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W W W. S A N TA B A R B A R A S E N T I N E L .CO M
REAL ESTATE SNAPSHOT by Kelly Mahan Herrick
Kelly is a licensed realtor with the Calcagno & Hamilton team and Berkshire Hathaway. She can be reached at Kelly@homesinsantabar bara.com or at (805) 565-4000.
First Quarter Recap
I
n South Santa Barbara County (Carpinteria to Goleta), the number of properties sold in the first quarter of the year is up substantially over last year. We acknowledge these increases cautiously, as the first quarter numbers
in 2018 were reflective of a softened market following the 1/9 debris flow in Montecito; still, I’m optimistic that the market as a whole is normalizing. In the single family home segment, we saw an 8.5% increase YTD from 2018
A look at sold properties (only homes, estates, and PUDs) in 2019 versus 2018 in the first quarter of the year. This includes only sales listed in the Santa Barbara County MLS.
(267 properties versus 246); compared to 2017’s numbers, we are down just 1% (267 versus 269 in January-March, 2017).* Condo sales were up 53% over last year, with 144 total sales compared to 94 in 2018. *Compared to 2017’s first quarter sales, we are up 33% (144 versus 108), which I feel is a better comparison to evaluate the temperature of the condo market. *These numbers include off-market sales; the graphic below does not include off-market sales.
SALES & SALES PRICES At the end of March, our median sales price for single-family homes, estates, and PUDs, was $1,290,000, which is down 8% from last year ($1,394,000). Last year’s median sales price YTD was the highest we’d seen ever, and in my opinion, artificially high; I attribute this in part to the more concentrated amount of higher end sales in Hope Ranch immediately following the 1/9 disaster. (We had 15 sales there January ...continued p.14
A look at median sales prices of homes, estates, and PUDs year-to-date from 2002 to 2019
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