Distinctive Santa Barbara Real Estate

Montecito Real Estate Statistics - October 2009

Montecito real estate statistics had an impressive showing in October 2009.   The number of homes sold in Montecito in October 2009 was up a whopping +75% over the number of homes sold in Montecito in October 2008.  The dollar volume of homes sold in Montecito in October 2009 was up an incredible +83.3% over the dollar volume of homes sold in Montecito in October 2008.  Add to these staggering year over year increases the fact that the number of homes listed for sale in Montecito is down -40.6% in October 2009 compared with the number of homes listed for sale in Montecito in October 2008.

More Montecito home sales, and less inventory of Montecito homes for sale!!!    Interest rates are at all time lows.  The Federal Tax credit for home purchases has been expanded and extended.  There are several great Montecito homes for sale.    To search homes for sale in Montecito or homes for sale in Santa Barbara, visit www.DistinctiveRealEstateOnline.com or call Wendy Gragg at  805.565.0246

The Montecito real estate market  is defined as homes located in the Montecito Union and Cold Springs School district.  Data is provided through the Santa Barbara Multiple Listing Service, Yearly Market Comparison.  

Santa Barbara Real Estate Statistics - October 2009

The Santa Barbara real estate market has positive statistics to report for October.  For the month of October 2009, the number of homes sold in Santa Barbara is up +21% year over year.  October marks the 5th month in a row where the number of homes sold has exceeded the same month last year.  The total dollar volume of homes sold in October is up +26.6% year over year.  October marks the second month in a row where the dollar volume of homes sold has exceeded the same month last year.  Another bright spot for October is the median home price is up +3%.  While its a small increase, its still an increase!  This is in contrast to all the national press that home prices are declining.

In addition to these positive Santa Barbara real estate statistics, the federal tax credit will be extended through April 30, 2010, with a 60-day extension if a binding contract is in place prior to the deadline. First-time home buyers will continue to be eligible for a tax credit of up to $8,000, while existing homeowners will be eligible for a reduced credit of up to $6,500. To qualify for the $6,500 credit, existing homeowners must have lived in their current residences for at least five years. The bill also increases the qualifying income limits from $75,000 for single tax filers and $150,000 for joint filers to $125,000 and $225,000, respectively. The purchase price of the home is capped at $800,000 in both instances.

For more information or statistical analysis on real estate in Santa Barbara, contact Wendy Gragg, Distinctive Real Estate, 805.565.0246 or visit us at www.DistinctiveRealEstateOnline.com    

 

 

Santa Barbara Real Estate - Montecito Real Estate Sales for October are Strong!!

Santa Barbara Real Estate - The Montecito real estate sales for the month of October 2009 are strong!  At just less than half way throught the month, on October 14, 2009, the number of homes sold in Montecito is just one Montecito home sale shy of the full month of October 2008!   The total dollar volume of homes sold in Montecito is also pacing well.  October 2009 dollar volume is off by just over $6 million, which in Montecito can easily be just one home sale.  To add to the good Montecito real estate news for October, new listings are down substantially over the same time period.   In October 2008, there were a total of 32 Montecito homes listed for sale.  About half way through October 2009, we have only 9 Montecito homes listed for sale.   For more statistical information, or to view homes for sale in Santa Barbara and homes for sale in Montecito go to www.DistinctiveRealEstateOnline.com or call Wendy Gragg at 805.565.0246

Santa Barbara Real Estate Statistics - Montecito Real Estate Heats Up - 2nd Qtr 09 over 3rd Qtr 09 Results

Montecito real estate statistics are showing the Montecito real estate market has rebounded on on a quarter over quarter basis.  Comparing 2nd Quarter 2009 to 3rd Quarter 2009, the data shows:

Montecito Homes sold - In 2nd Quarter, 27 homes sold in Montecito.  In 3rd Quarter, 35 homes sold in Montecito.  This is an increase of +33% more homes sold quarter over quarter.

Montecito Properties Listed for Sale - In 2nd Quarter, 89 properties were listed for sale in Montecito.  In 3rd Quarter, 80 properties were listed for sale.  This is a decrease of -11% less properties listed quarter over quarter.  

