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.