Santa Barbara January 2010 Home Sales Statistics

Santa Barbara January 2010 Home Sales Statistics

Well, the results are in for the real estate market in Santa Barbara for the month of January 2010 and the stats are pretty interesting, if your into this kind of stuff.  Lets compare January 2009 to Jan 2010 and see how it looks.  The first number that jumps out at me is 59, that is how many homes sold in Santa Barbara last month (Jan). In Jan 2009 there were only 44 home sales.  That is a substantial increase. However, if you are in the market to purchase a home right now you will like the next number.....$760,000 because it is way lower than the $906,000 median sales price of Santa Barbara homes that sold in Jan of 09. The $760,000 number reflects the median sales price of homes sold in Jan of 2010.  A good sized drop by any standard.  Here is a stunner.  Homes that sold in January had average final sales prices that were only 75% of the original listing price. So,  if you are looking at the big picture here, you might see some good opportunities to buy in this market.  Prices are definitely down and if you need financing, the guidlines are stricter, but rates are low.  Were talking 5% range low! I see it this way; if you are waiting to find the absolute bottom of the market, price wise and ignoring the bottom of the market, rate wise, you could possibly buy the home slightly cheaper and pay way more in interest over the life of the loan.  I think it would be wise to look for those deals now, they are out there.  But the stats are showing , they aren't found in the asking price.  They are only found after you make an offer and negotiate for that deal that you have been waiting for.

If I can be of assistance in your Santa Barbara real estate search, or otherwise provide information about the market, contact me at (808)757-1867 or RichBosselmann@gmail.com