Saturday, November 2, 2013

Santa Barbara still seeing price increases

MONEYWATCH/ November 2, 2013, 6:50 AM
2. Santa Barbara, Calif. area
Santa Barbara is the only California town on the list, as most of the cities from the Golden State have already moved through a stage of accelerated recovery and have achieved a steadier pace of recovery. But Santa Barbara is still seeing big increases in home prices, to the tune of 27 percent. That takes the median list price in Santa Barbara from $549,000 to $697,777 -- the most expensive on this list.

Inventory dropped this year 15.9 percent and the age of inventory dropped 34 percent, meaning that homes stay on the market an average of just 41 days in the city, down from 62 and the smallest number of days on market in this li
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