SANTA BARBARA REAL ESTATE MARKET UPDATE THROUGH NOVEMBER 2020

As we move into the final days of 2020 it is a time to reflect on a year that has been far from normal. In the real estate industry we have seen unprecedented trends and changes. We have stayed up to the minute with continuously changing regulations, which has often been very challenging. At Village Properties, our top priority has been keeping our clients and agents safe and healthy, vigilantly following the very strict showing and safety guidelines that our Governor has required of our industry.

After an almost dead real estate market in March, April and May, we saw an incredible surge in home sales and prices, and this trend does not appear to be slowing. People from all over our state, and in fact the USA, have ear-marked our beautiful area as a relatively safe and definitely very desirable location to live.

The Year-to-Date Median Price is up 20% from last year. The shrinking inventory due to record sales, as well as the continued high demand indicates that our prices will continue to rise in certain markets. Our agents are skilled at help- ing their sellers price and prepare their homes, ensuring they receive the highest possible price in this type of market.

Continued low interest rates mean that it is a good time for buyers to invest in a new home. Navigating multiple offer situations (which are not uncommon at the moment) requires an agent with local market expertise, exceptional skills and the very best real estate tools. Our highly trained Village Properties agents definitely meet these criteria.

Despite the challenges we have all faced, we are proud to have helped 794 homeowners either sell or buy this year, help- ing them make their dreams and desires come to fruition.

As we close out 2020, we want to wish you a very Happy Holiday season and look forward to continuing to serve you in 2021. I leave you with this quote that is so relevant for the challenges of today.

“Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time.” ~ Thomas Edison

Warm Regards,
Renee Grubb
Owner of Village Properties