Montecito Real Estate Median Sales Price - The 2nd Quarter Median Sales Price for Montecito was  $2,255,000.  The 3rd  Quarter Median Sales Price for Montecito was $3,062,000.  This is an increase of +36% quarter over quarter.

These Montecito real estate statistics show the inventory of property for sale in Montecito is dwindling, and the price in Montecito is increasing.   For more statistical information, or to view properties for sale in Montecito and Santa Barbara, visit our website at www.DistinctiveRealEstateOnline.com

Data provided by Santa Barbara MLS Multiple Listing Servive.  Montecito is defined as properties for sale in the Montecito Union and Cold Springs School Districts.

Santa Barbara Real Estate - Luxury Real Estate Market Activity for September 2009

The Santa Barbara real estate market has had some very impressive luxury real estate sales in September.  These closed sales show that buyers are buying, and Santa Barbara buyers are buying big! 

In the month of September 2009, the Santa Barbara real estate market saw 4 luxury estates close escrow.  They are:

A Montecito beach area Estate within walking distance to the famed Four Seasons Biltmore Hotel & Coral Casino. This beautiful gated estate with large main residence, pool and 2 guest houses closed escrow at $11 million.

A Montecito Estate in the guard gated community of Ennisbrook. This stately Mediterranean with ocean and mountain views, guest house and pool sold for $9 million.

The Historic Val Verde Estate in Montecito on more than 17 acres in the heart of Montecito.  This rare Estate sold for $15.3 million

An oceanfront Hope Ranch Estate.  This magnificent gated oceanfront home on nearly 3 pristine acres sold for $12.8 milion.

Many of these sold at significant discounts to asking price, reflecting current market conditions in the luxury real estate market.  For more statisitical data please contact Wendy Gragg, Distinctive Real Estate 805.565.0246.  To view Santa Barbara real estate currently for sale, visit us at www.DistinctiveRealEstateOnline.com  

  

Santa Barbara Real Estate - Montecito Real Estate Statistics for September 2009

Santa Barbara Real Estate - The Montecito real estate market statistics for the month of September 2009 show that the Montecito real estate market turned the corner in a big way in September.    The number of sold listing of homes in  Montecito was up a whopping +25%.  The number of new listings of homes for sale in Montecito was down -15%.  The Montecito real estate market is defined as those homes that sold in the Cold Springs and Montecito Union School districts.  

These impressive real estate statistics for Montecito show that the number of homes for sale in Montecito is declining.   It also shows that buyers are buying.  That said, there are still a good supply of inventory of homes for sale in all price ranges in Montecito.  Interest rates are at historical lows, and there are some motivated sellers ready to make a deal.    

To search homes for sale in Santa Barbara and Montecito, or for more statistical information, contact Wendy Gragg, 805.565.0246 or visit us at www.DistinctiveRealEstateOnline.com to search homes for sale in Santa Barbara and Montecito.  

Montecito Real Estate - Luxury Home Sales Continue

August was a great month for the luxury home market in Montecito, and the momentum is still stong!  just days ago, another Montecito home sold for $11 million.   This Montecito home is a short stroll to Butterly Beach and the Four Seasons Biltmore Hotel.   This purchase consisted of  a beautiful main residence, a pool and two guest houses.    This home was originally listed nearly one year ago for $19.9 million.   Clearly, buyers are negotiating great deals right now.    This is no anomoly.  The Montecito luxury sales in August consisted of a sale at $18.5 million, a sale at $15.3 million, a sale at $9.5 million, asale at $8.2 million a sale at $7.1 million and a fixer upper sale at $6.7 million.  

There are also some very impressive luxury homes in escrow, and ready to close soon.  They include an ooceanfront home in Hope Ranch listed at $15.7 million, a fixer upper in Montecito listed at $9.4 million, ha home in Hope Ranch listed at $5.5 million, yet another Hope Ranch home listed at $5 million.

Buyers are taking advantage of strong negotiations, and great deals right now.   There is a good supply of homes for sale in Santa Barbara, there is strong motivation among some sellers, and interest rates are at historical lows.   For more information on homes for sale in Santa Barbara, visit www.DistinctiveRealEstateOnline.com or call Wendy Gragg at 805.565.0246 

Santa Barbara Real Estate - Actions Speak Louder Than Words

There is much discussion and debate about whether the housing market is recovering.   The best way to approach the back and forth on this real estate issue is to look at the actions or closed and pending sales, as opposed to just the words of speculation and predicition.

