It’s been an interesting first quarter in the real estate market, and we have some exciting facts to share with you. Carpinteria, one of our prime locations, outperformed many other areas in terms of appreciation and closings. In this article, we will discuss the key highlights of the real estate market in Carpinteria and how it compared to the same period last year.

Firstly, let’s talk about the median sale price for houses, which was $2,580,000, a 61% increase from Q1 last year. This is a remarkable jump in such a short period, indicating the strength of the housing market in Carpinteria. The total number of active listings decreased by 18%, and the same number of closings was recorded. This suggests that the market is moving at a steady pace, and demand is still strong.

Homes in Carpinteria and Summerland sold for 2% over the list price, compared to right at the list price last year. This shows that buyers are willing to pay a premium for their desired properties, resulting in an increased median sale price for homes.

Condos in Carpinteria also saw an increase in median sale price of almost 20%, which is a significant increase in such a short period. However, there were 10% fewer listings and 55% fewer sales over Q1 of last year, indicating that condos in Carpinteria were not in as high demand as homes. Condos sold for 4% under the list price, compared to 3% over the list price last year. This suggests that buyers had more bargaining power when it came to purchasing condos.

In summary, Carpinteria had a fantastic first quarter, with both homes and condos experiencing an increase in median sale price. Inventory is low, which suggests that the market is competitive, and homes are going over asking prices. On the other hand, condos are selling under asking prices, indicating that buyers have more bargaining power. It will be interesting to see how April panned out, and we will be sure to update you next week.

In conclusion, Carpinteria’s real estate market is robust and shows no signs of slowing down. With such strong demand and limited inventory, it’s a seller’s market. If you’re in the market for a property in Carpinteria, now is the time to act.