From Carpinteria to Goleta our housing market has been a Seller’s Market, with less than three months supply, for the past ten months. The market is still strong as prices, inventory and rates rise. The multiple offers have slowed a bit allowing a less frantic pace for buyers competing for homes.
We are trending to a Balanced Market with a bit more inventory. The steady sales activity continues although rates have risen to just shy of 5% from record lows. Prices are steadily rising over last year. Looking back over the past today’s prices look more like the market between 2003 & 2004 with a median price of around $800,000. That does not mean that I can’t find you a home in the $600k range because there are some available.
This is still the best time to buy or sell because homes are more affordable today than in past years. When you want to discuss all your options, call me, I am happy to explore with you.