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Weekly Update Real Estate Market Update

Santa Barbara South County, April 2022 Review

Here’s what happened in April in the south county: the median sale price for homes and condos was $2.2 million. This is 36% higher than it was April last year and 19% higher than just last month. Homes sold on average within 18 days on the market at a whopping 8.6% over the asking price. We have a mere 127 homes on the market which is 25% lower than last April and way lower than April 2020 when we had almost 500 homes on the market. We have not seen the recent increases in interest rates affect our buyer demand quite yet however the Fed is meeting again today, May 3 to discuss another potential hike. If rates are increased again we expect that that buyer demand will be impacted.

Buyers Need Homes

I am working with several buyers across many price ranges that are prequalified and ready to buy now, but due to current drastically low inventory, we can't find them a home. If you are considering selling, please reach out to me today. Curious what your home is worth? Get an immediate answer by clicking below.

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