Thursday, March 31, 2011
Tuesday, March 29, 2011
Weekly Real Estate Snapshot 3/21 - 3/27
New Listings: 45
Price Improvements: 41
Pending: 35 breaks down to:
under $1 million: 24
$1-2 million: 10
$2-4 million: 1
$4-8 million: 0
$8 million+: 0
Closed: 20 breaks down to:
under $1 million: 16
$1-2 million: 2
$2-4 million: 1
$4-8 million: 1
$8 million+: 0
Off Market (expired, canceled, withdrawn): 16
Back On Market: 10
Price Improvements: 41
Pending: 35 breaks down to:
under $1 million: 24
$1-2 million: 10
$2-4 million: 1
$4-8 million: 0
$8 million+: 0
Closed: 20 breaks down to:
under $1 million: 16
$1-2 million: 2
$2-4 million: 1
$4-8 million: 1
$8 million+: 0
Off Market (expired, canceled, withdrawn): 16
Back On Market: 10
Sunday, March 27, 2011
Village Insight Spring Issue
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Our Third Edition & Going Strong!  Village Properties is proud to announce its third edition of the Village Insight! A gorgeous completely digital magazine, accessible online with just one click. homes. style. life. Village Insight has it all. Local stories, people and places. Real estate market news and insights. And lest we forget, a beautiful presentation of hundreds of Village's current listings. Grab the laptop, kick back, and browse through the full double-page layouts and photography. Village Insight is beautiful, fast, and free.  Village Insight is for visitors and locals alike. With original articles and artwork, we're sure everyone will discover something new about Montecito, Santa Barbara and Santa Ynez in each issue. Please click here to view our Spring issue. We hope you enjoy it and share it with all your friends too. It's free! | What's New? Well... everything really. Village Insight showcases more than beautiful homes and gorgeous estates. Each issue provides its readers with stories about local treasures, events, people and businesses. In this issue, VI talks to Alida Aldrich on Landscaping; Dana Istre chatters about what Sellers can do to help their Agents; and showcases two upcoming charities that can use our support. It's not all just human interest though. VI also weighs in with local real estate news and sales figures in our Real Insight section. Listings, Listings, Listings And lest we forget, VI showcases hundreds of gorgeous listings, from Ojai up through Los Olivos. Everything from sensible family homes in perfect family neighborhoods, all the way to massive ranches and estates with all the amenities and views you could ever dream for. What Are You Waiting For? Why just read about it here though? Village Insight is just a click away. Please follow the link below to start flipping through Village Insight right away.  |
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Friday, March 25, 2011
Wednesday, March 23, 2011
Months of Inventory
Here are the current months of inventory for the Santa Barbara South Coast, (Carpinteria to Goleta), homes only, (not condos).
"Months of Inventory", or "Market Velocity", is the number of months it would take to sell all the current active listings, at the current pace of sales, assuming no new listings are added. To calculate this, we use the number of properties that entered escrow in the immediate past 30 days. This is a much better indication of buyer confidence today vs. closed sales which reflects buyer activity 2-4 months ago.
As a thumb-nail, 0-3 months indicates a sellers' market; 3-6 months is a "balanced market"; 6-9 months is a buyers' market and 9+ months is indicative of a weak market.
Currently there are 479 homes for sale on the South Coast; 84 homes went pending in the immediate past 30 days, giving a market-wide rate of 5.7 months of inventory.
Breakdown by neighborhoods is as follows:
Carpinteria & Summerland: 7 mos of inv.
Montecito: 9.8 mos. of inv.
Santa Barbara: 4 mos. of inv.
Goleta: 4.3 mos. of inv.
Hope Ranch: 11 mos. of inv.
By price range:
$0-1 million: 3.1 mos. of inv.
$1-2 million: 6.8 mos. of inv.
$2-3 million: 8.1 mos. of inv.
$3-4 million: 16 mos. of inv.
$4-8 million: 7.7 mos. of inv.
$8+ million: 20+ mos. of inv.
One can see that the "hottest" segment of the market is Santa Barbara & Goleta homes under $1 million; and the softest part of our local market is Montecito $8+ million.
Thank you Jackie!
Monday, March 21, 2011
Weekly Real Estate Snapshot 3/14 - 3/20
New Listings: 51
Price Improvements: 33
Pending: 28 breaks down to:
under $1 million: 18
$1-2 million: 7
$2-4 million: 3
$4-8 million: 0
$8 million+: 0
Closed: 24 breaks down to:
under $1 million: 12
$1-2 million: 7
$2-4 million: 3
$4-8 million: 2
$8 million+: 0
Off Market (expired, canceled, withdrawn): 18
Back On Market: 8
Price Improvements: 33
Pending: 28 breaks down to:
under $1 million: 18
$1-2 million: 7
$2-4 million: 3
$4-8 million: 0
$8 million+: 0
Closed: 24 breaks down to:
under $1 million: 12
$1-2 million: 7
$2-4 million: 3
$4-8 million: 2
$8 million+: 0
Off Market (expired, canceled, withdrawn): 18
Back On Market: 8
Saturday, March 19, 2011
Win a House in Santa Barbara OR $1,000,000!!!!!
