For the greater Santa Barbara area (Carpinteria to Goleta) the number of single-family home sales rose in 2017 with about 5.7% more sales this year than last. The median price through November was $1,250,000, up 8.7% from 2016. Notably, twelve years ago (2005) saw the highest median price on record also at $1,250,000. The number of condominium sales was about even to 2016 levels and the median price was up 4.6% to $630,500. Median condo prices peaked in 2005 at $675,000. Current market stats show average ‘days on market’ (DOM) is currently running 75 days for houses and 39 days for condos.
Interest rates continued to stay low in 2017, although they have risen slightly during the year. The Federal Reserve Bank’s three rate hikes in 2017 and anticipated hikes in 2018 will put upward pressure on rates. I think that we will continue to see very low interest rates in 2018 in the 4% – 4.75% range.
In 2018 I think we will see moderate appreciation of single family homes and condominiums, about 2-5% for both. It is a seller’s market at current inventory levels, but your home’s condition means everything if you want to get top dollar for your property. As always I am available to evaluate and advise which improvements will net you the highest return on your dollars spent.
Haskell’s Beach, December 2017
Condominiums and Houses Currently for Sale
| Status | Address | Price | Beds | Baths | Sq Ft | DOM |
| Active | Hollister Ave* | $615,000 | 3 | 2 | 1370 | 110 |
| Active | Cannon Green Dr* | $675,000 | 3 | 3 | 1470 | 18 |
| Active | Lowell Way | $799,000 | 2 | 2 | 1220 | 39 |
| Pending S | Cannon Green Dr* | $599,000 | 3 | 2 | 1160 | 103 |
| Active | Pismo Beach Circle | $819,000 | 3 | 2 | 1248 | 3 |
* indicates condominium
Closed Sales – Condominiums and Houses
| Address | Sold Price | Beds | Baths | Sq Ft | DOM | Sale Date |
| 7640 Hollister Ave 135* | $384,000 | 1 | 1 | 696 | 12 | 11/08/17 |
| 7628 Hollister Ave 236* | $530,125 | 2 | 2 | 1145 | 157 | 12/19/17 |
| 7636 Hollister Ave 262* | $527,000 | 2 | 2 | 1020 | 29 | 09/28/17 |
| 7102 Phelps Rd* | $620,000 | 2 | 2 | 1411 | 1 | 11/16/17 |
| 391 Cannon Green Dr F* | $660,000 | 3 | 3 | 1360 | 5 | 10/12/17 |
| 321 Pacific Oaks Rd | $752,000 | 2 | 3 | 1797 | 9 | 01/04/18 |
| 211 Saratoga Ct | $785,000 | 4 | 2 | 1434 | 43 | 11/29/17 |
| 7219 Fordham Pl | $865,850 | 4 | 2 | 1789 | 24 | 10/04/17 |
| 429 Pacific Oaks Rd* | $925,000 | 2 | 2 | 1770 | 1 | 12/13/17 |
* indicates condominium
- Median condominium sale price in the Ellwood area Jan. – Dec. 2017: $540,000 (28 sales)
- Median home sale price in the Ellwood area Jan. – Dec. 2017: $855,000 (16 sales)