$929,000 House For Sale
3 bed, 2.0 bath, 1,600 sqft
The median home value in Santa Barbara is $943,500. Santa Barbara home values have gone up 10.8% over the past year and Zillow predicts they will rise 4.9% within the next year. The median list price per square foot in Santa Barbara is $657, which is higher than the Santa Barbara Metro average of $427. The median price of homes currently listed in Santa Barbara is $995,000 while the median price of homes that sold is $866,500.
Foreclosures will be a factor impacting home values in the next several years. In Santa Barbara 1.8 homes are foreclosed (per 10,000). This is lower than the Santa Barbara Metro value of 2.7 and also lower than the national value of 4.4
Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Santa Barbara is 6.1%, which is lower than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Santa Barbara homeowners underwater on their mortgage is 6.0%, which is lower than Santa Barbara Metro at 16.4%.more
The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
Homes foreclosed (per 10,000)