The numbers speak for themselves and demonstrate home buyers in Santa Barbara are taking action.   In the month of August, Santa Barbara had some very impressive home sale.   A five acre, newly constructed Estate with spectacular ocean and mountain views sold for $18.5 million.   A historic Estate on 17 acres in heart of Montecito sold for $15.3 million.  An 11,000 square foot Estate on 5 acres in Montecito sold for $9.5 million.  A Mediterranean home and guest house sold for $8.2 million, and a newly renovated Mediterranean sold for $7.1 million.  

There are also many impressive Santa Barbara homes in the escrow pipeline and set to close soon.  These include:  an oceanfront Estate in Hope Ranch is listed at $15.7 million, a Montecito Estate in a gated community is listed at $9.8 million, and a  historic Estate beging sold as a fixer, as it has been recently used as an educational institution that is listed at $9.4 million.  In addition to this, there are currently 9 other homes ready to close in the $3 million to $4 million range, and another 14 homes ready to close in the $2 million to $3 million range.

Forbes Magazine has recently listed Santa Barbara Real Estate as #9 in their list of "Best Cities for A Housing Recovery"

Hovnanian Home Builders, the 6th largest home builder is buying land, starting construction on new home developments again and raising home prices.   Hovnanian CEO, Ara Hovnanian reports a pick up in new home orders.  He stated that the pace of sales this quarter were approaching levels not seen since 2006. 

The recovery is here!  There are is an ample supply of homes for sale in every price range in Santa Barbara.  There are several motivated sellers willing to make a deal.   Mortgage interest rates are at historical lows.   For more information on homes for sale in Santa Barbara, visit www.DistinctiveRealEstateOnline.com or call Wendy Gragg at 805.565.0246  

Santa Barbara Real Estate - Out of the Woods and Into the Race Way

The Santa Barbara real estate market is reacting to the optimism that the recession is over.  A luxury home in Santa Barbara just closed escrow at $18.5 million. Santa Barbara also enjoyed another notable sale of a home in Montecito that just sold for $7.1 milllion.  Buyers are taking action...the money is talking!   In addition to these notable Santa Barbara sales over the last few days, Santa Barbara is enjoying some impressive multi million dollar homes that have just gone into escrow over the last few days.  These luxury homes in escrow lead the way toward more sales like the luxury homes that just sold.    The listing price of the following Santa Barbara homes that are now in escrow are:   $16 million luxury home in Montecito, $15.75 million oceanfront home in Hope Ranch, $12.5 million luxury home in Montecito, $9.85 million luxury home in Montecito , $5.2 million luxury home in Montecito and a $3.795 million luxury home in Montecito which received multiple offers.     This level of activity shows that now is the time to act!   Interest rates are great, selection of homes for sale is good, and deals are being made.   To search for homes for sale go to www.DistinctiveRealEstateOnline.com  For more information, contact Wendy Gragg at 805.565.0246

Santa Barbara Real Estate - Continues the Climb

In a blog post just days ago, it was reported that six luxury homes for sale in Montecito had just gone into escrow.  The least expensive among the six was listed at $5.2 million, the most expensive was listed at $25 million and is set to close escrow very soon.   Today, we added yet another luxury home for sale that just went into escrow.   This beautiful, oceanfront home in Hope Ranch is listed at $15.750 million.  There are now seven luxury homes for sale in Santa Barbara that have entered escrow.  Most of this activity has taken place in just the last few days.  The total list price of these homes in Santa Barbara is an impressive $91.7 million.   The add up as follows:   $5.2 million, $7.5 million, $9.750 million, $12.5 million, $15.750 million, $16 million and $25 million.    Buyers are definately taking action.    If you are in the market to buy a home in Santa Barbara, now is a great time to buy.  There is a great supply of inventory, some motivated sellers, and a good opportunity to strike a deal.   To search for homes for sale in Santa Barbara, homes for sale in Montecito and  homes for sale in Hope Ranch, go to www.DistinctiveRealEstateOnline.com