SANTA BARBARA REAL ESTATE UPDATE
There is some positive news with this update of Santa Barbara Real Estate sales year to date. The number of sold properties is up by 16% over last year at this time. The median sales price is down however, by about 6%. The Santa Barbara median sales price is down by 37% from the peak of 2007 – wow this is great for Buyers! Plus with interest rates being so low, currently fluctuating around the 4% mark, this may very well be the best time to get into the Santa Barbara real estate market and have affordable payments! Looking at the high end, Santa Barbara luxury market ($2,000,000 and up) this segment is still showing signs of weakness with ONLY 10% of the sales in October being above $2,000,000. There are some incredible opportunities for high end buyers in Santa Barbara and Montecito with some very motivated sellers especially as we approach the holidays and end of the year! Click here to search for homes and estates for sale in Santa Barbara.