Weekly Market Update 02/06/2017- 02/26/2017

Posted February 28, 2017

Santa Barbara's Real Estate Market 

Santa Barbara's lower end market is moving much faster than the higher end. Many properties went pending and closed in the $0- $1 mill range. The $1 mill - $2 mill range is low in inventory so that's why you don't see many sales there in that range. Majority of the new listings are in the high $2 mill range or more. That market is not moving right now. I've seen many first time home buyers looking and people that are looking for a second home or investment property. Those properties are usually under $1 mill. Interest rates are around 4% right now, which is still relatively low. If you have any questions, please call me! I would love to help you. 

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