We are in the height of the summer selling season for our area, from Carpinteria to Goleta, with families relocating for the new school year. This is typical for the years past and prices are strong and rates are moving down.
In our local Santa Barbara Association of Realtors for May, there were 6 homes a day sold and 8 listed. That is the same as last month but our market velocity slipped from a seller’s market barely into a balanced market.
Two areas of town remain in a seller’s market though: they are Goleta South, by the beach, and Santa Barbara West, by the beach. I wonder if the beach has anything to do with that fact. Perhaps it is in preparation for the hot summer months which have eluded us so far this June.
All in all, this is a great market to buy or sell in. We remain steady with prices. Interest rates on loans are softening and lowering, so for us here in this area, boring is beautiful.