The real estate market in Santa Barbara continues to remain buoyant even with high-interest rates. As the year progresses our unique coastal community continues to attract interest and investment in real estate.
Click Read More below for the California Association of Realtors Forecast for 2024 and a video from Altos Research with an overview of the National real estate market.
The Santa Barbara real estate market has enjoyed a historic run in home values over the course of a decade. As a result, real estate in Santa Barbara has become a luxury commodity. However, despite rapid appreciation, demand remains intact and should catalyze activity moving forward. It appears that today’s high prices aren’t enough to scare away buyers.
Click Read More below for sales statistics provided by Fidelity Title Company and a video about Market Trends nationally by Altos Research to give you a more defined overview of market conditions.
Juneteenth is a federal holiday in the United States commemorating the emancipation of enslaved African Americans. It is also often observed for celebrating African American culture. Originating in Galveston, Texas, it has been celebrated annually on June 19 in various parts of the United States since 1866.
Overall, homes in California are slightly less expensive than they were one year ago — but only very slightly. According to data from the California Association of Realtors (CAR), the median single family home sold for $777,500 in November 2022, compared to $782,480 in November 2021. Today’s significantly higher interest rates make that already-high price feel even less affordable.
This does not hold true across all areas of the state. For example, Fresno, Los Angeles and Orange County saw equally slight increases year-over-year, while the wine-country regions of Napa and Sonoma saw more significant increases.
Homes are also taking longer to sell, CAR reports. In October 2021, homes spent an average of 11 days on the market before selling. A year later, that number had more than doubled to 23 days on the market.
Click “Read More” below for Market Trends Statistics for Santa Barbara and artist information.
Fractional home ownership. One-eighth ownership. Basically a timeshare. What could go wrong?
Disrupter Pacaso, is a Bay Area-based company that buys homes and then sells fractional interests in them to second-home buyers. After the sale – in which the company makes a profit – the company then manages the home, and the co-owners use Pacaso’s technology to schedule time in the home.
What do Homeowners need to know about selling in today’s market? You’ve probably heard about the cooling of the housing market and you may be thinking of selling your home and wondering what that means for you. While it’s not at the same peak intensity we saw during the pandemic it’s still a seller’s market.
A couple of recent videos with insights into today’s real estate market. Simply inventory is painfully low and interest rates have reached the point where buyers are either waiting for the perfect house competitively priced or sitting on the sidelines waiting for things to significantly change.
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