Santa Barbara Real Estate Statistical Update – April 4, 2014

Santa Barbara Real Estate Statistical Update – April 4, 2014  The Santa Barbara real estate market is abuzz with buyers scrambling to see Santa Barbara homes for sale.  Santa Barbara buyers  are finding few Santa Barbara homes listed for sale and very few new listings of Santa Barbara homes.   This however is  a tale of two cities. While the Santa Barbara real estate market up to $5 million is vibrant,   the Santa Barbara luxury real estate market above $10 million is not so busy.   The Santa Barbara luxury real estate market above $10 million has been lackluster, therefore there is an ample supply of fantastic Santa Barbara luxury estates for sale  which creates a very interesting opportunity for buyers of Santa Barbara luxury real estate. And here are the Santa Barbara real estate statistics.. The number of Santa Barbara homes sold is off 22.8% over this time last year.  The number of new Santa Barbara homes listed for sale is off 11.1%  The median sales price of Santa Barbara homes sold is $855,000.  The Santa Barbara median is up 20.4% compared to this time last year when the Santa Barbara median was $710,000. The Montecito real estate statistics show the number of Montecito homes sold is off 25.5% while the number of Montecito homes listed for sale is off 13.8%.  Interestingly, and following a trend this year, the Montecito median sales price is off 23.7%.  The Montecito median sales price currently stands at $2,060,000.  Last year at this time, the Montecito median sales price was $2,700,000.  This is largely a result of the mix of Montecito homes sold being at the lower end of the Montecito pricing scale versus this time last year.   Herein creating a really good buying opportunity in the  Montecito luxury real estate market. To view homes for sale in Santa Barbara and homes for sale in Montecito, click  SEARCH SANTA BARBARA PROPERTIES    For personal attention call or text Wendy Gragg at 805.453.3371 or email WGragg@DistinciveRealEstateOnline.com