Santa Barbara Real Estate

"Practicing the Fine Art of Real Estate"

Santa  Barbara  Real  Estate header image 2

How’s The Real Estate Market Doing?

June 12th, 2015 · No Comments · Mark Lomas and Kirsten Wolfe

2AerialSBJune2015The inventory is dwindling and prices are rising.  This is a brief analysis, by Gary Woods of Sotheby International Realty, of the Santa Barbara Real Estate Market including Carpinterial, Summerland, Montecito, and Hope Ranch, downtown Santa Barbara, and Goleta through the month of May 2015. For the Single Family Home’s market sales remained strong for the month coming in with 127 closings up from the 95 we saw in April. The Median Sales Price rose to $1,280,000 up from the $980,000 we saw at the end of April while the days on the market for sold properties stayed stable at 52 from the 50 we saw the previous month.  The opened escrows stayed stable from 121 in April to 120 in May while the median list price on those escrows stayed steady at about $1.19 million from $1.17 million in April. There were about 145 new listings that came on the market in May with a median list price of approximately $1.195 million and an average list price of about $2 million with the overall inventory falling from 293 units for sale at the end of April to around 286 at the end of May.

Year over year sales are up about 12.5% with the median sales price up to roughly $1.13 million for a 2.5% rise. The average sales price is also up going from just over $1.67 million in 2014 to approximately $1.89 million in 2015 and the numbers of escrows are up about 19% to roughly 540 with the median list price on those escrows up about 1% to about $1.175 million

Share this:
Share this page via Email Share this page via Stumble Upon Share this page via Digg this Share this page via Facebook Share this page via Twitter

Tags: ·

No Comments so far ↓

There are no comments yet...Kick things off by filling out the form below.

Leave a Comment