Market Update

The first half of 2019 statistics show the market is still strong . Overall, prices are up and sales are up too. The increase in first time buyers able to buy with low interest rates is fueling the condo market, which was up substantially over June of last year. Inventory is just over a 5 month supply which is considered to be a "balanced" market, with equal opportunity for sellers and buyers.

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Market Statistics - Year End 2018

The market in 2018 was relatively stable with small increases in prices and slight decreases in number of sales. The prediction for 2019: stability – in both prices and number of sales. Mortgage interest rates are still historically low and the outlook for Santa Barbara looks good for 2019. Existing-home sales rebounded strongly in February, experiencing the largest month-over-month gain since December 2015, according to the National Association of Realtors®. Locally, it is considered a "balanced" market this year where it is not just a buyers market or sellers market, but equal  opportunities for both. The Fed announcement that there won't be any interest rate increases this year is great for the real estate market. Prices are expected to stay fairly stable, and listings that are priced well are selling quickly, some with multiple offers.  It's a good time to buy and a good time to sell!

Mid-Year Market Statistics

At mid-year the market is still climbing. Prices are up slightly, but overall number of sales are down due to continued lack of inventory. Condominiums have seen the biggest increase in value, up 18% over last year.

Spring 2018 Market Statistics

The 2018 market has started off as a robust year with average sales price up YTD over first quarter 2017. Condos have seen a 20% increase and single family home prices have seen an  8% increase. Number of sales are down slightly.

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Tax Reform Changes for Homeowners

Even with the tax law changes, California’s median home price is projected to increase 3.2 percent in 2018. Overall, home sales in California are expected to grow in 2018. 

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Meet Nick, the last photographer you'll ever need.

Total real estate photography services including videos, aerials & floor plans. Visit AtHomeSBPhotography.com for more info!

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Nick found his passion in photography over 15 years ago. He has an eye for hidden beauty and detail, and is a master at finding "just the right angle" that everyone in the real estate world is so needy of in their marketing materials. Real Estate Photography doesn't sound glamorous. However, when you use Nick Ouellette as your photographer, you will feel like you are getting just as much detail and personal attention as you would be getting from a photographer at an intimate wedding (oh yeah, that's because he is an incredibly talented wedding and family portrait photographer as well!). He has had quite the successful career in Los Angeles and has recently moved to Santa Barbara to hone in on his growing business. He is a FAA drone certified pilot and provides thorough floor plans as well. He is a one-stop-shop for all your marketing materials. Check out his website here for pricing and packages. Nick also offers wedding & family photography: www.nickpouellette.com

 
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