Just a quick real estate update about the Santa Ynez Valley-and Santa Barbara County. Here's where we stand.
We had a relatively slow first half of the year. Sales were steady, but not moving swiftly. Much of this is mainly due to the lack of inventory. We are not the only area that is suffering from this affliction. Many other counties in California are suffering as well. While this would seem to speed up the market, or move it and likewise prices, along faster, a general hesitancy with buyers has prevented buyers from jumping on the few homes remaining. This hesitancy has kept some homes on the market for far longer than I'm sure their owners (and agents) intended, as well as prices from going crazy. However, now we are seeing a few more properties come on, which is good news for buyers and sellers alike. Below is a graph of Santa Barbara County's sales, along with several other counties in the state and how we compare in median home prices.
We had a relatively slow first half of the year. Sales were steady, but not moving swiftly. Much of this is mainly due to the lack of inventory. We are not the only area that is suffering from this affliction. Many other counties in California are suffering as well. While this would seem to speed up the market, or move it and likewise prices, along faster, a general hesitancy with buyers has prevented buyers from jumping on the few homes remaining. This hesitancy has kept some homes on the market for far longer than I'm sure their owners (and agents) intended, as well as prices from going crazy. However, now we are seeing a few more properties come on, which is good news for buyers and sellers alike. Below is a graph of Santa Barbara County's sales, along with several other counties in the state and how we compare in median home prices.
Median Home Price per County/Region
| State, Region or County | May-17 | April-17 | Sales MTM % Chg | Sales YTY % Chg |
|---|---|---|---|---|
| CA SFH | $550,200 | $537,920 | 5.4% | 2.6% |
| CA Condo/Townhomes | $440,890 | $436,390 | 13.7% | 4.5% |
| Los Angeles Metropolitan Area | $488,720 | $482,420 | 21.4% | 6.9% |
| Inland Empire | $340,710 | $338,010 | 18.4% | 9.0% |
| S.F. Bay Area | $899,730 | $895,490 | 21.8% | 4.9% |
| Southern California | May-17 | April-17 | Sales MTM % Chg | Sales YTY % Chg |
| Los Angeles | $492,040 | $480,230 | 24.9% | 7.3% |
| Orange | $795,000 | $775,000 | 22.6% | 5.9% |
| Riverside | $375,000 | $379,000 | 18.7% | 10.3% |
| San Bernardino | $272,200 | $260,050 | 17.8% | 6.7% |
| San Diego | $605,000 | $590,000 | 16.1% | 4.1% |
| Ventura | $657,890 | $659,310 | 12.8% | -6.3% |
| Central Coast | May-17 | April-17 | Sales MTM % Chg | Sales YTY % Chg |
| Monterey | $617,000 | $569,000 | 27.3% | 3.6% |
| San Luis Obispo | $569,000 | $572,500 | 22.0% | 11.7% |
| Santa Barbara | $725,000 | $745,000 | 16.8% | 13.9% |
| Santa Cruz | $875,200 | $815,00 | -2.2% | -19.2% |
Comments
Post a Comment