Property Sales
May Property sales were 108, up 3.8% from 104 in May of 2010 and 18.7% higher than the 91 sales last month. May 2011 sales were at their highest level compared to May of 2010 and 2009. May YTD sales of 430 are running 1.1% behind last year's year-todate sales of 435.
Prices
The Median Sales Price in May was $785,189, down 14.0% from $912,500 in May of 2010 and dow
n 11.3% from $885,000 last month. The Average Sales Price in May was $1,219,626, down 11.6% from $1,379,685 in May of 2010 and down 9.7% from $1,350,768 last month. May 2011 ASP was at the lowest level compared to May of 2010 and 2009.
Inventory & MSI
The Total Inventory of Properties available for sale as of May was 817, up 1.2% from 807 last month and down 14.0% from 950 in May of last year. May 2011 Inventory was at its lowest level compared with May of 2010 and 2009.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The May 2011 MSI of 7.6 months was at its lowest level compared with May of 2010 and 2009.
Market Time
The average Days On Market (DOM) shows how many days the average Property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for May was 109, up 45.3% from 75 days last month and up 25.3% from 87 days in May of last year. The May 2011 DOM was at a mid level compared with May of 2010 and 2009.
Selling Price per Square Foot
The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the 'mix' of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The May 2011 Selling Price per Square Foot of $546 was up 16.0% from $471 last month and up 4.8% from 521 in May of last year.
Selling Price vs Original Listing Price
The Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market. The May 2011 Selling Price vs Original List Price of 95.5% was up from 94.4% last month and down from 95.8% in May of last year.
Inventory / New Listings / Sales
This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in May 2011 was 231, down 0.9% from 233 last month and up 12.1% from 206 in May of last year.
Click on image for full report
Property Sales
March Property sales were 108, up 17.4% from 92 in March of 2010 and 71.4% higher than the 63 sales last month. March 2011 sales were at their highest level compared to March of 2010 and 2009. March YTD sales of 230 are running 1.3% ahead of last year's year-to-date sales of 227.
Prices
The Median Sales Price in March was $677,000, down 15.9% from $805,000 in March of 2010 and down 19.9% from $845,000 last month. The Average Sales Price in March was $1,145,805, down 1.4% from $1,161,590 in March of 2010 and up 2.6% from $1,117,283 last month. March 2011 ASP was at the lowest level compared to March of 2010 and 2009.
Inventory & MSI
The Total Inventory of Properties available for sale as of March was 754, up 2.4% from 736 last month and down 13.6% from 873 in March of last year. March 2011 Inventory was at its lowest level compared with March of 2010 and 2009.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The March 2011 MSI of 7.0 months was at its lowest level compared with March of 2010 and 2009.
Market Time
The average Days On Market (DOM) shows how many days the average Property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for March was 91, down 32.1% from 134 days last month and up 4.6% from 87 days in March of last year. The March 2011 DOM was at a mid level compared with March of 2010 and 2009.
Selling Price per Square Foot
The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the 'mix' of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The March 2011 Selling Price per Square Foot of $439 was down 6.5% from $470 last month and down 6.1% from 468 in March of last year.
Selling Price vs Original Listing Price
The Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market. The March 2011 Selling Price vs Original List Price of 95.4% was up from 94.7% last month and down from 96.2% in March of last year.
Inventory / New Listings / Sales
This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in March 2011 was 227, up 22.0% from 186 last month and up 5.6% from 215 in March of last year.
Local Supply & Demand, when are we in Buyer’s or Seller’s market?
One question we often come across is; what is the market supply? We also find that this is a statistic that is also, not commonly followed. Before we answer the question of market supply, it is important to define the parameters of how we calculate and measure supply.
We like to measure supply in time, that is to say, how many months can we sustain the current sales pace, if no more listings were to come on the market. So to calculate supply we take the total number of primary residential active and pending MLS listings divided by the 12 month average of monthly closings. We should say, we are measuring our market as listings in Carpinteria, Montecito, Hope Ranch, Santa Barbara, and Goleta.
As of April 19, 2011:
Total Market Listings: 988 (Supply): - up 57 from March 2011
12-Month Average Closing Rate (Demand): 107.1 - down 0.6 from March 2011
Market Supply in Months: 9.2 - up 0.6 from March 2011
According to the National Association of Realtors, a housing market with 6 months of supply represents a balanced market. Having more than 6 months of supply would represent a Buyer’s market and having less than 6 months of supply would represent a Seller’s market.
(Click on image for full report)
Property Sales
January Property sales were 58, down 25.6% from 78 in January of 2010 and 44.8% lower than the 105 sales last month. January 2011 sales were at a mid level compared to January of 2010 and 2009. January YTD sales of 58 are running 25.6% behind last year's year-to-date sales of 78.
Prices
The Median Sales Price in January was $829,300, up 8.6% from $763,500 in January of 2010 and up 6.7% from $777,000 last month. The Average Sales Price in January was $1,111,798, down 26.7% from $1,515,775 in January of 2010 and down 23.6% from $1,455,686 last month. January 2011 ASP was at a mid range compared to January of 2010 and 2009.