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VILLAGE PROPERTIES www.villagesite.com *|1250 Coast Village Road, California 93108|* Copyright (C) 2009 *|Village Properties|* All rights reserved. Forward this email to a friend Remove me from this list |
Thursday, March 17, 2011
March Santa Barbara Green Team Newsletter
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Tuesday, March 15, 2011
Green Drinks Tonight at SoHo! Earth Day Benefit!
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Monday, March 14, 2011
Weekly Real Estate Snapshot 3/7 - 3/13
Weekly Real Estate Snapshot 3/7 - 3/13
New Listings: 49
Price Improvements: 50
Pending: 26 breaks down to:
under $1 million: 18
$1-2 million: 7
$2-4 million: 1
$4-8 million: 0
$8 million+: 0
Closed: 16 breaks down to:
under $1 million: 10
$1-2 million: 4
$2-4 million: 2
$4-8 million: 0
$8 million+:
Off Market (expired, canceled, withdrawn): 21
Back On Market: 7
New Listings: 49
Price Improvements: 50
Pending: 26 breaks down to:
under $1 million: 18
$1-2 million: 7
$2-4 million: 1
$4-8 million: 0
$8 million+: 0
Closed: 16 breaks down to:
under $1 million: 10
$1-2 million: 4
$2-4 million: 2
$4-8 million: 0
$8 million+:
Off Market (expired, canceled, withdrawn): 21
Back On Market: 7
Saturday, March 12, 2011
Santa Barbara Real Estate through the end of February 2011
Each month a very generous colleague, Gary Woods compiles all the Santa Barbara Multiple Listing and Cort sales data and provides many of us in the real estate industry with a synopsis of the current market. Thank you Gary, as always your expertise and data is very appreciated!
For the Home Estate/PUD market for Santa Barbara, Montecito, Hope Ranch, Carpinteria/Summerland and Goleta for the month of February 2011 there were 49 rising from 42 the previous month. The median sales price also went up from about $820,000 in January to $845,000 in February. The average sales price also rose from $1.155 million to $1.19 million. Going up as well were the numbers of opened escrows rising from 65 in January with a median list price of $845,000 to 80 in February with the median list price dropping a little to $800,000.
For the Home Estate/PUD market for Santa Barbara, Montecito, Hope Ranch, Carpinteria/Summerland and Goleta for the month of February 2011 there were 49 rising from 42 the previous month. The median sales price also went up from about $820,000 in January to $845,000 in February. The average sales price also rose from $1.155 million to $1.19 million. Going up as well were the numbers of opened escrows rising from 65 in January with a median list price of $845,000 to 80 in February with the median list price dropping a little to $800,000.
There were about 140 new listings in the month with a median list price of about $1.15 million and an average list price of just under $2 million and the overall inventory also started to creep up with 478 active listings at the end of the month rising from 472 the previous month. The median list price on the entire inventory remained at around $1.549 million however with the average list price hovering around $3.257 million.
Looking at the year over year numbers, sales are down from 107 in ’10 to around 90 in ’11 but the median sales price went up from $775,000 last year to approximately $830,000 this year. The average sales price was down a little however going from $1.279 million last year to $1.174 million this year. The time it took to get an accepted offer remained right around 100 days for both years however while the sales price to original list price ratio rose from 77.2% in ’10 to 86% in ‘11.
For the Districts, starting out in Carpinteria/Summerland sales are down by about half falling from 14 to 8 and the median sales price declined from $835,000 to $672,500. The numbers of escrows is up however going from 7 to 10 and the median list price on those escrows is up from $599,000 last year to $725,000 this year
In Montecito, sales are down from 15 to 12 with the median sales price dropping from just over $2 million to $1.75 million. The average sales price is way down however going from $4.13 million to $2.41 million while the numbers of escrows are up from 16 to 21 with the median list price on those escrows up from $1.8 million to $2.5 million.
In Montecito, sales are down from 15 to 12 with the median sales price dropping from just over $2 million to $1.75 million. The average sales price is way down however going from $4.13 million to $2.41 million while the numbers of escrows are up from 16 to 21 with the median list price on those escrows up from $1.8 million to $2.5 million.
On the East Side of Santa Barbara sales are way down from 35 to 24 but the median sales price is up from $825,000 to $935,000. The average sales price is also up from about $950,000 last year to right around $1.1 million and the numbers of escrows are up from 31 with a median list price of $900,000 to 45 with a median list price of $995,000.
