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
 

2023 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter

2022 ARCHIVES

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

2021 ARCHIVES

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

2020 ARCHIVES

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

2019 ARCHIVES

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

2018 ARCHIVES

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

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 ~

3rd Quarter 2009

The first half of 2009 certainly has not brought any stability to the residential real estate market along our South Coast. While overall inventory numbers remain virtually unchanged, prices have continued to slide. Median prices have declined 21% to $710,000 and average prices have plummeted 36% to $1,052,247, levels not seen since 2003. However, on a positive note, the monthly number of sales has increased each month for the past 5 months.

On a national level, low interest rates (on conforming loans) and tax credits are spurring Buyer demand and helping to stabilize the national real estate market. Unfortunately, financing for higher priced properties is still difficult to obtain, and rates are not competitive with conforming loans. Inventory levels for high-priced homes have more than doubled since mid-2007. Any meaningful recovery for higher-end real estate markets will need to be preceded by the availability of competitively priced jumbo loans for qualified homebuyers.

Montecito
For Montecito, overall, the market continues to be very challenging. Inventory levels have risen 23% to 421 active MLS listings. The total number of sales, 54, is a decline of 43%. Median and average prices each declined 33% to $2,325,000 and $3,086,464 respectively. I expect an improvement in sales in the 3rd quarter as the increased selection and lower prices are attracting savvy bargain hunters.

P.S. Although the market is challenging, it is not impossible. Through accurate pricing, and extensive marketing and advertising, I have continued to achieve sales for my clients. If you are serious about selling your property, please give me a call at (805) 565-4896. All calls will be confidential.


 

Copyright Dan Encell