March in Santa Barbara real estate
Our spring market is now under way in Santa Barbara real estate. In recent years, Santa Barbara has had a very active spring-time market. In looking at the numbers on this past month’s chart… New listings have been hovering in the low 50’s, meaning there aren’t too many homes out there to sell. We are still seeing a very active market in the below $1 million properties with many going into escrow with multiple offers.
Speaking of multiple offers, we took special note of them in the first week of March (1/30 – 2/5). Out of the sales in our company – over 50% had multiple offers! Even more jaw-dropping 3 properties over $5 million had multiple offers – we don’t see that happening very often in the high-end.
The market in 2017 is still going very strong! Buyers are starting to get serious about looking for a home before the predicted rate increases. And with the lower inventory numbers that we are seeing, sellers have an amazing opportunity to capture some of those buyers.
Are you interested in selling or buying in 2017 – let us know! We love helping Santa Barbarans accomplish their home dreams.
Statistics taken from the Santa Barbara Multiple Listing Service week by week. Homes, Condos and PUDs – Carpinteria to Goleta.