Vote Now in the Santa Barbara Independent’s Best of Santa Barbara Issue 2016!

best of 2016

Voting for the annual Santa Barbara Independent Best Of Santa Barbara Issue has begun! As our valued clients we would love for you to vote for us as “Best Real Estate Agent” & Berkshire Hathaway HomeServices as “Best Real Estate Company” Click below to vote today!

sb ind best of 16

 

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

 

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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