Alys Martinez of KEYT television in Santa Barbara reports on County Supervisor’s ban on Short Term Rentals. The Supervisors say they’re “reaffirming zoning regulations.” This has been a controversial topic that has pitted neighbors against neighbors in Santa Barbara. Many believe their property values are threatened by commercial use of homes zoned for residential use only. And, that the quality and character of their neighborhood is changed by a continual flux of unfamiliar short-term tenants.
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The Santa Barbara housing market is very competitive. Homes in Santa Barbara receive 4 offers on average and sell in around 31 days. The median sale price of a home in Santa Barbara was $1.5M last month, down 17.0% since last year. The median sale price per square foot in Santa Barbara is $1.24K, up 5.3% since last year. Click Read More below for Charts, Graphs, and more Statistical Data
Real Estate News You Can Use! How's the housing market in California right now? According to the California Association of Realtors, the monthly and annual home price growth accelerated in August. For the first time in five months California house sales also increased which was mainly due to a window of opportunity generated by a temporary decline in mortgage rates that created a little more favorable lending climate.
Even with the rapid appreciation seen across the country over[...]
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