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2015: The Year In Real Estate in Montecito and Santa Barbara

springLast year was stellar for the real estate industry here in Montecito and Santa Barbara County

In general, last year was not so surprising since we all expected the real estate market would continue to recover in 2015. The first half of the year was marked by
rapidly rising prices, fueled in part by 
low-interest rates and historically low 
inventory levels. This causes upward pressure on prices, both for Montecito and Santa Barbara County as a whole, and sets the stage for a fast start to the year.

LOOKING AT MONTECITO
Category Jan 1st June 30th Sept 30th Dec 31st Trend
Median List Price $4,995,000 $4,295,000 $3,990,000 $4,850.000 -2.9%
Average List Price $7,128,263 $5,803,577 $5,716,312 $7,026,043 -1.4%
Median Sales Price $2,535,000 $3,535,000 $2,770,000 $2,397,500 -5.4%
Average Sales Price $2,472,500 $4,733,684 $3,038,960 $2,771,295 +12.1%
Days on the market 156 71 67 89 -43%
Properties for Sale 94 124 125 116 +23.4%
Properties Sold 31 (Q4-2014) 100 (Q 1&2) 40 (Q3) 48 (Q4) +55%
Asking Price / Sq. Ft. $961 $1,023 $1,156 $1,206 +25.5%
Sold Price / Sq. Ft. $737 $962 $877 $923 +25.2%

LOOKING AT Santa Barbara
Category Jan 1st June 30th Sept 30th Dec 31st Trend
Median List Price $1,149,000 $1,350,000 $1,279,000 $1,385.00 +20.5%
Average List Price $1,832,237 $2,187,611 $2,036,880 $2,406,937 +31.3%
Median List Price $1,149,000 $1,350,000 $1,279,000 $1,385.00 +20.5%
Median Sales Price $860,000 $1,105,000 $957,500 $1,000,000 +16.3%
Average List Price $1,832,237 $2,187,611 $2,036,880 $2,406,937 +31.3%
Average Sales Price $1,169,363 $1,360,102 $1,089,893 $1,128,535 -3.5%
Median Sales Price $860,000 $1,105,000 $957,500 $1,000,000 +16.3%
Days on the market 70 52 40 51 -27.1%
Average Sales Price $1,169,363 $1,360,102 $1,089,893 $1,128,535 -3.5%
Properties for Sale 189 234 249 153 -19.1% Days on the market 70 52 40 51 -27.1%
Properties Sold 196 (Q4-2014) 462 (Q 1&2) 235 (Q3) 173 (Q4) -11.7%
Properties for Sale 189 234 249 153 -19.1%
Asking Price / Sq. Ft. $774 $814 $706 $802 +3.6%
Properties Sold 196 (Q4-2014) 462 (Q 1&2) 235 (Q3) 173 (Q4) -11.7%
Sold Price / Sq. Ft. $673 $712 $641 $641 -4.8%

LOOKING at my listings in 2015:
Averaging more than 1 transaction every 2 weeks
My Listings sold at 1.2% above the market average
My listings spent, on average, 16.5 days less time on the market
5 Properties represented at FULL price
1 Property sold Over list price

There you have it, 2015: the year in real estate in Montecito and Santa Barbara. In 2016, let me put my 28 years of full-time real estate experience and knowledge to work for you! I am consistently rated in the top 1% of Sotheby’s International Realty Agents nationwide and have the support staff and proven results to get your property sold. If you are thinking of selling your property in Montecito or Santa Barbara, or wish to know its current market value please contact me at 805.886.9378 or email me at Cristal@montecito-estate.com for a confidential evaluation.

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