2023 is in full swing, and so is business at Knight Real Estate Group. We are delighted to share some exciting developments at Knight Real Estate Group, and also provide you with our insights on the shifting 2023 Santa Barbara real estate market.
Santa Barbara Real Estate: Recap & Accolades
The pandemic-driven real estate market was a speed-based market. Sellers demanded an agent with pricing and process expertise to help them achieve the best possible outcome on the sale of their home or asset in the shortest amount of time, while Buyers required an agent with deep, local connections and an excellent reputation who could act quickly and decisively to help secure the right property. Knight Real Estate Group saw tremendous growth in our business during this time, closing over $100 Million in sales volume in two years. More importantly, we helped 42 clients achieve their real estate goals. Knight Real Estate Group was the #1 producer in Village Properties’ Santa Barbara Office for 2022, and the #3 producer company-wide.
Growth: Grandcolas joins Knight Real Estate Group
Our success in the fast-paced market would not have been possible without the assistance of Gabe Grandcolas. Grandcolas – a graduate of USC’s Marshall School of Business (Cum Laude 2018) – began mentoring with Kelly in 2021 and quickly became an indispensable member of the team. A Santa Barbara native, Grandcolas has deep, regional knowledge coupled with a sharp, analytical mind, tenacious work ethic, and genuine love of real estate and the clients he serves. Grandcolas formally joined Knight Real Estate Group as a licensed Sales Associate in December 2022.
Specialization: We are Process Experts
For over 18 years, Kelly Knight has leveraged her legal background and experience as a former practicing attorney to provide sophisticated, customized real estate services for estates and families during periods of transition, such as trust administration and distribution, probate proceedings, marriage dissolution, and right-sizing for seniors. Today, Knight Real Estate Group is recognized as a leading expert in this area, having successfully handled over 150 sales for Seller/Trustees and helping countless seniors downsize to an appropriate living space or community. For more information about our specialization and the services we provide to our clients, please click here.
Community: We Give Back
At Knight Real Estate Group, we believe it’s a fundamental responsibility to give back to our community and support our friends and neighbors. We’re passionate about providing those deserving in our community with the opportunity to attain a college or advanced vocational education. Kelly has served as a Director of the Scholarship Foundation of Santa Barbara for over 5 years and currently chairs the Development Committee. Knight Real Estate Group also contributes regularly to the Village Properties Teacher’s Fund campaign. We believe that investing in our community is the right thing to do.
2023 Outlook: Where do we go from Here?
Whether there will be a recession or not, or whether we are already in one or not, depends on the economist you talk to on any given day. The same is true for residential real estate. The answer to whether the Santa Barbara real estate market is softening or not depends on the realtor you talk to on any given day. Here’s our take:
Despite the national headlines, most segments of the Santa Barbara area real estate market remain strong. The levers driving the local real estate market in 2023 are housing inventory and mortgage interest rates. In other words, the basic economic law of supply and demand is keeping our market competitive.
With a historically low supply of homes for sale in our area, demand continues to outpace supply despite the loss of some would-be buyers who have been sidelined by steep interest rates. We expect the trends that dominated the last half of 2022 to continue in 2023: higher interest rates as inflation concerns remain; low housing inventory; fewer homes selling above the asking price; and relatively stable prices in the general Santa Barbara area (with a few pockets of softness).
We welcome the opportunity to discuss our local market with you!
All information provided is deemed reliable, but has not been verified & we do not guarantee it. This promotion is not intended to solicit currently listed properties. DRE# 01463617