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.