May 2016

Found 2 blog entries for May 2016.

Santa Barbara is heading into this summer with 34% more housing inventory than last summer and 11% more inventory than the summer before. Year-to-date sales have trended the opposite way, down 19% from last year and even with the year before. A still rising median price reflects a larger percentage of higher end home sales, which has been aided by the increase of luxury listings as opposed to entry level homes.

In addition to keeping an eye on the real estate market there are many activities to enjoy in and around Santa Barbara this summer. Following are some of the upcoming attractions!

May 26 - Downtown Live Art & Wine Tour, State Street north of Carrillo Street with final party at the Granada Theatre

May 28-30 - I Madonnari Street Painting

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It was announced at the 2016 Santa Barbara County Economic Summit last Thursday that rents in the Santa Barbara area have increased 8.7% over the past year, in addition to there being a staggeringly low rental property vacancy rate of less than 1%. Also echoed at the summit, held at the Granada Theatre on State Street, was that the U.S. economy is currently in a very slow growth mode and will likely stay that way for some time. Along with slow growth are expected to remain low interest rates for the foreseeable future. With the low rates of return currently offered by U.S. bonds and the unpredictability of stocks it makes sense that real estate is now being looked at as a preferred method of investment for retirement.

Condos, low-end houses, and

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