Santa Barbara Real Estate Market Update - Statistics 3rd Quarter 2013
Here are the latest real estate statistics for the 3rd quarter 2013 here in Santa Barbara. As the graph shows, we have continued on a steady increase over the last few years in both average sales price as well as number of homes sold (although down just a little from last year). After a very strong rise in prices from June 2012 until August 2013, the market has seemed to steady itself. Prices are currently very stable feeling (no increase or decrease), demand is still very high and the biggest issue for buyers is still the lack of inventory. Normally these last 2 items would push up prices further, but it feels as though the market has stabilized the last few months after such a strong rise in value in the last 18 months. We have also heard rumbles about the interest rates rising further, but the latest economic talks and meetings seem to say that interest rates should stay relatively stable here in the coming 3-6 months.
Santa Barbara Real Estate Market Report - Quarter 3 2013
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