NOW MIGHT BE THE BEST TIME TO DO IT
In a recent interview discussing the housing market, First American’s Chief Economist, Mark Fleming, put it simply:
“The biggest challenge is really the availability of supply.”
What does this mean to you as a seller?
The best time for listing your home can be when there is less competition. That increases the possibility of getting a better price and encountering fewer hassles in the transaction.
Over the last two years, the luxury sector has experienced record-setting price growth and robust activity. In 2019, upscale homes sellers will continue to experience home price growth, albeit at a slower pace.
“It’s a different world at the end of year than it was at the start of the 2018.” Danielle Hale, Chief Economist at Realtor.com.
Here are the details: During the first 10 months of 2018, about 100,500 homes sold for $1 million or more across 85 luxury markets in the U.S. Compare those numbers to the same period in 2017 and you’ll see that’s an increase of 10%. Once all the luxury real estate closings for 2018 are recorded, experts at Realtor.com predict we’ll see a record-breaking 118,000 home sales at or above $1 million.
Some areas, like upscale Santa Barbara, Montecito and Hope Ranch are on pace to see significant growth this year. They include the highest-end luxury sectors.
“These locales will attract demand from higher cost areas as luxury buyers reallocate investments during and post-tax season.” Realtor.com report
What does this mean for those living, or planning to buy in upscale Santa Barbara? It means 2019 will be a good year for buyers, who stand a chance of encountering less competition. Granted, no one has a crystal ball that can see into the future. But the instincts of and projections by trusted industry pros can help guide your decision.
If you’re a buyer or planning on moving to upscale Santa Barbara in 2019, I have some amazing properties to show you.
Listing your home with me means it will be in good company
Take the Spectacular Ocean View Estate in Montecito pictured at the top of this blog. For fans of Modernism, Post-modernism, Neo-classicism and Art Deco, this property is a dream come true! Sitting on approximately 2 acres, architect James Morris, a founding partner of Santa Barbara’s acclaimed The Warner Group, combined all these styles to create this stunning Montecito ocean view estate. Two subsequent renovations have embellished the estate with the finest materials and meticulous craftsmanship. The result is a residence that rivals any home you’ll find on California’s Central Coast.
Read: The Santa Barbara School District
On the other hand, if you are considering listing your home here, NOW is the best time to do it. Give me a call at +1 805.886.9378 or email me at Cristal@montecito-estate.com and I’ll happily add your home to my portfolio of fine properties. I also work with buyers who are looking for the perfect place to call home. Let me work my magic with you!