Thursday, July 17, 2008

Santa Barbara Property Sales In June

Can you say plateau! In April there were 135 sales, in May there were 132 sales and in June there were 127 sales in the South County of Santa Barbara. In looking at the chart that is a pretty flat line.

If that was all you were reviewing you wouldn't really be seeing the full story. The sub markets are almost all showing some changes. Carpinteria and Summerland are probably the exception in that they are flat as well.

The Santa Barbara market climbed from 53 transactions in May to 67 transactions in June. That is the highest number of sales since August of 2007 when there were 86.

The Goleta market took an about face. It had hit a high of 47 in May and then dropped to 33 in June. When you look at the Goleta chart it does appear to be more of an EKG than anything else. Up one month down the next. I hope that means that the patient is alive and doing well.

Montecito appears to be taking a bit of a nose dive. There were 32 transactions in April, and 23 in May. June's number was 16 which is the lowest number since January. Interestingly enough though is the correlation to the last couple of years. Montecito has flattened out in 06 and 07 in the last half of the year and it would appear to be doing the same this year.

So the cliche that real estate is local certainly applies to the numbers for June in the Santa Barbara area. Looking at only the overall numbers won't really give a very clear picture of what is happening. I'll be posting the map for all the sales shortly.

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