Are you wondering what our real estate market did last year in 2018 compared to 2017? From Carpinteria to Goleta we ended up loosing the ground we had gained. In 2017, our overall market went up by 7%; last year it went down 7%.
That being said, the market is still strong, rates are comparatively low and there is some inventory. There are less than 500 residential units for sale in the area of homes, condos and manufactured housing. That is not a lot, so I don’t expect prices to drop suddenly.
Residential units that have sold in the prior month sold on average at 96% of list price, indicating that the market still has high demand. December showed three listings a day and three sales for the month, not bad for the typically slowest month of the year due to the holidays.
Remember, homes are sold every day, regardless of the market. When priced right and in good condition, homes sell quickly, usually within 90 days of listing in our area.