Your Key to the Santa Barbara Real Estate Market: March
Spring selling season is kicking into gear, and the statistics show we may be heading for a super bloom market wise! Being as busy as we are putting keys in hands and getting someexciting new listingsready, it's still important to stay tuned in to the larger trends.
Inventory and prices continue a slow rise, with total active listings, new listings and median list price all up so far for 2019. Interestingly, the number of properties that went into escrow is down 12.7% from that same period last year. Keep in mind, a number of buyers who would've bought November-January last year didn't with the Thomas Fire then debris flow, which could explain the higher number of sales in February. Late 2017/early 2018 will always be a strange measuring stick, but overall signs point to a stable market.
This month's edition of the California Economic Forecastseems to agree. We do see the market softening a bit toward the end of the year, but it's still a great time to buy or sell on the Central Coast.
We are always happy to chat about the market, or to help problem-solve even the trickiest of real estate situations. Keep in mind, we eat, breathe, sweat real estate, and our hashtag of choice is still #lovewhatyoudo... So let us know how we can help!
Ruth Ann & the Team
South Santa Barbara County
Statistics through February 2019