Santa Barara real estates market year end totals in Santa Barbara estate market sales defy weaker markets
Continued strength in Santa Barbara estate sales bolsters entire Santa Barbara real estate marketplace. New stimulus should add additional strength.
Here are the totals for estate market sales in the Santa Barbara properties market. Estate areas of Montecito properties and Hope Ranch propertirs sold, are combined to give an accurate overall snap shot of Santa Barbara estates sales in totals in 2007 as compared to 2006. Those totals are in the table below.
|
Number of Sold Listings
|
Dollar Volume of Sold Listings in millions
|
Median Sale Price
|
||||||||||
|
|
2006
|
2007
|
Diff
|
Chg
|
2006
|
2007
|
Diff
|
Chg
|
2006
|
2007
|
Diff
|
Chg
|
|
Jan
|
17
|
20
|
3
|
17.6%
|
$ 44,
|
$ 62,
|
18,
|
27.9%
|
2,125,000
|
2,425,000
|
300,000
|
14.1%
|
|
Feb
|
13
|
14
|
1
|
7.7%
|
$ 54,
|
$ 53,
|
-1,
|
-2.2%
|
2,550,000
|
2,350,000
|
-200,000
|
-7.8%
|
|
Mar
|
23
|
27
|
4
|
17.4%
|
$ 88,
|
$ 84.
|
-3,
|
-4.1%
|
2,200,000
|
2,600,000
|
400,000
|
18.2%
|
|
Apr
|
17
|
33
|
16
|
94.1%
|
$ 54,
|
$ 106,
|
51,
|
91.9%
|
1,950,000
|
3,225,000
|
1,275,000
|
65.4%
|
|
May
|
21
|
27
|
6
|
28.6%
|
$ 74,
|
$ 119,
|
45,
|
59.9%
|
2,925,000
|
2,775,000
|
-150,000
|
-5.1%
|
|
Jun
|
16
|
20
|
4
|
25.0%
|
$ 59,
|
$ 77,
|
18,
|
27.9%
|
2,160,000
|
3,010,000
|
850,000
|
39.4%
|
|
July
|
12
|
17
|
5
|
41.7%
|
$ 32,
|
$ 48,
|
16,
|
50.1%
|
2,600,000
|
2,900,000
|
300,000
|
11.5%
|
|
Aug
|
24
|
20
|
-4
|
-16.7%
|
$ 84,
|
$ 84,
|
.5
|
0.6%
|
2,600,000
|
2,550,000
|
-50,000
|
-1.9%
|
|
Sep
|
15
|
19
|
4
|
26.7%
|
$ 62,
|
$ 70,
|
8,
|
15.1%
|
2,300,000
|
2,970,000
|
670,000
|
29.1%
|
|
Oct
|
14
|
15
|
1
|
7.1%
|
$ 45,
|
$ 46,
|
1,
|
2.3%
|
2,060,000
|
2,600,000
|
540,000
|
26.2%
|
|
Nov
|
12
|
14
|
2
|
16.7%
|
$ 38,
|
$ 79,
|
41,
|
104.7%
|
2,700,000
|
2,950,000
|
250,000
|
9.3%
|
|
Dec
|
27
|
7
|
-20
|
-74.1%
|
$ 70,
|
$ 19,
|
-51,
|
-74.5%
|
2,000,000
|
2,939,500
|
939,500
|
47.0%
|
|
Tot
|
211
|
233
|
22
|
10.4%
|
$ 708.6
|
$ 852.
|
144,
|
19.9%
|
2,400,000
|
2,850,000
|
450,000
|
18.8%
|
The Santa Barbara real eatate market monthly totals for the year end comparison appear in the bottom row. (data courtesy Santa Barbara Multiple Listing Service) For 2007, the Santa Barbara estate market, Montecito real estate and Hope Ranch real estate were up nearly 20% in total dollar volume and up nearly 19% in median price. An extremely strong showing in a year of other national markets softening sharply. This is truely a phenomenal best of breed performance in the face of a national down turn.
In 2008, the Santa Barbara estate market has even greater promise with the under market below $1 million receiving great stimulus from an increase of conforming loan rates in Santa Barbara county from $417,000 to $729,750, a 57% increase. This stimulus should increase sales in this softer lower market segment and traditionally filters up to allow more sales in the upper market segments with seller move up.
The Santa Barbara real estate and unique signature property market requires well informed and invloved local expertise that is essential for the finding, successful acquisition, sale, and value analysis of rare estate properties. Custom searches of Santa Barbara beach properties, estates, Montecito homes for sale or Hope Ranch real estate information are available at http://www.RareEstates.com, a fine home sale transaction network, having specialized local resources and knowledge of unadvertised luxury properties and qualified estate property investors searching for properties.
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March 9th, 2008 at 8:13 pm
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March 9th, 2008 at 9:17 pm
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March 16th, 2008 at 12:04 pm
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March 28th, 2008 at 1:35 pm
[…] Santa Barbara estates ranch property on Ortega Ridge in the Montecito Estates market place has sold for $21 million. It was listed for $20 million and sold for over the asking price. That’s correct, over asking in todays market! The 80-acres of pristine ranch land, ocean view ranch home, pool and tennis court, sold for over10 times it’s 1993 purchase price of $2.05 million. That’s about 17% per year appreciation. A very strong return, but not an outlandish expectation when broken down annually for the Montecito Estates market place. This beautiful Santa Barbara estates parcel can probably be patrtially divided. Santa Barbara properties in this market segment continue strong long term investment performance with the upper end market segments of Montecito estates and Hope Ranch estates home prices up over 18% for 2007. […]