Spring flowers are blooming, the Pacific Ocean breeze is blowing, and South Santa Barbara home sales activity is picking up! Central Coast resale agents are finding themselves busy again. Traffic, escrows, listings and pricing in certain areas are all up, kicking the Central Coast’s spring selling season into gear.
The Beautiful Santa Barbara Real Estate Blog reported… Santa Barbara Real Estate through the end of March ‘12 for Montecito, Hope Ranch, Santa Barbara, Goleta, Carpinteria and Summerland: Comparing the first 3 months of 2011 with the same period in 2012, sales are up about 35% with escrows up over 50% and the median sales price is up bit while the average sales prices is down a bit. Year-over-year the Sales Price to Original Price ratio is within 2% of where it was last year and the Days on the Market for sold properties is within 12 days of where it was in 2011.
An example of the Central Coast’s uplifting sales activity is City Ventures’ East Beach Collection in Santa Barbara. The 48-unit attached townhome project is seeing impressive sales, with only 5 more to go before completion. The project has sold 15 homes in 2012 (5 per month!). The City Ventures marketing team attributes the strong homebuyer interest to the project’s unique location, quality product and the limited supply of new product currently available in the marketplace. The East Beach Collection is four blocks from Santa Barbara’s famous State Street and four blocks to the ocean. With no amenities and surrounded mostly by office buildings, the project is in the new hip, up-and-coming area (also referred to as the “funk zone”).
Source: Matt Power, Senior Marketing Consultant, (805) 845-2660