More Statistics Confirming That The Santa Barbara Real Estate Market is Very Very Strong!

Here are some recent statistics about how strong the real estate market has become here in Southern California and especially in the Santa Barbara area.

  • The number of sales in Southern California is up 9% from July and 14.2% from the same month last year!
  • The median sales price is up 10.8% from last year!
  • This is the 6th consecutive month that the year-over-year median price has risen AND it’s up 27% from the low in 4/09!
  • Foreclosures are now at their lowest percentage of the market since 1/09!
  • Most importantly for us here locally in Santa Barbara...all this data is from the six counties of Los Angeles, Orange, Riverside, San Bernadino, San Diego and Ventura!  Sotheby’s Management reports that Santa Barbara on the other hand is the third hottest region in the country after Manhattan and San Francisco so the numbers are even strong/better here!
  • Even the National Association of Home Builders reported the highest rating on their own index in over SIX years!

I think a lot of the objections that buyers have had over the last 12 months are starting to wither away such as waiting until the elections, prices might go down more and there is still shadow inventory coming. With regards to shadow inventory, with our current situation we have here in Santa Barbara, we certainly hope there is more inventory coming.  This is our biggest issue these days...lack of homes to sell. 

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    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 Berkshire Hathaway.

    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.          

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