Unlocking July’s Real Estate Insights: Your Santa Barbara Market Recap

Your exclusive Santa Barbara housing market update!

In July, the Santa Barbara housing market saw some interesting changes. There were 26% more new listings and 32% more active listings compared to last year, giving buyers more options. However, the number of homes sold went down by 8%, and pending sales dropped by 11%.

Despite challenges like inflation and changes in the job market, home prices stayed strong. The median sale price was $1,905,000, but this reflects an 11% adjustment due to higher mortgage interest rates compared to last year. Homes sold a bit faster than last year, taking about 15 days.

Exciting news: interest rates have recently gone down, which is great for both buyers and sellers. This change is expected to boost the market in August.

For personalized insights or any specific questions about the market, feel free to reach out to me directly. I am here to provide you with the detailed guidance you need to navigate your real estate journey.

As your neighborhood real estate expert, I'm on hand to help you navigate through these exciting times. Got a question? Need some advice? I'm just a call and/or a message away. I am looking forward to learning more about how I can support your real estate goals on a timetable that’s convenient for you and your family.