Market Update for March 2020 and 1st Quarter YTD

We hope this information finds you safe, healthy and taking care of yourself and loved ones during this unprecedented time.

Our normal business activities have drastically changed with the banning of open houses, property caravans, price sets, and in-person meetings. We have all the technology in place needed in order to move toward virtual tours, marketing,  and using social media to stay connected. Our affiliations with Leading Real Estate Companies of the World, Luxury Portfolio and Mayfair International have given us even more tools and a broad reach to accomplish what we need to serve our clients.

We are pleased that Real Estate has been identified as an essential service by Homeland Security. This gives us an opportunity to serve buyers and sellers who have the need to buy and sell during this time. We are sensitive to our client’s needs, emotions, and are listening to what feels comfortable to them. We continue to conduct our business virtually, but on those occasions where this is impossible, we are using all safety precautions including social distancing and careful sanitizing.

Our Community is very much on our minds and we continue to do what we can to support it.

Now for this month’s Market Report, the numbers tell the true story.

  • 128 total properties sold in March, 91 homes & 37 Condos
  • The median sales price for a home was $1,330,000
  • The median sales price for condo’s $652,000
  • 3.22 Months of Inventory

Interestingly enough, the same number of properties were sold in February also. I feel the stats for April will be more reflective of how the market may be affected by this pandemic.

Until next time…

March/1st Qtr. YTD Report


Posted on April 17, 2020 at 5:30 pm
Robert Watt | Posted in Blog, Market Report |

Market Update for February 2020

This month’s Market Update Report shows the market conditions are business as usual despite the latest news around Coronavirus.

  • 128 total properties sold in February, 92 homes & 36 Condos
  • Median sales price for a home was $1,189,500
  • Median sales price for condo’s $682,500
  • 3.58 Months of Inventory

Remember these are February results. Now that we are halfway through March, it will be interesting to see how this month turns out with the latest concerns around the COVID-19 (Coronavirus).

We at Village Properties are as concerned, as many are, about staying healthy during these challenging and uncertain times.

Along with the Market Report Link, here are links to the CDC’s recommendations for your reference, the Santa Barbara County Public Health Department, and the California Department of Public Health regarding the virus and what to be aware of.

We are taking the advice of the CDC and being extra cautious when conducting Real Estate business in our beautiful community.

We’ll be here for your real estate needs and grateful for your support.

Stay healthy!

February Market Report

 


Posted on March 16, 2020 at 3:57 pm
Robert Watt | Posted in Market Report, Uncategorized |

2019 Year End Real Estate Market Update

Happy New Year!

It’s a new year and a new decade ahead and the results from last year’s real estate market report are in, the new report shows how well the market is doing.

Here is a link to the full report:
December 2019 Year-End Report

176 total properties sold during the month of December, 124 homes and 52 condos with an average 78 days on market.

The median price is up 5% for homes, going from $1,200,000 to $1,258,000 and up 3% for condos, from $680,000 to $702,250.

The market is strong, from Goleta to Carpinteria, Montecito, and Santa Barbara.are

What does your next home look like?


Posted on January 22, 2020 at 4:31 pm
Robert Watt | Posted in Market Report, Uncategorized |

Market Update for November 2019

 

One of the most asked questions I get is, So how’s the real estate market?

I won’t bore you with all the numbers, I’ll just mention some of the highlights…

So, for the month of November

Total sales were:
83 homes and 40 condos, for a total of 123 properties sold.

The median price for a home was $1,275,000 which is a 19% increase over 2018 and the median price for condos was $665,000 which is 2% more than in 2018.

The average days a property was on the market were 79 for homes and 62 for condos.

Current inventory level is at 3.77 months, which indicates its still a seller’s market

We continue to see’s strong sales across all price points from Goleta to Carpinteria and are still experiencing multiple offers over asking in some cases, which can be the challenge for most homebuyers.

There’s more detailed information regarding November’s report in the link below if you’re interested.



November 2019 Market Report


Posted on December 20, 2019 at 12:53 pm
Robert Watt | Posted in Market Report |

Market Update for 3rd Quarter 2019

Fall in Santa Barbara is certainly a beautiful season and one of my favorite times of the year.
Real Estate sales typically slow during the fall, however sellers who are realistic, understand the market and how to price and prepare their homes for sale, will have no trouble selling their homes.

The numbers don’t lie, which is a good thing according to the most recent stats.

Some will say the market is slowing, others would agree its better than it appears as it continues to exceed last year’s numbers.

Sales of Single-family home are up 8% over last year with a total of 987
More Condo’s sold with a total of 495 which is 9% over last year at the same time.
Overall, 1,482 residences have sold through the 3rd quarter of 2019 showing an increase of approximately 8% over 2018.

Inventory levels are the challenge as it continues to show increased demand for housing with more home buyers than properties available to purchase.

From Goleta, Santa Barbara, Montecito, Summerland, and Carpinteria where would your dream home be?

For a look at the full report click the link below.

September 2019 Marketing Report


Posted on October 21, 2019 at 4:40 pm
Robert Watt | Posted in Blog, Market Report |

Real Estate Market Update for August 2019

The real estate market in the Santa Barbara area is alive and well.

We continue to see brisk activity in all price ranges from Carpinteria to Goleta and everything in between, including Montecito and Santa Barbara.

In the month of August, there were a total of 176 single-family homes and condos sold with a year to date (YTD) total of 1326 combined properties.

Also, the median sales price is up approximately 7% over last year from $1,205,000 to $1,292,500.

With that, the number of single-family home sales compared to last year was 827 in 2018 and 883 through August of this year, that’s also a 7% increase.

Now that interest rates are favorable there is always an opportunity to own property.

What does your next home look like?

For a look at the full report click the link below.

August 2019 – SB Village Marketing Report

 


Posted on September 20, 2019 at 9:59 am
Robert Watt | Posted in Blog, Market Report |