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(805) 895-4406
DRE# 01463617

Knight Real Estate Group

Knight Real Estate Group

  • About
    • The Team
    • About the Area
    • Kind Words
  • Properties
    • Listings & Recent Sales
    • Our Sales History
    • Search
  • Market Update
  • Trust/Probate Sales
  • In The News
  • Blog
  • Contact

market-report-february_2024

market-report-february_2024admin@knightrealestategroup2024-03-22T12:04:26-08:00

Market Report February 2024

Market Report February 2024.

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Santa Barbara Real Estate Market Report | February 2024 →

About The Group

Knight Real Estate Group brings outstanding client advocacy, true professionalism and unsurpassed knowledge of the field of real estate to all aspects of the buying and selling process in Santa Barbara, Montecito and Hope Ranch.

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❤️ If you're looking for ways to help those im ❤️ If you're looking for ways to help those impacted by the fires, @sbsouthcoastchamber has shared trusted organizations making a difference: ⁠🔸 @unityshoppesb - Accepting new and gently used items 
🔸 @americanredcross - Providing shelter, food, and health services 
🔸 @directrelief - Delivering targeted aid and N95 respirators 
🔸 @calfund - Supporting long-term recovery efforts for affected communities 
🔸 @cafirefound - Supporting firefighters, fallen heroes, and wildfire victims 
🔸 @losangelesfiredepartment - Equipping LAFD with critical resources like hydration backpacks 
🔸 @pasadenahumane - Assisting animals in need of emergency care 
🔸 @salvationarmyus - Providing food, shelter, and necessities to first responders and victims 
🔸 @launitedway - Supporting low-income individuals affected by the fires 
🔸 @WCKitchen - Delivering meals to first responders and wildfire survivors 💡 Stay prepared locally by signing up for emergency alerts at ReadySBC.org. 🏡 If you or someone you know needs immediate rental housing, Berkshire Hathaway is maintaining a list of available options. DM me for the link. Stay safe, everyone! #KnightRealEstateGroup #BHHSRealEstate #BHHSCPSantaBarbara #SantaBarbaraCares #SantaBarbara #Montecito #CaliforniaStrong #WildfireRelief #Housing #TogetherWeAreStronger #Community
As we look back on 2024, we’re filled with grati As we look back on 2024, we’re filled with gratitude—for our amazing clients and community, dedicated team, and the support of family and friends who made this year so memorable. 2024 was full of change and challenges during a shifting real estate market. Through it all, Knight Real Estate Group delivered. We helped 25 clients achieve their real estate goals, from first-time home purchases to probate sales and multi-family investments, closing the year with just shy of $50 million in transaction volume. To our clients—thank you for trusting us with your real estate journeys. Your success inspires everything we do. Here’s to an even brighter 2025! 🥂🌟 
#Gratitude #YearInReview #KnightRealEstateGroup #BHHSRealEstate #BHHSCPSantaBarbara #BHHSCalifornia #SantaBarbaraRealEstate #MontecitoRealEstate #GoletaRealEstate #SantaBarbaraRealtor #RealEstateGoals #LuxuryLiving #CoastalLiving #RealEstateMarket
✨ Closing 2024 with a View Like This ✨ Only 2 ✨ Closing 2024 with a View Like This ✨ Only 2 more days until we open the door to a brand-new year! 🎉🥂🌟 As we prepare to welcome 2025, we're filled with gratitude, excitement, and plenty of new opportunities on the horizon. January will bring stunning new listings, and we can't wait to share them with you! Looking for your next dream home or just curious about the market? DM us for exclusive details. Let’s make your real estate dreams a reality in the new year! 
#SeasonsGreetings #HappyNewYear #CoastalLiving #LuxuryRealEstate #SantaBarbaraRealEstate #MontecitoRealEstate #SantaBarbaraRealtor #KnightRealEstateGroup #BHHSRealEstate #BHHSCPSantaBarbara #BHHSCalifornia
🎄✨ Wrapping up December with so much gratitud 🎄✨ Wrapping up December with so much gratitude and joy! Swipe ➡️ to see some highlights from this magical month: 🎁 Toasting a great year with the team at the Miracle Bar
🎉 Dressing up for the Berkshire holiday party with colleagues 
🤝 Celebrating with cherished referral partners who make this journey so rewarding
💌 Feeling the love with heartfelt moments of appreciation from amazing clients Here’s to closing the year with gratitude and opening the next with even more reasons to celebrate. Cheers to you all for being part of this incredible journey! 🥂💫 #GratefulHeart #HolidayMagic #SeasonOfGiving #RealEstateLife #BHHSRealEstate #BHHSCPSantaBarbara #BHHSCalifornia #SantaBarbaraHomes #TeamworkMakesTheDreamWork #RealEstateTeam #KnightRealEstateGroup #SantaBarbaraRealEstate #CoastalLiving #WorkHardPlayHard
November 2024 Market Report: Strong Performance as November 2024 Market Report: Strong Performance as the Year Wraps Up ➡️ The South Santa Barbara County real estate market continues to demonstrate resilience and steady growth as we approach the end of 2024. Year-to-date (YTD) through November, the average sales price has climbed to $2,941,655, marking an 11% increase over the same period in 2023. The median sales price also saw growth, rising 4% to $1,795,000. Breaking Down the Numbers Single-Family Homes: * Average price: $3,566,383 (+10% YTD) * Median price: $2,200,000 (+5% YTD) Condos: * Average price: $1,289,730 (+3% YTD) * Median price: $998,500 (+5% YTD) Despite higher financing costs compared to the last decade, buyers continue to prioritize homeownership, with 41% of YTD transactions closing as all-cash purchases. Total sales volume also saw a healthy uptick, rising 11% to reach 1,137 units sold this year. Inventory & Market Trends November inventory tightened slightly, with the months of supply (MOS) dipping to 2.58 months, down from 3.14 months in October. This signals a continued competitive market, where well-priced, turn-key properties in desirable locations remain in high demand, often selling quickly and above asking price. Conversely, homes requiring significant updates or priced too ambitiously are seeing longer days on market. Key Takeaway As we close out the year, strategic pricing and exceptional property presentation remain critical for achieving strong results in this dynamic market. If you’re curious about your home’s current value or considering a move in 2025, Knight Real Estate Group is here to guide you with expertise and proven results. Reach out to discuss how we can position you for success in today’s real estate landscape. #KnightRealEstateGroup #SantaBarbaraRealEstate #MarketReport #BHHSCalifornia #LuxuryRealEstate #RealEstateInsights
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© Berkshire Hathaway HomeServices California Properties (BHHSCP) is a member of the franchise system of BHH Affiliates LLC. BHHS and the BHHS symbol are registered service marks of Columbia Insurance Company, a Berkshire Hathaway affiliate. BHH Affiliates LLC and BHHSCP do not guarantee accuracy of all data including measurements, conditions, and features of property. Information is obtained from various sources and will not be verified by broker or MLS. Buyer is advised to independently verify the accuracy of that information.

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Direct: (805) 895-4406
Office: (805) 687-2666

kelly@knightrealestategroup.com

3868 State Street
Santa Barbara, CA 93105

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