March 2013

Found 2 blog entries for March 2013.

Median home sale prices are a hot topic these days since they are now on the rise in most metropolitan areas. The scenario for Santa Barbara’s real estate market is no different. Year-to-date median sale prices are up 17 percent for homes and 12 percent for condos over last year’s figures. The biggest jump is in Montecito for homes, up 50 percent, and South Goleta for condos, up 86 percent.

With more sales happening and higher median prices Santa Barbara’s sold volume has increased 32 percent for homes and 76 percent for condos over last year. Hope Ranch leads the way in homes with a 159 percent increase and Carpinteria in condos with a 282 percent increase.

There are some skeptics that say when interest rates start rising home prices will fall. That

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Whether you are new to the market or have been following real estate consistently for some time it’s not always easy to determine when a property is priced right. This is especially true when inventory is low and recent sales of similar properties took place months or sometimes years ago. In cases where recent comparable property sales are not available it’s important to look at past or current market trends to calculate reasonable values and prices.

Comparing a property’s asking price to its final sale price is the most accurate way to determine if a home was priced right in its current market place. Here are the current month’s home and condo sale numbers in the Santa Barbara area.

Under $1M price range:  Total closed sales: 84;  Average asking and

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