Happy Easter! As we wrap up a very active first quarter of 2017, we wanted to share with you a quick snapshot of what’s happening in our Santa Barbara real estate market. Overall we ended March with about 8% more homes sold that last year and with an average sales price up 13% (when not including Hope Ranch and Montecito).
The Goleta and Carpinteria/Summerland markets, historically the more affordable areas of our market, have seen more significant growth in the average sales price, whereas Montecito and Hope Ranch are down. There was also about 6% more active listings from Carpinteria to Goleta, and the inventory is the highest is has been since 2012.
Many of these listings are in Carpinteria/Summerland and Goleta, meaning there is much more to choose from in those areas currently. In contrast, the new inventory East of State Street is down over 30% from last year, making it a great time to list sand sell home in that area.