September 2011

Found 2 blog entries for September 2011.

August was a hot month for national real estate sales with figures up 7.7% from July. Averages are nice but how is the local real estate market performing? With Santa Barbara’s continued attraction as one of the most desired places in the world to live it’s not surprising that its real estate is outperforming the national average.

August sales figures were up 11.3% from July in the Santa Barbara area, and up 35% from last August. During the same time period properties under contract increased 23% and inventory levels decreased 15%. September already shows an 8% increase in sales.

Many say the real estate market is moving sideways according to national statistics. This may be accurate in many places but it’s important not to disregard the…
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When you start seeing two bedroom cottages selling for over ten million dollars you might say that the market’s not doing too badly. In Montecito a sale which just closed on Edgecliff Lane bordering Miramar Beach turned the heads of many beach goers. A modest two bedroom, three bath cottage originally built in 1929 on half an acre captured $10.75 million. Both parties involved in the off market transaction were represented by Village Properties. Only three beach front homes are currently on the market in Montecito, ranging in price from $4.65M to $17.95M. Click here for details.

The supply of available Santa Barbara area real estate has dropped again for the forth straight week. With good properties becoming harder to find buyers are starting to see…
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