Distinctive Santa Barbara Real Estate

Santa Barbara Real Estate Statistics 12/23/11

There are 495 Santa Barbara homes listed for sale. There are 186 Santa Barbara homes in escrow. 7 Santa Barbara homes closed escrow today. To view homes for sale matching your specific criteria go to http://www.DistinctiveRealEstateOnline.com

Recent Uptick in Pending Sales of High End Santa Barbara Real Estate

There has been an uptick in Santa Barbara luxury real estate entering escrow recently.  Currently, the most expensive among them is a beautiful oceanfront home in Hope Ranch. Situated on nearly 8 acres, this oceanfront jewel has been on the market over 200 days.  It was originally listed at $28 million, and then reduced to its current price of $23.5 million before finding its buyer.  Another recent high end escrow is a Montecito home on over 2 ocean view acres with guest house and pool.  It is listed at $15.3 million and has been on the market for just under a year before finding the buyer.   Following that is another Montecito ocean view home with pool and guest house, very near the famed San Ysidro Ranch. It is currently listed just under $15 million.  It was listed in 2008 for about a year with an original asking price of $19.5 million.  It was reduced to $16 million and then to its current asking price of just under $15 million before it found the buyer. The next piece of Santa Barbara luxury real estate in escrow is an oceanfront property at Sand Point in Carpinteria.  Its original asking price was $15.9 million, before being reduced to its current list price of $13.8 million.  Next in the line of high end Santa Barbara real estate in escrow is a bit of a fixer with ocean views, pool & tennis court in Montecito.  This property was originally listed at $10 million about a year ago.  Its current list price is just under $9 million.  This Montecito home went into escrow very quickly following the $1 million price change and fell out.  It has just gone back into escrow again.  Last in the long list of high end Santa Barbara real estate escrows recently is an ocean view Hope Ranch home with pool & tennis court.  Originally listed in 2008 at $10.750 million, it is currently listed at just under $6.5 million.

This significant uptick in Santa Barbara luxury real estate demonstrates that high end buyers feel this is a good buying opportunity.   As you see here, sellers of high end Santa Barbara luxury real estate have made substantial price consessions in their asking prices, and it is highly likely the final sales price will show even more consession on price as well. Recent comparable sales show the Santa Barbara real estate market is in a strong buyers market.   Timing is everything... 

To view Santa Barbara luxury homes for sale, Montecito Estate for sale and Hope Ranch oceanfront homes for sale visit www.DistinctiveRealEstateOnline.com or contact Wendy Gragg at 805.453.3371   

The Year to Date State of the Santa Barbara Real Estate Market

For purposes of this analysis, the Santa Barbara real estate market is defined as all properties in Santa Barbara from Carpinteria through Goleta.  The year to date state of the Santa Barbara real estate market is that the median home price is flat with this same time last year, currently standing at $700,000.  The number of Santa Barbara properties sold is up nearly 13% over this same time last year, while the number of new listings in Santa Barbara is up just over 3% from this same time last year.

The Santa Barbara real estate market still has a good supply of inventory for sale, and there are many eager sellers ready and willing to make a deal.  You can search Santa Barbara real estate matching your specific criteria at  www.DistinctiveRealEstateOnline.com or you can call Wendy Gragg at 805.453.3371. 

Montecito Real Estate Statistics - August 2010

August 2010 marks the third consecutive month of double digit percentage increases in the number of homes sold in Montecito on a year over year basis.   August 2010 also marks the third consecutive month of a decline of new homes listed for sale in Montecito on a year over year basis.

On a year to date basis, the number of Montecito homes sold is up 7.6%, and the number of new listings of homes in Montecito is down 8.2%. 

Clearly, more Montecito homes are selling, and fewer Montecito homes are being listed for sale.   If this continues, the Montecito real estate market will experience a supply/demand imbalance.  Timing is everythng, and now is a great time to buy a home in Montecito.    There is ample supply in every price range, and there are many Montecito sellers anxious to sell.

To view Montecito homes for sale, go to www.DistinctiveRealEstateOnline.com or contact Wendy Gragg at 805.453.3371.

Santa Barbara Oceanfront Real Estate Activity

The Santa Barbara real estate market has seen several oceanfront sales this year.  Most of which have sold at half of the original asking price.   This week, a Santa Barbara oceanfront home was listed at $9 million, and sold at $5.7 million.  

Other Santa Barbara oceanfront real estate sales this year include an oceanfront home originally listed at $32.5 million that sold at $16.250 million as well as another Santa Barbara oceanfront home originally listed at $29.950 million that closed this year at $15.5 million.

The Santa Barbara oceanfront real estate market sales this year favor the buyer.   Santa Barbara is world renowned for its beautiful beaches, clean and uncluttered environment, and overall exceptional quality of life.  To view oceanfront homes for sale in Santa Barbara, go to www.DistinctiveRealEstateOnline.com or contact Wendy Gragg at 805.453.3371   

Montecito Real Estate Statistics for July 2010

The Montecito Real Estate market enjoyed another month of positive statistics.  The number of Montecito homes sold in July 2010 was up an astonishing 50% over this same period last year.  The dollar volume of homes sold in Montecito in July was up an incredible 115%!  The median sales price of Montecito homes sold in July was up 46% over July 2009. 

