198 Homes sold in southern Santa Barbara during the month of June up from 161 homes sold in June of 2020.
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June Stats Are In…
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Santa Barbara Real Estate Since the beginning of 2020 the nationwide median home list price is up 27% - adding 9.1 Trillion to the total value of the US Housing Market.
Santa Barbara Real Estate In May 2024, California's housing market faced significant challenges due to the highest mortgage rates since late 2023. These elevated rates significantly dampened home sales on both a monthly and annual basis. Despite this, the statewide median home price exceeded $900,000 for the second consecutive month, setting yet another record high, as reported by the California Association of REALTORS®. C.A.R. President Melanie Barker noted, “California home sales stalled in May as mortgage rates reached the highest level in five months and may have contributed to the slowdown in market activity.” However, she also pointed out that recent moderation in interest rates and improvements in housing inventory could present opportunities for motivated buyers to reenter the market before the peak homebuying season. Click Continue Reading below for more information,
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3112 State Street, Santa Barbara, California 93105
Mark Lomas BRE 00898298
Kirsten Wolfe BRE 01309570