April in Santa Barbara real estate
April was another busy spring month in the Santa Barbara real estate market. Sales remained steady through the month with a slight dip the third week. In the first week of April, 9 properties between $2-4 million went into escrow – that’s a very large amount of higher end properties. Although the number of pending listings took a slight dip from 4/17-4/23 this could have to do with it being the week after Easter and many school’s Spring Break week, half of those properties that did go into escrow were over $1 million.
New listings, pending sales, and closed sales numbers all seem to have increased from March’s numbers. More new listings means more homes to sell and therefore an increase in pending sales – yay!
We also track sales weekly through our company, Village Properties. In the last week of April, 50% of the sales in our company had multiple offers. This is a sign of a very active real estate market.
So, let’s take advantage of this market! We’re still feeling a lack of inventory in the Santa Barbara housing market, this means it’s a great time to sell your home, there’s lots of buyers out there looking for their special place in Santa Barbara. As a buyer, interest rates are still at historic lows, that is pretty exciting too!
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.