Goleta Magazine 2020-2021 - 20

Residential Real Estate
The Goleta market shows no sign of slowing down
The National Association of Realtors reported that U.S.
existing-home sales soared 24.7 percent in July, outpacing
their record growth of 20.7 percent in June, when the nation's
economic reopening ignited home buying activity.
Now 8.7 percent higher year over year, the strong rise in
existing-home sales, including single-family homes, townhomes and condominiums, is fueling optimism in the real
estate market through the rest of the year. In the West, sales
are up 30.5 percent, and the median home price ($453,800)
is up 11.3 percent.
The South Coast real estate market also can be characterized as hot. Properties that are priced appropriately are
selling quickly, often with multiple offers, and for more than
the listing price.
" In terms of our real estate market, you would not know that
we are in the middle of a pandemic, " veteran Realtor Bob
Curtis of Village Properties said. " Prices are rising because
of a very limited inventory of properties currently for sale.
Sellers are motivated to take advantage of record-selling
prices, and buyers are jumping into the market partially
because of record-low interest rates. "

GOLETA MAGAZINE

SBSCChamber.com

As more people are working out of their homes, the homes
that they live in have become more important. People who
can work remotely from anywhere in the world are also
choosing to call Santa Barbara home. Some are moving to
the Goleta and Santa Barbara area to escape congested
metro areas.
The Goleta market remains strong. The cost of living in Goleta
is similar to other Southern California coastal communities,
with a median home price of $817K. The median household
income is $87,000. Despite a high cost of living, occupancy of
apartments, condos and houses remains high.

In terms of our real estate market,
you would not know that we are
in the middle of a pandemic. "
BOB CURTIS
Realtor, Village Properties

http://www.SBSCChamber.com

Goleta Magazine 2020-2021

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