is the overall market doing? It is difficult to give one definite answer with regards to this question as there are many interpretations to this question.  For that reason, I will just try and give an answer based on...

  1. The most recent statistics
  2. The current overall energy and pulse of the market
  3. What buyers and sellers are both saying and doing

Let's start with... Statistics On average here in Santa Barbara CA. in a normal to strong real estate market, we see about 33-38 pending sales per week across the board.  This is from the entry level all the way up to the luxury market and includes Goleta to Santa Barbara to Carpinteria.

  • For the month of April 2009 we saw 108 closed sales for a rough average of 27 sales per week.
  • For the first 3 weeks of May 2009, we have seen 108 pending sales for an average of  36 pending sales per week.

The overall energy and pulse of the Santa Barbara Real Estate market

  • If you talk with many of the hard working Realtors, everyone seems to be feeling that the market is picking up a lot or has already picked up here in the last 6-8 weeks.  This is based on many things, but the obvious is just overall activity and deals.
  • Lenders are also commenting that they are getting a lot more requests and inquiries and most of all applications.
  • Properties in escrow are now closing sale as well .

What Buyers and Sellers are saying and doing

  • Buyers and sellers that I am talking and working with seem to be comfortable and buying as shown by the pending sales.
  • Buyers and sellers that I am talking and working with are thinking and feeling that here in Santa Barbara, most areas have seen price benchmarks reached.
  • Buyers and sellers that I am talking and working with feel that we have reached a bottom in prices for most of the market here.
  • Buyers and sellers that I am talking and working with think that the housing prices will now stay stable here throughout 2009 with the bigger issue for them being where the mortgage market is and will be.

Further Reading:

  1. Is My Realtor a Santa Barbara Neighborhood Specialist in My Area?
  2. Search the Santa Barbara, Montecito and Goleta CA MLS for Free
  3. My Home has Declined in Value...Can My Property Taxes Be Lowered?
  4. The 2 Major First Steps in Buying a Home in Santa Barbara CA.

For information on Real Estate here in Santa Barbara, Montecito and/or our surrounding areas, as well as any other aspects of life in our area, please don’t hesitate to contact Kevin Schmidtchen at Sotheby’s Int’l Realty. Thank you for reading.  I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts. Subscribe to Receive Personal Listings of Santa Barbara Real Estate Search The Santa Barbara Area MLS

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