Market Update for July 2020

We continue to support our clients during these difficult times. Our hearts go out to everyone directly impacted by the ongoing pandemic in and around our community.

Covid-19 has had an impact on the local real estate sales activity for the Santa Barbara area, most notably in the first two quarters of 2020 while recently showing some dramatic shifts.

There seems to be a surge in out-of-area homebuyers seeking to escape the heavily populated cities of California and our home prices are reasonable compared to some other places.

Here is a quick overview of the stats for July 2020 compared to 2019
Total properties sold 190 – 127 Homes & 63 Condos
Home sales are up +9% over July 2019 while Condos were down -19%

Median Sales Price for a Home – $1,675,000 +43%
Median Sales Price for a Condo – $764,000 +21%
Months of Inventory – 4.03
30% were All Cash Sales

Click this link here for the full report

We continue taking every precaution needed while showing properties because everyone’s safety is important to us.
The numbers included in this report are courtesy of Fidelity National Title.
All information provided is deemed reliable but has not been verified and we do not guarantee it.
We recommend that viewers make their own inquiries.

Posted on August 20, 2020 at 10:37 am
Robert Watt | Category: Uncategorized

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