Return to Dan's Home Page
Meet Daniel Encell
Dan's current listings
Services for Buyers & Sellers
Information about the Santa Barbara area
Market information for the Santa Barbara area
Success with Dan Encell
Dan in the Media
Search the Multiple Listing Service
Contact Dan
 

2017 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2016 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2015 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2014 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2013 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2012 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2011 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2010 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2009 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2008 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2007 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2006 ARCHIVES

1st Quarter
2nd Quarter
Economic Forecast
3rd Quarter
4th Quarter

2005 ARCHIVES

1st Quarter
2nd Quarter
Economic Forecast
3rd Quarter
4th Quarter

2004 ARCHIVES
1st Quarter
2nd Quarter
Economic Forecast
3rd Quarter
4th Quarter
2003 ARCHIVES
1st Quarter
2nd Quarter
3rd Quarter
4th Quarter
2002 ARCHIVES
COMING SOON
2001 ARCHIVES
COMING SOON
2000 ARCHIVES
1st Quarter
2nd Quarter
2nd Quarter Economic Forecast
1999 ARCHIVES
1st Quarter
2nd Quarter
3rd Quarter
1998 ARCHIVES
1st Quarter
2nd Quarter
Economic Forecast
2nd Quarter Article
3rd Quarter
4th Quarter
1997 ARCHIVES
2nd Quarter
Economic Forecast
3rd Quarter
4th Quarter
1996 ARCHIVES
2nd Quarter
3rd Quarter
1995 ARCHIVES
3rd Quarter

 

Daniel Encell's
Quarterly Real Estate Update
~ Archives ~

Third Quarter, 2005

Statistics for the first six months of 2005 continue to show a strong real estate market for the Santa Barbara area. Despite a decline in the number of sales, both average and median prices rose for each community along the South Coast. The median price increased 16% to $1,005,000 and the average price increased 25% to $1,594,590 (a new record). The number of sales over $1 million increase a dramatic 93% to 599 (another record).

For Montecito, while the number of sales declined slightly (161 compared to 170), the median price increased 19% to $2,224,000 and the average price increased 16% to $3,183,233.

Recent newspaper articles have indicated that inventory levels of homes offered for sale are increasing in the Santa Barbara area MLS. However, this is true only because of the increase in the practice of placing properties that are actually not in our area (Santa Maria, Lompoc, Ojai, Ventura, Camarillo, Oxnard, etc) into our MLS. For properties actually in the Santa Barbara area, inventory levels are relatively unchanged compared to last year. While there has always been a section of the Santa Barbara MLS reserved for such “out of area” properties, the number of submissions has increased dramatically.

For the first half of 2005 the number of “out of area” listings included in the Santa Barbara MLS increased 78% (495 in 2005 compared to 278 in 2004) and “out of state” listings increased 142% from 7 to 17. San Ynez has its own section within the Santa Barbara MLS and the number of listings in this category rose 30% (from 156 to 203). The reason for this is simple– many local Buyers are drawn to the affordability of these outlying communities leading to many local agents expanding the geographic areas that they will show property in.

 

Copyright Dan Encell