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SUPPLY & DEMAND We feel like we’re back in college applying the most basic principle of economics – Supply & Demand. The demand for real estate in the Santa Barbara area is very high today but with a very limited supply. Prices are being driven up, sellers are experiencing multiple…
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The real estate market was impacted dramatically by the effects of the Coronavirus, but it has bounced back stronger than expected. Spring typically brings the highest sales volume of the year. This year was much different. Sales for April & May totaled only 179 an approximate 50% drop compared to…
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Hi! It has been some time since we last wrote and quite the time it has been. Wow! It has been unusual times, to say the least. We took a break from our monthly newsletters for two reasons – first things were hectic and relatively uncertain and secondly, it seemed…
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At the end of every year, this is our favorite report to compile – “What happened in 2019.” At the beginning of last year, speculation abounded regarding the direction of the market. Most anticipated that sales volume would decrease and that it might turn to a balanced or even a buyers…
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Summer is wrapping up and surprisingly, through all the vacations, we are still seeing a lot of activity in the real estate market. In fact, the total number of homes & condos sold 2015 just surpassed 2013 total. With pending sales also up in July, we could end the year…
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The market is maintaining the same upward trajectory as last month. The total number of homes sold continues to out pace 2014 by 20.8%. Notable is that total number of homes & condos sold is nearly the same as 2013. This is significant as the median price for homes and condos has increased by 28% &…
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The market has momentum, almost half way through the year and we continue to see sales increase and upward pressure on price in almost all price points. Condos have experienced a huge 41.9% increase in sales year to date and single family homes have increased by 12.7%. The condo market is led by a couple…
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ACTIVE, this market has a lot of activity right now. I am experiencing and hearing about many multiple offer situations. Across the board in all price points, people are buying homes right now. I believe we are seeing an uptick in activity for two reasons. First, I hear a lot…
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In my mind, the market correction in 2008 does not seem that long ago and the recovery very recent. With that in mind, I anticipate that sales should be on a strong upwards projection. What surprised me in 2014 was that though we saw a continued rise in prices, we…
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Over the last couple months, we have seen a few interesting occurrences in the real estate market. The first one being in November the Fed decided to end QE3, the program to buy treasury and mortgage-bonds. Since the housing bubble burst the fed has introduced three rounds of quantitive easing (QE). Since the beginning of…
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