Even though some of us live here in Paradise full time, Santa Barbara is a ‘vacation home’ destination for many. Prices have obviously dropped in the past 5 years, but with this year’s robust sales activity and the shifts in the housing markets generally across the country, Santa Barbara is high on the list of those vacation home areas slated to rise significantly in the next 5 years.
According to the Wall Street Journal, Santa Barbara is in the category of markets starting to heat up. The drop from our peak prices, in 2005, was 51% and our prices are forecast to rise 7.4% per year for the next five years.
Napa, CA. is another market in the ‘heating up’ category and is predicted to rise 9.7% per year.
If this holds true, it may be time to buy your vacation home or permanent home now.
Check out Santa Barbara home prices and see if your next home might be here in Paradise! For more information on the Santa Barbara market, contact Karen Blackburn at 805-470-1002 or karenSBrealestate@gmail.com
Living in Santa Barbara 