Santa Ynez Valley News


Home values rising in Santa Ynez

5 Sep 2012 11:06 AM
Home values rising in Santa Ynez

In the last few months, home prices have been steadily rising in some of the country's most desirable metro areas, such as New York City, Washington D.C. and Boston. This upward trend hasn't left another coveted market behind, as luxury real estate in Santa Ynez, California, has also been experiencing increased sales and fetching higher prices.

According to Santa Ynez Uncorked, homes in the area have risen by nearly any metric. The average sales price for the second quarter of 2012 was 10.2 percent higher than it was during the same period a year ago.

Perhaps more promising, however, is the rising gap between listing price and selling price, which exemplifies growing demand for homes in the area, according to the source.

As property values have been improving in Santa Ynez, inventory has been dwindling. Since its height in 2008, the number of listed houses in the metro has been steadily declining, demonstrating that more people are looking for the luxury homes available in this esteemed and desirable area.

Historic vineyards and an established arts and dining scene might make Santa Ynez the perfect place for your next home.