January 2011

Found 2 blog entries for January 2011.

The housing market in Santa Barbara and surrounding areas is already off to a fast start in 2011. Year-to-date sales volume is up 25%, median sales price is up 22%, and number of active listings is down 3% when compared to 2010. Of course we’re only 18 days into the year but these numbers may be a sign of things to come. Especially when considering that the number of homes currently under contract is up 26%.

Although the number of available homes for sale in Santa Barbara is relatively low, there are more sellers that will be coming on the market in the months ahead. Some of the new inventory will be re-lists from last year. Many of these properties are currently “pocket listed”. This means that they are available for sale but are not being advertised

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Many homes in Santa Barbara have come off the market over the holidays.  The inventory level of available properties dropped 15% from December to January, a larger than normal percentage.  Although last December was the wettest in Santa Barbara history with over 10 inches of rain, the real estate market still managed to see 65 properties go pending.  Some sellers who had their properties on the market last year will bring them back on early this year, others will wait or have decided not to sell all together.

With the general economy expecting and already showing improvement in many measurable areas, home sales don’t usually lag too far behind.  It will be interesting to see how the numbers play out this year.  A number currently on the rise is the

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