January was a big month in the Santa Barbara area in terms of real estate. With an average selling price of $1,226,406 and sales up 4.4% from January 2012, things are looking up.
January Property sales were 95, up 4.4% from 91 in January of 2012 and 36.2% lower than the 149 sales last month. January 2013 sales were at their highest level compared to January of 2012 and 2011. January YTD sales of 95 are running 4.4% ahead of last year's year-to-date sales of 91.
The Median Sales Price in January was $842,490, up 7.3% from $785,000 in January of 2012 and up 5.3% from $800,000 last month. The Average Sales Price in January was $1,226,406, up 15.8% from $1,059,028 in January of 2012 and down 9.7% from $1,358,560 last month. January 2013 ASP was at the highest level compared to January of 2012 and 2011.
Time on Market:
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 59, down 3.3% from 61 days last month and down 18.1% from 72 days in January of last year. The January 2013 DOM was at its lowest level compared with January of 2012 and 2011.