6 MONTH Comparison for Santa Barbara’s Real Estate Market

It is amazing how fast the year seems to be moving.  Can you believe that we are already in the second half of 2016? Wow! So, how is the real estate market in the Santa Barbara (Carpinteria, Summerland, Montecito, Santa Barbara, Hope Ranch and Goleta) area?

Since 6 months have gone by, it is a good time to reflect on the market trends, what we are seeing, and also to compare the first six months of 2016 vs. the first six month of 2015.  See below.

In summary, market is still strong with the overall median sales price and list price being up, even though the average sales price is down and there were less sales in 2016 than 2015. There is activity and we still appear to be in seller’s market due to supply and demand. Homes that are priced correctly and those under $1,000,000 have been receiving multiple offers, and all cash buyers are involved in nearly 28% of the market.

July Estate Update

REAL ESTATE UPDATE:

RESIDENTIAL            # of Sales        Average         Median           Average          Median

                                                            List Price        List Price         Sold Price      Sold Price

June – 2016                   105          $1,742,898      $1,197,000       $1,685,757     $1,173,000

June – 2015                   114           $2,039,542      $1,250,000      $1,965,296     $1,252,500  

May – 2016                    112          $1,730,770      $1,164,350       $1,680,745     $1,125,000

May – 2015                    127          $1,959,030      $1,299,000       $1,869,745     $1,280,000  

April – 2016                   104          $1,592,940      $1,197,000       $1,538,594     $1,174,500

April – 2015                     94          $1,551,742      $1,295,000      $1,916,432      $1,205,000

March – 2016                  85          $1,752,501      $1,199,000      $1,675,354      $1,225,000

March – 2015                117          $2,000,054      $1,295,000      $1,916,432      $1,205,000

 

REsidential: January 1st –  June 30th

                                                 2015                         2016                       % Up or down

# Sold Properties:                  583                           540                          Down  -7.4%

Median Sales Price:   $1,175,000              $1,195,000                                Up  +.7%

Median Sales Price:      $972,000              $1,015,000                              Up  +4.4%                                                                                                                                         w/o Hope Ranch & Montecito

Average Sales Price:  $1,906,450              $1,750,552                          Down  -8.0%

Average Sales Price:  $1,328,757              $1,258,325                          Down  -5.3%                                                                                                                                        w/o Hope Ranch & Montecito

 

CONDOS         # of Sales      Average          Median             Average           Median

                                               List Price        List Price         Sold Price        Sold Price

June – 2016            47          $678,804        $625,000          $654,872          $620,000

June – 2015            47          $693,397        $649,000          $688.626          $636,000

May – 2016             40          $767,861        $594,000          $751,421          $586,640

May – 2015             53          $724,583        $595,000          $715,338          $591,000

April – 2016            36           $807,000       $699,000           $788,046          $700,000

April – 2015            64           $658,214       $564,500           $660,038          $565,500

 

CONDOS:  January 1st –  June 30th  –  2015 vs. 2016

                                           2015                        2016                          % Up or down

# Sold Properties:            277                           203                              Down  -26.7%

Median Sales Price:    $580,000                 $635,000                               Up  +9.5%

Median Sales Price:    $565,000                 $620,000                               Up  +9.7% w/o Montecito

Average Sales Price:   $705,037                $803,134                               Up   +14.0%

Average Sales Price:   $647,327                $701,751                               Up   +8.4% w/o Montecito

 

We would like to thank to SBAOR and Coldwell Banker for providing us with our information. As always, if you are thinking of buying or selling, or know someone who is, please think of us and make sure you check out our current listings, our SB open guide, which is updated daily, and more from our blog and Facebook. Sign up for our monthly newsletter for more in-depth information!

Thank you!

Kellie & Randy

JUST SOLD!!  1211 HARBOR HILLS, SANTA BARBARA CA 93109

Just Sold 1211 Harbor Hills SB

We are excited to announce the sale of our listing at 1211 Harbor Hills Drive! This gorgeous Mesa area home is the ultimate Santa Barbara lifestyle. This mediterranean 4 bedroom, 3 bath home featured panoramic ocean and island views from almost every room (see photos below!) Highly desirable Mesa location at the end of a cul-de-sac in the coveted Harbor Hills neighborhood, and in Washington School District! This gorgeous home is perfect for entertaining with expansive marble patios and a fresh-water pool and spa, complemented by the chic cabana and outdoor fireplace. The spacious master bedroom suite is on the main floor, separate from the other 3 bedrooms, and boasts a fireplace, room for an office/sitting room, a marble tiled bath, and a huge walk-in closet. Elegant living room with fireplace, vaulted ceilings, and 2 romantic balconies overlooking the pool, patio, ocean and islands. This home has been featured on the BHHS Homes with Gourmet Kitchens Blog article,  “23 gourmet kitchens you’ll want a taste of,”  where BHHS rounded up some of the most beautiful and most sought after gourmet kitchens in Southern California.

