Check out this Santa Barbara, CA fix & flip from one of our investment partners. They did a great job with the remodel. We loved everything about this fix and flip project. The remodel was completed with all the right finishes, very nice staging and photos, and most importantly it was profitable.
The Santa Barbara housing market has been on an intriguing journey! From a slight dip earlier this year to a steady rise in recent months, the numbers tell an interesting story:
💰 The peak median home price hit an all-time high of $1,798,000 in July 2022, reflecting the market’s strength at the time.
📉 Between July 2022 and April 2023, the market experienced an 8% drop, marking a notable shift in trends as rates were increasing rapidly and demand decreased
📈 Since April 2023, however, the market has been steadily climbing once more, with a 6.5% increase in median home prices. The current median price now stands at $1,766,000, showing resilience and a renewed upward trajectory.
As we approach the end of October, the market continues its upward trend, although the pace of increase has slowed slightly. This adjustment reflects a healthy stabilization, offering a more balanced landscape for both buyers and sellers. At Lantzman Lending, we’re closely monitoring these shifts to better assist you in navigating the evolving Santa Barbara real estate scene. Whether you’re considering buying, selling, or investing, our team is here to guide you through every step.