Santa Barbara County Real Estate Market Update

THOUGHTS FROM THE EASTER TEAM

Sometimes when looking at our Real Estate Market Stats, we like to draw up bullet points.  What are the glaring trends that we continue to see, and what do they mean for the future of the Market in Santa Barbara County?  Let’s take a look:

1.  No cash sales in any area for June:  Interest rates continue to stay low, hovering between 3-4% (Jumbo loans are a whole different animal, and jumped all over the place – we can set you up with a meeting with a few amazing lenders, if you need more information)

2.  Large uptick in off-market sales in all areas: Inventory is low, so we are doing everything we can to find the perfect property for our clients – including off-market properties. It continues to be a great time to sell!

3.  For Single Family Residences, Average Price is up 20% and Median Price is up 19%, from June 2019: Low inventory, high demand for SFR!

4.  There was a big dip in the number of transactions for April and May of this year (nearly 50% drop for both months).  HOWEVER, the total number of transactions for June 2020 (161) is right back up to where it was for June 2019 (186) : Locals are perhaps feeling a bit more acclimated to dealing with life during the Pandemic, and many people from out of town are wanting to relocate to our beautiful County.

Please feel free to call or email us, to discuss the market in your area (all calls will be confidential).  Our Team would love to help you list your home, or buy your dream home!