Listed For: $3,375,000

Sales Price: Upon Request

1211 HARBOR HILLS DRIVE, SANTA BARBARA CA

 

Screen Shot 2016-02-02 at 12.24.38 PM

Contact us today regarding any of your real estate needs. You can read our real estate blog and sign up for our monthly real estate newsletter for more general updates. You can also check out our new SB Open House Guide today for an entire list of open houses in the SB Area.  We looking forward to hearing from you soon!

Thank You,

Randy & Kellie

8 Points on the Expanding Economy and the Housing MARKET

SBLJune2016

We are excited to bring you the latest stats for Santa Barbara real estate. Mark Schneipp, the Director of the California Economic Forecast recently spoke at our monthly meeting of the Multiple Listing Service. There has been so much talk about the economy and the recent decision of Great Britain to leave the European Union.  No one knows what the repercussions will be, but Mark pointed out the following regarding the overall economy in the United States:

ECONOMY EXPANDING + INTEREST RATES STAYING LOW= STEADY & TIGHT HOUSING MARKET

1. The economy is expanding (as opposed to declining or in recession)

2. There is no loss of economic momentum in fact we are growing

3. There is full employment

4. Low interest rates continue

5. Inflation is low

6. There is a tight housing market

7. Housing market steady – no significant increase/decrease in activity

8. Overall the probability of a recession is low

Residential Real Estate Update

# Of Sales Average List Price Median List Price Average Sold Price Median Sold Price
May 2016 112 $1,730,770 $1,164,350 $1,680,745 $1,125,000
May 2015 127 $1,959,030 $1,299,000 $1,869,745 $1,280,000

RESIDENTIAL Jan 1- May 31 2015 vs 2016

2015 2016 % Up or Down
# Of Sold Properties 469 435 Down -7.24%
Median Sales Price $1,129,000 $1,200,000 Up +6.3%
Median Sales Price (w/o Hope Ranch & Montecito) $951,500 $1,020,000 Up +7.2%
Average Sales Price $1,892,146 $1,766,192 Down -6.65%
Average Sales Price (w/o Hope Ranch & Montecito) $1,346,893 $1,226,435 Down -9%

CONDOS MAY 2016 VS MAY 2015

# Of Sales Average List Price Median List Price Average Sold Price Median Sold Price
May 2016 40 $767,861 $594,000 $751,421 $586,640
May 2015 53 $724,583 $595,000 $715,338 $591,000
We would like to thank the SBAOR and Coldwell Banker for providing us with our information. As always, if you are thinking of buying or selling, or know someone who is, please think of us and make sure you check out our current listings, our SB Open House Guide, which is updated daily, and more from our blog and facebook. Sign up for our monthly newsletter for more in-depth info today.
Thank you!
Kellie & Randy

Santa Barbara Summer Solstice Celebration, June 24-26

It is officially summer at The Santa Barbara Lifestyle! As residents of Santa Barbara, our valued clients often feel like it’s summer all year-round. As one of our clients who was originally from the east coast mentioned, “Living in Santa Barbara is like living in paradise in being on vacation all year long.” We feel very fortunate to live in such a beautiful city and enjoy all that is has to offer its residents. We wanted to showcase all of the exciting events of the season so we are introducing our first ever SB Summer Guide! This guide will feature fun and informative blog posts on the latest happenings, festivals, and events going on locally. With the annual Summer Solstice Celebration fast approaching, we wanted to promote this famously fun celebration! Read on to find out all of the details and information about the festival and parade below.

Summer celebrations are very special in the Santa Barbara community, from the Solstice Celebration, Concerts in the Parks, to Fiesta & Old Spanish Days, the summer is filled with historical traditions and fun. Kicking the season off is the annual Summer Solstice Celebration. The festival spans three days, beginning on Friday, June 24th at 4pm at Alameda Park, followed by the parade on State Street on Saturday June 25th at 12pm. More fun and live music continue on Sunday June 26th at Alameda Park.

Summer Solstice 2011

Summer Solstice 2011

This festival is loved by the community and surrounding areas and it attracts many visitors each year. In the past, the parade has had as many as 100,000 spectators. This year, with the theme being “Legends” they are expecting an even greater “legendary” turnout. As Noozhawk reports, “Festival Executive Director Robin Elander said the creativity seen so far has been diverse, adding that “the parade will be legendary.” (DeVries, Noozhawk) Some other exciting news is the inaugural Children’s Parade, which will take place at 2:30 p.m. Sunday near the Kids World part of Alameda park.

FESTIVAL AND PARADE SCHEDULE FOR 2016

Friday June 24, 2016 Festival 4 – 9 pm, Alameda Park

Saturday June 25, 2016 Parade – Noon, State and Cota

Saturday June 25, 2016 Festival – Noon – 8 pm, Alameda Park

Sunday June 26, 2015 Festival – Noon – 6 pm, Alameda Park

The festival has many volunteer positions still available and donations can also be made through the festival’s website. For more detailed information about the Summer Solstice Celebration, including solstice’s history, the festival’s activities, live music lineups, the parade course and more.

For more info about the Santa Barbara community, check out our SB AREAS pages and sign up for our monthly real estate newsletter for more general updates. You can also check out our new SB Open House Guide today for an entire list of open houses in the SB Area. We looking forward to hearing from you soon!