October's First-Time Homebuyer Report for Santa Barbara

Santa Barbara has an older population than other areas in California with a median age of 36 years. It is also affluent with a median income of $56,884 per household. 93101, 93103, and 93108 are the three largest zip codes in terms of population. The Santa Barbara market primarily consists of detached houses, accounting for 70% of the current homes in the area. The best school in the city is Washington Elementary School.

Culture

If you are interested in some outdoor fun, Foursquare says that Santa Barbara Harbor and West Beach are the most popular places in Santa Barbara. If you like arts and entertainment, some popular spots are The Arlington Theatre and Santa Barbara Museum of Art. And finally, Boathouse at Hendry's Beach, Arigato Sushi, and Shoreline Beach Cafe are frequently visited spots to eat.

Price Range

The median value of homes in Santa Barbara is $688,800, making it one of the most valuable areas in California. At the same time, the average list price of available homes is presently $1,706,538. The homes with the highest value are in 93108, 93109, and 93101. The Santa Barbara market was active in this week's report, as the number of home sales rose 33.3%, pushing the total to four homes sold over the last 30 days.

Curious as to which homes have been getting the most attention in Santa Barbara? These listings have stirred up interest and produced the most views:

$499K   $965K   $1.9M  

Typical Dwelling

A three-bedroom detached home valued around $1,482,888 is considered a typical dwelling in Santa Barbara. If a buyer was looking for a similar home, they would need good credit and a $296,578 cash down payment to get a mortgage with a 3.95% interest rate. The monthly payments would be $3,752 and the property tax rate is $5.62 per $1,000 of taxable assessed value.

Get started right now by checking out Santa Barbara homes for sale or reviewing Santa Barbara real estate trends.


Data reported through 10/13/2016

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