For the West Side, sales are up from 18 to 25 but the median sales price is down from $760,000 in ‘10 to $730,000 ‘11. The average sales price is up however going from about $900,000 to just over $1 million. The numbers of escrows are also up from 20 with a median list price of $749,000 to 32 with a median list price of $710,000.
Hope Ranch has experienced 3 sales this year compared to 2 last year but the median sales price fell from $3.6 million to $1.6 million while the average declined from $3.6 million to $3 million. There were 6 escrows in both years with the median list price on those escrows going from $1.8 million last year to $2 million this year.
Goleta South sales fell from 10 to 5 but the median sales price went up from $546,000 to $707,500. The average sales price also went up from $562,732 to $708,750. But, the numbers of escrows are way up going from 8 with a median list price of $729,000 to 14 with a median list price of $575,000.
Finally, Goleta North sales are up from 19 to 24 with the median sales price rising from $680,000 to $705,000. The average sales price also went up from $718,744 to $955,631. The numbers of escrows are up slightly from 24 with a median list price of $749,900 to 26 with a median list price of $699,000.
For the condo market in Santa Barbara sales remained somewhat sluggish in the second month of 2011 with 16 sales which is exactly what we had in January. The median sales price did come up a bit from $382,000 in January to $422,500 in February and the average sales price also rose, going from $439,150 in January to $572,250 in February. This substantial gain was the result of 2 sales over $1 million with one of those being over $2 million. The average days on the market, or the time that it took to get an accepted offer went down in February to 71 which was the average throughout most of 2010 dropping from 101 in January.
The numbers of escrows also came up in February to 24 with a median list price of $415,750 from 16 in January with a median list price of $385,000. But, even though the pended listings increased for the month we still remain about 17% behind the ’10 escrows with sales 18% behind last year’s numbers.
There were 34 new listings that came on the market in February with a median list price of $425,000 and an average list price of $536,110. But the overall inventory remained around 150 condos available for purchase in the area with a median list price of about $560,000 and an average list price of approximately $730,000.
Looking at the Districts, Carpinteria/Summerland has one more sale this year with 9 but the median sales price fell a bit from $367,500 to $350,000. The average sales price went up substantially however from $357,150 to $518,877 because of a $2 million sale in the area. On the other hand, the numbers of escrows are down from 10 last year with a median list price of $409,000 to 8 with a median list price of $385,000
In Montecito there were 3 sales last year and 4 sales this year but the median sales price fell from $1,075,000 in ’10 to $645,000 in ’11. The average sales price fell even further from $1,708,333 to $688,333. The numbers of escrows are also down from 4 with a median list price of $1,075,000 to 3 with a median list price of $998,000.
On the East Side of Santa Barbara condo sales are way down from 11 in ’10 to 4 in ’11 but the median sales price is up from $323,500 last year to $429,750 this year. The average sales price is also up from $415,545 to $544,875 but the escrows are down from 8 with a median list price of $435,000 to 6 with a median list price of $399,000.
For the West Side of Santa Barbara sales are also down from 9 to 4. But, unlike the East Side the median sales price is also down from $455,500 to $422,500. The average sales price is up however going from $472,062 to $602,500. The numbers of escrows are also way down dropping from 15 with a median list price of $499,000 to 7 with a median list price of $420,000.
Goleta South after two down years has come up in both numbers of units sold and median sales price. The sales are up from 4 to 10 and the median sales price is up from $347,500 to $369,000. The average sales price is also up from $346,250 to $375,428 and the numbers of escrows are doubled from last year when there were 6 with a median list price of $295,000 to 12 with a median list price of $375,950.
Goleta North on the other hand has exactly the same numbers of sales as it did last year with 5 but the median sales price fell from $459,000 to $399,000. The average sales price went up however from $415,420 to $446,000 while the numbers of escrows remained stable with 5 in each year. For ’10 the median list price on those escrows was $228,100 and in ’11 it was $425,000.
Home sales in Santa Barbara while starting off slowly about 15% down from last year should rebound because the escrows are 30% ahead. The median sales price for now should remain at around $850,000 with some upward pressure in the $500,000 $700,000 range. For the $1 to $2 million market prices remain soft and even softer above $2 million. Condos on the other hand are also starting the year slowly with 18% fewer sales but there are also 17% fewer escrows. Prices may have stabilized for condos but there could be some further price erosion.
Gary Woods
Months of Inventory
On Monday morning at our weekly Village Properties office meeting, we all gather and discuss our listings, sales, price reductions and the feel of the market. Today we had a conversation about the months of inventory in the various parts of the market. Here is a synopsis of what was discussed based on the Santa Barbara Multiple Listing Service statistics:
For the month of February, sales have been the highest in 2011 since February of 2007.
