Home prices have risen dramatically year-over-year on the Mesa in all districts. Low inventory (particularly in the sub-$1MM up to $1.5MM price point), pent-up-consumer demand, and a favorable interest rate climate have all contributed to strong sales and price appreciation year to date.

MEDIAN SALES PRICE APPRECIATION ON THE MESA*

Median sales price by Mesa District
Six Months Ended November 11/19/2013

Inventory continues to be a challenge for home buyers… many of whom find themselves in competitive, multiple offer situations. Significant opportunity exists for sellers at all price levels due to low inventory and favorable interest rates.

MESA INVENTORY AS OF NOVEMBER 19, 2013

New lending requirements to take effect in January 2014 are an important NEAR TERM consideration for both buyers and sellers, suggesting that now could be a good time to get into the market. Email or call us to discuss how you might be affected and to review your options!

Maurie McGuire & Scott Westlotorn
Maurie@MontecitoLand.com | Scott@MontecitoLand.com
805.403.4313 | 805.403.8816

(SOURCE FOR ALL DATA: Santa Barbara Association of Realtors Multiple Listing Service)