Real Estate: What is Inventory?

June 2023 Local Market Update

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Kathleen has helped 7 Santa Barbara Families Buy or Sell a home this year.

Inventory Impact on South Coast Median Selling Price / Single-Family Homes: $2,212,500 (YTD Thru May 2023)

What is Inventory??

The number of homes we can sell.?Even with high interest rates, and national economic concerns, here locally in Santa Barbara, there are record low numbers of inventory - not enough homes for the buyers currently looking to purchase them.

Inventory is the big reason for seeing multiple offers, stable prices, and needing an excellent team on your side.

Year to date, housing prices have calmed as an intentional result of increases in interest rates, some buyers are either unable to purchase or waiting on the sidelines to see what is next, yet both move-in ready homes and fixers remain competitive.

I love doing good work with good people who are buying, selling, and investing; and sharing info & exclusive access to pre-market properties.?Recent families served:

980 Veronica Springs - Represented Seller,?Sold Off Market Above Asking

1528 Castillo - Represented Buyer, Won vs multi offers and built excellent relationships with all involved.

Sellers, if you have a reason to move, you may want to discuss how much equity is in your home (and property tax breaks depending on your circumstances).??

Buyers,?if you want to own a home instead of paying rent, and can find a home with no red flags + monthly payment you can afford today, you may want to discuss how to make the move vs. waiting for even more buyers to come off the sidelines.???

If you know someone I can help, I’m happy to discuss the pros/cons of our hyper-local market.?

Kathleen Rogers, Realtor Partner

Zia Group | eXp Realty?

Mobile # (805) 864-5077

DRE # 02044953

Email [email protected] to share your feedback and referrals, help me share tips and sign up for my newsletter: Love Where You Live: Welcome to Santa Barbara for Real Estate Insights, Community Impact & Fun Meet-ups!

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