Friday, February 15, 2008

Santa Barbara, Goleta, Montecito, & Carpinteria January 2008

The real estate markets of Southern Santa Barbara County got off to a slower start this year than last, with one exception.

Goleta actually had more sales than last years 25 and was one short of the 32 sales in January 2006. This is good news in that the lower end of the market is the one that appears to have been hit hardest in the last few years. Maybe this is the beginning of a comeback in that market.

Carpinteria and Summerland came very close to matching the January number for the last couple of years with 10 sales. The previous years had 11 and 12 respectively. As is the case in Goleta, this could be good news for the lower end markets in our area.

Santa Barbara and Montecito had the biggest declines of the areas in January. Santa Barbara had 41 properties close when last year there were 55 and 74 the year before. Montecito had 10 closed sales this year with 20 last year and 21 the year before.

I will be interested to see what February's closings show for this year. We have been experiencing a fair number of openings, but nothing really consistent yet. The numbers won't lie.

See You In Escrow!

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