Real Estate in Review 2021

Forbes Year End Report - Recapping on the Luxury Property Market in 2021

This year has already kicked off with an exciting start for the Santa Barbara South County real estate market. Inventory remains at all-time lows, interest rates continue to be low overall (with the expectation of some increases this year), and prices are still climbing. The media has mentioned a 'cooling' market but we are not seeing it locally. This may mean a shift of 20% price increases to 10% increases but it does not mean prices are going down at this moment. The secondary home markets have become the primary markets, now that so many people can take advantage of technology and work remotely, therefore choosing lifestyle first rather than proximity to an office. Even a small shift in percentage of those shifting lifestyles from larger urban markets into markets like ours can drastically change our supply and that is what we are seeing. Our view continues to be that Santa Barbara County is an amazing long-term real estate investment and we are carrying forward with that perspective. We are here to counsel you through these important decisions and are able to garner top prices for our sellers and to help our buyers successfully navigate the real estate landscape. And, as always, referrals are the life of our business and we greatly appreciate your support! We hope 2022 will be your best year yet!

In summary as we look back over 2021 the property market reveals that second homes have now become the new primary residence. Forbes, an exclusive partner of Village Properties has compiled their year-end report inviting member brokerages spanning 11 countries and 140 locations—all established local leaders in luxury property sales— to share their successes and perspectives on the state of the prime property market. We hope you enjoy reading these insights.....

Click below to view Forbes' Year-End Report:

Bonnie Sellers, Chair and Co-founder of Forbes Global Properties discusses the Year-End Market Perspectives Report. This is an extremely accurate perspective for our market revealing pertinent insights.

Click here to view Video >>

In addition to being an exclusive member of Forbes Global Properties, EK&A is also an affiliate of Leading Real Estate Companies of the World which means we can assist you anywhere in the world.

We are proud to have represented transactions ranging from $750,000 condos to $30,000,000 estates. Everyone deserves professional and ethical representation, and the relationship is always more important to us than the commission. Please let us know if you or someone you know could benefit from our services.