Home prices in Santa Barbara continue to fluctuate, presenting a mixed picture for buyers and sellers. While the median listing home price currently averages around $2.6 million, data from Zillow indicates that home values have increased overall by 7.2% over the past year. This rise, however, comes with neighborhood variations in values. Prime neighborhoods with homes in excellent condition, priced realistically, are moving. Homebuyers taking part in this market should brace themselves for possible bidding wars, particularly in the better neighborhoods. August sales in 2024 were up from the same time in 2023.
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The Santa Barbara real estate market trends for 2024 have been admirable. In the first half of the year, there were 625 sales, a 12% increase compared to last year. While single-family detached homes accounted for 446 homes sold, reflecting a 15% increase over the same period as last year, condominiums and townhomes accounted for 179 homes sold, a 7% increase.
The average sales price for single-family detached homes rose by 14% to $3,714,928 while the median price rose by 7% to $2,250,000.
The average sales price for condominiums decreased by 3% to $1,135,143 and the median price rose 5% to $975,000.
In the second quarter of this year, all cash sales made up 42% of all sales, a 2% increase from the same period last year.
Inventory supply has picked up. The inventory supply has climbed to its highest level since 2020. Sitting at just over 3 months. Source: Fidelity National Title Company.
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Santa Barbara’s rich heritage comes alive during the first week in August with the music, dance, and pageantry of Old...
It’s a fact of life: homes come with far more emotional weight than any other investment we make…Ever wonder how our emotions influence the homes we choose and the prices we pay? A home is a refuge from the world, a place to raise a family and, for some people, an investment they hope will go up in value down the road. We fall in love with houses in a way that we never fall in love with a portfolio of stocks and bonds.
All too often, though, we don’t realize that how we feel about homes blinds us when it comes time to buy or sell. We let our emotions blind us to cold facts about the market or the realities of ownership. Or we prioritize one set of emotional needs over others that are just strong but may not be evident at first. And ignoring them can lead us to make bad financial decisions that can affect us for decades to come.
The home-selling side of the equation brings its own set of thorny issues. Homeowners often have an overly rosy view of their home and expect it to increase in value far beyond reasonable expectations. And when they put it on the market, they often stubbornly cling to their asking price—even if it means leaving it up for sale far longer than they planned and risking the possibility of not selling it at all. Here’s a closer look at some psychological missteps that buyers and sellers often make as they wade into the housing market.
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The Santa Barbara Film Festival brings together the best of film in a picturesque coastal setting. The Festival began in 1986 and has grown into an internationally recognized event for its showcasing of Independent and International Cinema, and the high-profile celebrities that attend.
The 2024 Film Festival is an eleven-day event held February 7th through the 17th. The Festival is proud to present a diverse slate of more than 200 films to over 100,000 film enthusiasts. The audience is a unique combination of film industry professionals, local, regional, and International attendees, and a large student population.
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WISHING YOU AND YOUR LOVED ONES A HOLIDAY SEASON FILLED WITH WARMTH, JOY, AND LAUGHTER.
MAY THE SPIRIT OF THE HOLIDAYS BRING YOU PEACE
AND THE COMING YEAR BE FILLED WITH PROSPERITY, GOOD HEALTH, AND BOUNDLESS SUCCESS.
Santa Barbara has been described as the “American Riviera,” a “playground for the rich and famous” and, quite simply, “paradise.” Situated between the Pacific Ocean and the Santa Ynez Mountains, Santa Barbara, California, enjoys a nearly perfect year-round climate, making it ideal for outdoor activities and drawing tourists worldwide.
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Housing Santa Barbara Day (HSBD), is a day advocating for more affordable housing opportunities for all Santa Barbara residents from all income groups. Housing affordability is vital for our homeless population, low-income residents, and all workers in all industries that support our community.
HOUSING SANTA BARBARA DAY 2023
Saturday, October 14, 2023
10:00 AM – 2:00 PM
De La Guerra Plaza, Santa Barbara
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For the second consecutive year, Carpinteria’s Kevin Costner opened his oceanside estate for a fundraiser to support One805Live!, an organization created in 2018 to support local First Responders, and raised over a million dollars.
The event attracted over 3000 guests including Harry and Meghan with entertainment provided by Maroon 5, Alan Parsons, and John Fogarty. Oprah Winfrey was also on stage interviewing Santa Barbara fireman Sam Dudley.
Also in attendance was friend and fellow realtor Adam McKaig whose outreach program to help the homeless received the Heart of the Community Award from some special guests including Price Harry.
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“Would Beverly Hills Close Rodeo Drive?” asks Sothebys International Realty’s Diane Waterhouse.
This post features a State Street Update from Nick Welsh of the Independent Magazine. It’s funny and upsetting. The powers that be seem incapable of making any kind of decision and continue to “kick the can down the road.”
Open the street.
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