Is the Real Estate Market Cooling?
June 2022 Statistics and Market Trends
Have homebuyers had enough? Nationally mortgage rates have spiked on top of record appreciation! Up 42% since the onset of the pandemic. Locally though the real estate market here in Santa Barbara has only seen modest changes so far. Homes may be taking a little longer to sell, and we’re seeing more price reductions/ price improvements. It seems as if the market reinvents itself every day.
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Santa Barbara also known as the American Riviera has attracted celebrities for over a century. It’s been suggested that Santa Barbara and Montecito have more celebrities per square mile than Beverly Hills and as such our rarefied community is sometimes referred to as “Beverly Hills North.”
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3112 State Street, Santa Barbara, California 93105
Mark Lomas BRE 00898298
Kirsten Wolfe BRE 01309570