Inventory & MSI
The Total Inventory of Properties available for sale as of January was 683, up 0.9% from 677 last month and down 11.0% from 767 in January of last year. January 2011 Inventory was at its lowest level compared with January of 2010 and 2009.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The January 2011 MSI of 11.8 months was at a mid level compared with January of 2010 and 2009.
Market Time
The average Days On Market (DOM) shows how many days the average Property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for January was 103, up 10.8% from 93 days last month and down 20.8% from 130 days in January of last year. The January 2011 DOM was at a mid level compared with January of 2010 and 2009.
Selling Price per Square Foot
The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the 'mix' of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The January 2011 Selling Price per Square Foot of $451 was down 13.8% from $523 last month and down 17.0% from 543 in January of last year.
Selling Price vs Original Listing Price
The Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market. The January 2011 Selling Price vs Original List Price of 94.4% was up from 94.0% last month and down from 94.9% in January of last year.
Inventory / New Listings / Sales
This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in January 2011 was 210, up 153.0% from 83 last month and up 5.0% from 200 in January of last year
Local Supply & Demand, when are we in Buyer’s or Seller’s market?
One question we often come across is; what is the market supply? We also find that this is a statistic that is also, not commonly followed. Before we answer the question of market supply, it is important to define the parameters of how we calculate and measure supply.
We like to measure supply in time, that is to say, how many months can we sustain the current sales pace, if no more listings were to come on the market. So to calculate supply we take the total number of primary residential active and pending MLS listings divided by the 12 month average of monthly closings. We should say, we are measuring our market as listings in Carpinteria, Montecito, Hope Ranch, Santa Barbara, and Goleta.
As of February 15, 2011:
Total Market Listings: 883 (Supply): - up 59 from January 2011
12-Month Average Closing Rate (Demand): 106.8 - down 24.3 from January 2011
Market Supply in Months: 8.3 - up 2.0 from January 2011
According to the National Association of Realtors, a housing market with 6 months of supply represents a balanced market. Having more than 6 months of supply would represent a Buyer’s market and having less than 6 months of supply would represent a Seller’s market.
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Two Full-Time Realtors with over 20 combined years experience in Real Estate and 10 years with Sotheby’s International Realty Melissa Birch & Rich van Seenus
Two Full-Time Realtors with combined 19 years experience in Real Estate and 10 years with Sotheby’s International Realty
Over 80% of our business is referral based and we continue to maintain a strong network of satisfied Buyers and Sellers
We hire a professional photographer to get the best marketing pictures possible and produce High Quality, brochures including floor plan
We offer the highest level of exposure through local & international publications and over 17 highly regarded websites around the globe
Strong Relationships with local title companies, colleagues, appraisers, lenders and Realtors
Well versed with home inspection reports, title reports and underlying documents
Proficient in soil investigation, environmental assessments, zoning, and land use (Agent also has General Contractor License)
All inquiries with buyers and agents responded to promptly and feedback provided to Seller for all showings, caravans and open houses
We have a proven history of closed sales, please visit our Sales History Tab
Both of Melissa & Rich are from Santa Barbara and offer a superior knowledge of local housing inventory, community, neighborhoods and schools
And . . . We love what we do for a living, we’re good at it, and it shows!
Melissa Birch
Longtime Santa Barbara resident, Melissa has in-depth knowledge of the area, marketing savvy, dedication to her clients' discriminating needs and tastes, contagious enthusiasm and a professional support team, giving her a distinct edge. Every year since 2000, she has earned the titles Top 10 Agent and Top Producer of her Sotheby's International Realty office in prestigious Montecito.
Earning her Master's Degree in Education from Pepperdine University, Melissa returned to Santa Barbara and spent three years as a teacher, inspired by her former elementary school instructor as well as her strong sense of family. Through teaching, she developed a deep commitment to community involvement as well as the versatile communication skills she brings to her successful real estate career.
Sensitive to the needs of families and individuals alike, Melissa believes homes are a foundation for the people who create and sustain the community. As a wife and mother, she is well-suited to accommodate clients' desires to be in neighborhoods specific to their lifestyles. With that understanding, she brings her impeccable professionalism to transactions ranging from modest condominiums to multimillion dollar estates, and to her portfolio of both local and international clientele.
Underlying Melissa's contagious enthusiasm and undeniable appeal as a realtor is her love and appreciation for Santa Barbara.
Rich van Seenus
Richard brings over 11 years experience having negotiated and contracted real estate transactions ranging from $55,000 to 44 million dollars. Licensed Real Estate Broker and former Land Director for a nationally recognized Homebuilder, Richard’s strengths are the due diligence process, entitlements, contract negotiating, and persistence in combing the market. Richard is proficient in land acquisitions and real estate development, with a proven track record of achieving “top performance” in his field. From vacant land to single-family homes, Richard is dedicated, professional, and highly motivated to meet the needs of both existing and prospective clients.
Raised in Santa Barbara, Richard has a detailed knowledge of what it is to be a local, offering a first-hand resource on schools and special areas in town. Also a licensed General Contractor, Richard adds benefit for buyers and sellers through his knowledge of various construction methods. Richard upholds high building standards, understands “green” methods, and values the preservation of homes in his community.
Richard’s professional affiliations include National, California, and Santa Barbara Associations of Realtors, Toastmasters International, and the Santa Barbara Young Professionals.
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