Are we in a Buyer’s or in a Seller’s market?
We are always asked what type of a market are we in. That is, are prices going up or are prices going down? Because of the variety of properties and areas in Santa Barbara, it is not necessarily an easy question to answer. Are we talking about Montecito? Santa Barbara (East side vs. Westside)? Goleta (North vs. South)? For us, it’s more like: Are we in a Buyer’s Market or a Seller’s Market?
Currently, we feel that on a hold it is a seller’s market, where the demand for home/condo ownership is greater than the supply. And in fact, if a property is priced right, an offer should come in within 2-3 weeks, and depending on the price range, we are seeing multiple offers on properties.
Here are the latest statistics showing comparison’s between March of 2015 and March of 2016, as well as the first quarter of last year versus the first quarter of this year.
Here’s a comparison between March 2015 and March 2016.
[wptg_comparison_table id=”5″]January 1st – March 31st, 1 st Quarter, 2015 vs. 2016
[wptg_comparison_table id=”6″]Average Sale Price
[wptg_comparison_table id=”7″]Total Number of Listings
[wptg_comparison_table id=”8″]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 our active listings, our SB Open House Guide and our blog at The Santa Barbara Lifestyle. Read out our much appreciated client testimonials and if you have not already done so, download our new free mobile app to access our newest and easiest search tool to find your house today!
Thank You,
Randy & Kellie