The prices in real estate in Santa Barbara, in the California region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Santa Barbara has had a strong decrease during the last 6 months. In April, the average price per sq.feet was $1,189. In the following month the price per sq.feet decreased considerably to $852. In the following two months the price per sq.feet has barely changed, going from $1,020.5 to $1,052 per sq.feet. The price per sq.feet has decreased 87 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $1,036.25 to $906 during August, and September.
Based upon to the price in Santa Barbara (cities), this has gone up considerably in the last 6 months. The price in April is $1,681,173, rising in May till $1,914,690. In the following two months the average price has remained the same with regard to the previous two months from $1,797,931.5 to $1,714,981. Based on an analysis of the first four prices and the last two months the average price has risen strongly 141 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $2,702,077 they are 67 % more affordable than the average price for Santa Barbara. The properties with the lowest average price have 4 bedrooms, Their price is 6 % cheaper than the average. After that we have properties with 3 bedrooms priced at $1,863,111.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $754 / sq.feet, with an average $956 / sq.feet price in Santa Barbara. The properties with the lowest average prices have 1 bedroom. They are 7 % cheaper than the average followed by properties with 3 bedrooms with a price at $844 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $2,702,077 it is 66 % cheaper than the average price in Santa Barbara. "House" is seen as the second most affordable property type. The cheapest type property is "Detached House" followed by "House". At a price of $1,637,952 it is 26 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Condo" at an average cost of $687 / sq.feet followed by "House" priced at $768 / sq.feet. "Detached House" is the most costly type of property with a $1,892 / sq.feet cost followed by "House" with an average price of $768 / sq.feet.