Thursday, September 6, 2007

Santa Barbara Real Estate Appreciation Rates

I was asked the other day about appreciation rates for each of the communities in the South County of Santa Barbara. I pulled out some data and began to figure them. I could only find good data through the end of June 07. Here is how they broke down comparing all of 06 to what I had for 07. For the entire South County prices had appreciated 9.48%. In the city of Santa Barbara prices had declined by 1.96%. Goleta showed a 3.53% decline while Carpinteria was up 1.15% and Montecito was up a whopping 12.50%. Needless to say after looking at this information most if not all the appreciation is in the Montecito area. Real Estate sales have been slow in all the areas mentioned but Montecito and it certainly affects the overall numbers significantly. One other thing that affects the numbers is that the data I had to work with does not separate out property types and so commercial property sales are also included in these numbers. The commercial agents I've spoken to are saying that property sales in that market have been busy in 07, but they were as well in 06.

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