September Appreciation Rates

I have just completed the appreciation rates for the South Santa Barbara County. This is a comparison of the median prices for homes and condos in the south county compared to the median price last year. Overall the south county saw a 6% increase in median prices in September of 2007 from September 2006. Santa Barbara was down 3% to $905,000 and Goleta was up 4% to $861,000. Montecito was up a whopping 31%. In Sept. 2006 the median price in Montecito was 2,247,500 and in Sept. 2007 it climbed to 2,950,000. Carpinteria did not see any change. It's median price stayed at $650,000. Hope Ranch only had 4 sales in Sept. 07 and saw a 169% increase in it's median price. Summerland saw a huge increase as well, but there was only 1 sale in Sept 07. It's increase was 142%. The entire South County had 110 sales in 2007 and 129 in 2006. It would appear that Santa Barbara is still a very desirable place to invest your real estate dollar. See You In Escrow!