2016 – Nothin' But The Facts!

With the end of the year having come to a close, statistics experts have tallied some interesting facts and figures (see below). 

Whether you are asking, “Is now the time to buy?”, or “What is my house worth?”, or just curious about the market in general,  it is always worth taking a look and asking the questions.

Though history is not always an indication of future performance, there is much to be learned from where we’ve been.  With change in the air, it is important to think about how the economic current climate will affect our housing market in paradise.   The Santa Barbara Real Estate Market has historically shown to be very stable, even when markets in other areas are showing signs of change. Together, let’s talk about what this all means to YOU!  Remember….INFORMATION IS POWER!  

2016 YEAR END SUMMARY – According to the Santa Barbara Multiple Listing Service …

00-2016-mls-activity

➤ Interesting! Check out the M.O. I – Months of Inventory, (how long it would take to sell the current active listings) It is an interesting number to watch! Traditionally, 4.0 is a standard indication of a steady, normal market. Anything over 6.0 tends to lean in favor of buyers,  while under 3.0 tends to indicate a seller’s market. Like Goldilocks says,  right now the market seems “just right”


COMPARE AND CONTRAST – Looking at this year-end information, let’s compare to 2015 …

00-sales-median-price-2015-2016

➤Interesting! Sales for Montecito for 2015 & 2016 were the exactly the same!  Santa Barbara sales increased! Overall, median prices were up for the 5th year in a row! (see last chart below) 


PRICE POINTS FOR ACTIVE LISTINGS, at the end of 2016 …

00-of-active-listings-by-area

➤Interesting! The majority of inventory was between $1M and $4M (with an increase in the $2M to $4M price point)


THAT WAS THEN, THIS IS NOW! – Taking a look in the rear view mirror, here is the picture dating back to 2001 …

00-sold-listings-2001-2016

00-median-price-sold-2001-2016

THANKS FOR TAKING THE TIME TO READ AND STUDY.

IF YOU HAVE ANY QUESTIONS…YOU KNOW WHO TO CALL, OR   Click to send me an email! 

 

 

 

 

 

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