The Santa Barbara County South Coast may be the most attractive area in all of California to live due to its coastal setting, weather, and slow growth policies which have been in place since 1972. With a total population of just over 200,000 coupled with a job base larger than the number of housing units available, the unrelenting demand for residences far outstrips the limited supply. In this post, we’ll share some great reasons for considering investing in Santa Barbara real estate.
Beautiful homes: Santa Barbara offers a variety of architectural styles. From traditional Santa Barbara Mediterranean-styled homes with red tile roofs to modern contemporary residences to elegant estates tucked away in seclusion. There’s something for everybody. Santa Barbara is a coastal city with a coastal vibe. The average price for a home in Santa Barbara is around $1,300,000. If you’re thinking about investing in real estate Santa Barbara may be just what you’re looking for.
Home prices are rising: Home prices in Santa Barbara are still rising. The home you purchase can serve as an income property or a second home. Los Angeles is less than a two-hour drive, San Francisco is a relatively peaceful five to six-hour drive, and why not take the train or fly into Santa Barbara’s airport? Santa Barbara is very accessible.
Interest in Santa Barbara real estate is greater than ever: The interest in homes in Santa Barbara is greater than ever, and that’s a good reason to consider investing here. A large number of Technology Companies have moved here to enjoy the great weather, small-town vibe, and great schools. Santa Barbara is evolving into a fairly significant tech hub.
Santa Barbara is the perfect spot for a vacation home: Beautiful beaches, excellent restaurants, modest traffic, Museums, all kinds of entertainment venues, the Santa Barbara Bowl, and a variety of cultural events are just a few of the things that Santa Barbara is famous for.
Living in Santa Barbara is different from living anywhere else: Demand to live on the South Coast comes not only from local South Coast buyers (who account for 69.1% of the sales), but from North County buyers (1.2%), California buyers (14.7%), Western United States buyers (6.4%), Eastern United States buyers (5.8%) and Buyers from Abroad (2.8%). The South Coast’s Median Home price runs over twice the price of California’s Median Home price. Santa Barbara is a world-class destination and a highly desirable place to live; real estate values are driven by lifestyle choices, not just by economics.
Current Price Trends for August 2019
Single Family Residence Market
Median Sales Price = $1,292,500
Lowest Sale Price = $545,000
Highest Sale Price = $13,000,000
Condominium/PUD Market
Median Sales Price = $675,000
Lowest Sale Price = $401,500
Highest Sale Price = $1,585,000
Whether you are a first-time home buyer or a seasoned veteran who has bought and sold properties for decades, buying a second home or investment property can be a complex process. We believe that there is nothing that can replace the guidance provided by a knowledgeable and trusted member of the real estate community.
If you’re thinking about investing in Santa Barbara Real Estate let us show you what opportunities can be found here in the American Riviera.
