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Good news for Santa Barbara Homeowners

Santa Barbara Homeowners The numbers tell a positive story for next-door Southern California

Santa Barbara homeowners, listen up! I just read an article in the Los Angeles Times that home prices have hit record highs in many corners of neighboring Southern California. And they’re not finished yet.
In Los Angeles County, the median price in June jumped 7.4% from a year earlier, to $569,000, surpassing the previous record set in May. In Orange County, the median was up 6.1% from 2016, and tied a record reached the previous month at $695,000. Let’s take a look at how those statistics stack up with real estate trends in Santa Barbara County.
According to the County Recorder’s Office, the overall number of property sales on the South Coast of Santa Barbara County was up 3%, from 147 in July 2016 to 152 in July 2017. The median sales price was up 3%, from $899,000 in July 2016 to $930,000 in July 2017, and the average sales price was up 5%, from $1,388,010 in July 2016 to $1,451,404 in July 2017.  In July 2017, there were 108 House/PUD sales with a median sales price of $1,147,500 and an average sales price of $1,678,856.  In July 2017, there were 44 Condominium sales with a median sales price of $639,500 and an average sales price of $866,432.
Let’s drill that down even further:
In Montecito, the number of sales was down 27%, from 22 in July 2016 to 16 in July 2017.  The median sales price was up 29%, from $2,500,000 in July 2016 to $3,219,000 in July 2017, and the average sales price was up 26%, from $2,823,950 in July 2016 to $3,556,156 in July 2017.  The lowest Montecito sale price in July 2017 was a house on Augusta Lane for $1,525,000, while the highest was an estate on Ayala Lane for $7,500,000.
In Santa Barbara, the number of sales was up 14%, from 66 in July 2016 to 75 in July 2017.  The median sales price was down 4%, from $982,500 in July 2016 to $945,000 in July 2017, and the average sales price was down 2%, from $1,159,886 in July 2016 to $1,140,920 in July 2017.  The lowest Santa Barbara sale price in July 2017 was a condominium on West Gutierrez for $277,500 and the highest was a home on Garden Street for $4,200,000.
In Hope Ranch, the number of sales was up 50%, from 2 in July 2016 to 3 in July 2017.  The median sales price was up 13%, from $2,987,500 in July 2016 to $3,387,500 in July 2017, and the average sales price was up 16%, from $2,987,500 in July 2016 to $3,462,333 in July 2017.  The lowest Hope Ranch sale price in July 2017 was a house on Via Vistosa for $1,379,000, and the highest was an estate on Cresciente Drive for $5,620,000.
In Carpinteria, the number of sales was up 50%, from 14 in July 2016 to 21 in July 2017.  The median sales price was up 2%, from $737,750 in July 2016 to $750,000 in July 2017, and the average sales price was up 11% from $1,412,429 in July 2016 to $1,564,976 in July 2017. The lowest Carpinteria sale price in July 2017 was a condominium on Birch Street for $393,000, and the highest was an estate on Lambert Road for $14,200,000.
In Summerland, the number of sales was down 50%, from 2 in July 2016 to 1 in July 2017.  The median sales price was down 8%, from $1,802,500 in July 2016 to $1,662,500 in July 2017, and the average sales price was down 8%, from $1,802,500 in July 2016 to $1,662,500 in July 2017.  The only Summerland sale in July 2017 was a house on Golden Gate Avenue for $1,662,500.
In Goleta, the number of sales was down 11%, from 41 in July 2016 to 36 in July 2017.  The median sales price was up 11%, from $739,000 in July 2016 to $817,500 in July 2017, and the average sales price was up 13%, from $771,366 in July 2016 to $873,000 in July 2017.  The lowest Goleta sale price in July 2017 was a condominium on Dearborn Place for $346,000, and the highest was a house on Paseo Cameo for $1,995,000.
Source: County Recorder’s Office
If you’re considering buying a home in Montecito, Hope Ranch or any of Santa Barbara’s upscale communities please call me at 805.886.9378 or email me at Cristal@montecito-estate.com. Now would be the perfect time to add your name to the list of Santa Barbara homeowners. Call me!

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