2022 Q1 Report
Highlights from our Q1 report on the Commercial Real Estate Market in Santa Barbara County!
• Heavy commercial sales activity produced the highest volume on record for a first quarter, a continuation of unprecedented sales in 2021.
• The inventory of property for sale is at a five-year low; however, demand remains high and off-market sales are prevalent.
• Santa Barbara’s office market is still near peak supply, including an overextended inventory of large spaces.
• Goleta’s office vacancy is near the historical low, but most of the transactions to date were renewals, and much of the inventory is stagnant.
• State Street’s retail vacancy seems to be stuck in double digits, while the Funk Zone and Coast Village Road have very low availability. Read the full report by clicking here.