Home sales in Santa Barbara County for September are on the rise!

We had 162 closings in the month of September. (This is all closings, residential, commercial and land).  This number is the highest for the month of September for the past 6 years. In the residential market, we have between 6 and 7 months of inventory market-wide: 9-12 months of inventory over $2 million, (strong buyers’ market), and 3-4 months of inventory under $1 million, (balanced to sellers’ market).  The median price has been flat for the past 3 years at around $850,000; even though prices have continued to slide down over the past 3 years, a steady increase in the number of sales over $1 million has kept the median steady.  We are now seeing around 35% of our closings over $1 million, up from 18-20%.
If you have any questions about these statistics or would like to speak to Kelly directly, give her a call at 805-895-4406.