How Is The Market??

HOW IS THE MARKET??

 

In the month of April we brokered total of 578 transactions, 17% increase from last year this time. Our average price and median price have increased respectively by 5% and 2.4%. Sale of Single Family Homes are up by 7%, median up 11% and average home prices up by 12.8% from last year. Our buyers are staying put to make offers because there is not enough inventory on the market. We need more inventory. Buyers today are picky and have high standards, they expect better prices and better offerings. Over the last several years 2015, 2016, 2017 prices increased astronomically and sellers were asking top dollar for their homes. This caused less affordability for most buyers and it was just a matter of time and market change for the buyers to decide to sit longer and wait for a better offering and more affordable home for their family. Overall the market is healthy and buyers are out and about looking for homes. We advise sellers to price their home according to the market prices in order to capture more buyers and avoid having their house sit on the market for too long. This may be a shot in the foot. As always I wish all my readers my very best.

 

Sincerely,

Sina Omidi

 

Look for Fine Homes on http://www.SinaOmidiRealEstate.com and contact me with any inquiries at 805.689.7700 or SinaOmidiRealEstate@Gmail.com

 

#realesate #SantaBarbara #Montecito #Homes #realesateBroker #finehomes

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