The number of new listings of homes for sale on Montecito on the other hand was down 28%.  This is the second consecutive month of positive sold data, and negative listing data.  In June,  the number of Montecito homes sold was up 22%, the dollar volume of Montecito homes sold was up 23% while the number of Montecito homes listed for sale was down 24% year over year.

If this trend continues, Montecito will be back in the supply and demand constraints it has experienced for many years.  You can browse homes for sale in Montecito based on your specific criteria at your leisure with no pesky sign ups.  Go to  www.DistinctiveRealEstateOnline.com  If you prefer personalized attention, contact Wendy Gragg at 805.453.3371 

Montecito Real Estate Statistical Update

The Montecito real estate statistics are showing signs of a potential turn around.  In June 2010, Montecito saw an increase of 22% more homes sold than in June 2009.  So far, July is pacing similarly - currently, the number of Montecito homes sold in July is up 25% over July last year.

The median home price of Montecito homes sold in June 2010 was up over 6% year over year. So far, July is pacing very stongly - currently, the median sold price in July is up an incredible 46% over last year.

At the same time, the number of newly listed homes for sale in Montecito has been experiencing significant declines.  In June, the number of Montecito homes listed for sale was down 24% over June last year.  So far, July is pacing signficantly lower - currently, the number of newly listed Montecito homes is off 53% over last year.  

Montecito is selling more homes, and listing less homes.  If this trend continues, it will put the  Montecito real estate market  back in the the supply and demand constraint it has experienced for many years. Right now, there are still a good number of Montecito homes for sale, and there are many motivated sellers.  Recent comparable sales in Montecito show many good deals.  To view homes for sale in Montecito, visit www.DistinctiveRealEstateOnline.com  For more information, contact Wendy Gragg, 805.453.3371.

Montecito Real Estate Statistics - Mid July 2010

Montecito Real Estate statistics mid way through July show that the number of homes sold in Montecito is down by -25%, yet the dollar volume of the homes that were sold in Montecito is up +21.2%.  What is also important to note, is that the number of newly listed Montecito homes for sale is down an incredible -78% over the same time last year.  

It is important, particularly in times like these to monitor real estate data closely.  Please check in regularly for Santa Barbara real estate statistics, and Montecito real estate statistics.   You are also welcome to call Wendy Gragg at 805.453.3371 for more information.   Log on to www.DistinctiveRealEstateOnline.com to view homes for sale in Montecito, Hope Ranch and Santa Barbara at your leisure.    

Santa Barbara Real Estate Statistics

Santa Barbara real estate statisics are relatively impressive as we mark the half way point through 2010.  While the  majority of the news headlines continue talk of the the housing downturn, the Santa Barbara real estate market statistics tell a more optomistic story.

The number of homes sold in Santa Barbara is up over +18% year over year.  The dollar volume of Santa Barbara homes sold is up +27%.  While half way throug the year,  the median sales price of homes sold in Santa Barbara is up just 1% year over year, the Santa Barbara median sales price has increased throughout most of 2010, and has had positive percentage gains year over year as well.

There is an ample supply of Santa Barbara homes for sale in a variety of price ranges.  Interest rates are tremendous, and there are many motivated sellers ready to make a deal.  Go to www.DistinctiveRealEstateOnline.com to browse inventory matching your specific criteria.

If you prefer, you may contact Wendy Gragg at 805.453.3371 

Montecito Real Estate Statistics for May 2010

The largest number of homes for sale in Montecito exist at the lower end of the Montecito real estate price spectrum and the fewest number of homes for sale in Montecito are at the high end of the Montecito real estate market. 

Here is a breakdown of the number of Montecito homes for sale by price segments:

• In the $1 million to $2 million price segment there are 20 Montecito homes for sale.
• In the $2 million to $3 million price range there are 45 homes for sale in Montecito.
• In the $3 million to $4 million price catagory there are 31 Montecito homes for sale.
• In the $4 million to $5 million price range there are 22 homes for sale in Montecito.
• In the $5 million to $6 million price segment there are 8 Montecito homes for sale.
• In the $6 million to $7 million price catagory there are 16 homes for sale in Montecito.
• In the $7 million to $8 million price segment there are 6 Montecito homes for sale.
• In the $8 million to $9 million price range there are 5 Montecito homes for sale.
• In the $9 million to $10 million price category there are only 2 Montecito homes for sale.
• In the $10 million to $15 million price range there are only 2 homes for sale in Montecito
• In the $15 million to $20 million price category there are only 4 Montecito homes for sale
• In the $20 million to $45 million price segment, there are 5 homes for sale in Montecito

This data clearly shows that once the $5 million price segment is reached, the level of inventory of Montecito homes for sale drops considerably.  Last month, there was tremendous sales activity in the $10 million Montecito real estate market.  Last month, high end Montecito buyers stepped up.   See the Montecito Real Estate Statistics for April for details.     

There is currently a good selection in every price range, and some of these sellers are very motivated as well.  For more information, contact Wendy Gragg at 805.453.3371.  To view up to the minute inventory of Montecito homes for sale, visit www.DistinctiveRealEstateOnline.com