May statistics are out for Santa Barbara’s housing market. There’s not as much on the market as in previous years, and there’s pent-up demand out there, resulting in multiple offers and some frustrated buyers.
Number of sales for the period January-May:
2008 – 315
2009 – 270
2010 – 353
2011 – 340
2012 – 475
The last time we had this many sales for the first 5 months of the year was 2004-2005, in the height of the boom.
Median prices are holding steady, with May of 2011 showing a median sales price of $795,000. and May of 2012 showing $805,000.
Here’s the inventory totals as of this writing (not including condos):
East of State: 124
West of State: 80
Montecito: 207
Hope Ranch: 26
Goleta South: 29
Goleta North: 74
Entry level priced-homes are disappearing. Currently, there are only 13 homes in the city of Santa Barbara priced under $500,000.
Low interest rates persist and are predicted to stay low for at least another year. Realty Times posts the latest rates for both fixed and ARM loans.
If you’re interested in knowing more about the Santa Barbara market or want to see what’s for sale, contact me anytime.
Karen Blackburn
KELLER WILLIAMS REALTY
805-470-1002
Living in Santa Barbara 