Overall, there is a 5.7 month supply of inventory. That breaks down to 4.2 months of inventory in Santa Barbara and 4.3 months in Goleta.
In the category or properties under $1,000,000 there is a 3.1 month inventory supply.
From $1-2 million the supply is 6.8 months
From $2-4 million the supply is 10 months
From $4-8 million the supply is 7.7 months
Over $8 million, the supply is about 14 months (there are 43 properties currently in this category)
Hope Ranch has an 11 month supply of inventory whereas Montecito has a 9.8 month supply.
Stay tuned for more updates...
For the month of February, sales have been the highest in 2011 since February of 2007.
Overall, there is a 5.7 month supply of inventory. That breaks down to 4.2 months of inventory in Santa Barbara and 4.3 months in Goleta.
In the category or properties under $1,000,000 there is a 3.1 month inventory supply.
From $1-2 million the supply is 6.8 months
From $2-4 million the supply is 10 months
From $4-8 million the supply is 7.7 months
Over $8 million, the supply is about 14 months (there are 43 properties currently in this category)
Hope Ranch has an 11 month supply of inventory whereas Montecito has a 9.8 month supply.
Stay tuned for more updates...
Thursday, March 10, 2011
Tuesday, March 8, 2011
Weekly Real Estate Snapshot 2/28 - 3/6
New Listings: 55
Price Improvements: 43
Pending: 28 breaks down to:
under $1 million: 17
$1-2 million: 8
$2-4 million: 0
$4-8 million: 3
$8 million+: 0
Closed: 23 breaks down to:
under $1 million: 17
$1-2 million: 2
$2-4 million: 2
$4-8 million: 2
$8 million+: 0
Off Market (expired, canceled, withdrawn): 24
Back On Market: 7
Price Improvements: 43
Pending: 28 breaks down to:
under $1 million: 17
$1-2 million: 8
$2-4 million: 0
$4-8 million: 3
$8 million+: 0
Closed: 23 breaks down to:
under $1 million: 17
$1-2 million: 2
$2-4 million: 2
$4-8 million: 2
$8 million+: 0
Off Market (expired, canceled, withdrawn): 24
Back On Market: 7
Sunday, March 6, 2011
748 Dos Hermanos Price Adjusted Again and MOTIVATED Sellers! Open Sunday 2-4pm
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| VILLAGE PROPERTIES www.villagesite.com *|1250 Coast Village Road, California 93108|* Copyright (C) 2009 *|Village Properties|* All rights reserved. Forward this email to a friend Remove me from this list |
Green Shorts Film Festival is Coming Up
Green Shorts Film Festival
Submission deadline: Friday, March 18
You've got a few weeks left to create a one- or two-minute film on the Earth Day theme -- Powered by the People -- and see it screened at the Lobero Theater on April 15! This annual video contest and film festival is organized by Traffic Solutions and CEC.
READ DETAILS >
Submission deadline: Friday, March 18
You've got a few weeks left to create a one- or two-minute film on the Earth Day theme -- Powered by the People -- and see it screened at the Lobero Theater on April 15! This annual video contest and film festival is organized by Traffic Solutions and CEC.
READ DETAILS >
Friday, March 4, 2011
Green Drinks and Loa Tree Lounge at Soho March 15th
This is where I will be...come on down! Should be a great time!
Green Drinks & LoaTree Lounge
Tuesday, March 15, 6pm-11pm
SOhO Restaurant and Music Venue
We're kicking off Earth Month with Green Drinks, the social networking hub of people interested in making a better world. Hosted by LoaTree, the March Green Drinks will benefit CEC and will reveal exciting highlights and features of Earth Day 2011. Tuesday, March 15, 6pm-11pm
SOhO Restaurant and Music Venue
RSVP ON FACEBOOK >
Wednesday, March 2, 2011
7th Annual Santa Barbara Million Dollar Home Raffle!
Dear Friends,
I am excited to announce the community partnership between the Village Teacher’s Fund, the Santa Barbara Contemporary Arts Forum and the 7th Annual Santa Barbara Million Dollar Home Raffle!
For every $150 ticket sold, the Village Teacher’s Fund will receive $50!
Just make sure to mention the Teacher’s Fund!
Every dollar received by the Teacher’s Fund will go directly to the local teachers that are in desperate need of supplies and educational tools due to budget shortages. Learn more about the Teacher's Fund at www.TeachersFund.org
Purchase your ticket today - and please make sure to mention my name and the Teacher’s Fund, when you call or use the enty form attached in this email.
Please let me know if you have any questions about this extraordinary raffle & fundraiser.
Sincerely,
Your Name Here.
Your Name Here.
P.S. Enter today and have a friend, business associate or family member buy a ticketand qualify to win $10,000 each and iPads in our Refer a Friend drawing!
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