Best Santa Barbara Schools   X   Median Home Prices

Best Santa Barbara Schools X Median Home Prices

Santa Barbara Schools (credit: torbakhopper, Flickr)

Santa Barbara Schools (credit: torbakhopper, Flickr)

Background

I wrote about this topic at the beginning of the year (see THIS article), and it's time to revisit.

School attendance area may be the single biggest factor in the Santa Barbara housing market.  That's saying something for a town with world-class views of the mountains and ocean, and with a vibrant restaurant and retail industry.

A plain home without a view located in a top-notch school attendance area can easily be more valued than a nicer home with a view in a less-desirable school attendance area.

Methodology

Ranking schools is always a subjective exercise, so for these purposes I'll rely on two third-party opinions: Greatschools.org and School-rating.com.  Not perfect, but good enough for these discussions.

Greatschools.org uses the tried and true "1 to 10" rating.  School-rating.com uses that same approach, but supplements with each school's API (read more about API HERE...admittedly it's outdated by a couple years, but there is not a suitable replacement yet).

Impact on Home Prices

I researched median home prices of sales in the past year for each attendance area.  Keep in mind that we are only looking at Single Family Residences.  PUD's and condos are excluded from this exercise.

Additionally, I tallied the number of homes sold in each district.  A larger number of sales could mean that the attendance area is larger than average, or that there just happened to be a lot of turnover this year.  Mainly, however, I wanted to see how large our data set was.  The engineer in me likes to work with statistically significant sample sizes (say that five times fast!).

Cutting to the Chase

Take everything I've discussed above, throw it into a blender, and you get the following (blurry) table.  It's simple, but gives you a good idea of what it costs to live in these sought-after areas.

Schools are sorted by median price (high to low).  The ratings from the two websites are all excellent, so price is what really separates them.

Santa Barbara School Ratings and Associated Median Home Prices for 2016

Santa Barbara School Ratings and Associated Median Home Prices for 2016

Where Are These Schools Located?

Funny you should ask...I made this handy map just for you!

There You Have It

Santa Barbara real estate is outright expensive, and even more so if you want to be in a premiere school attendance area.  This data isn't just for families though.  

Buyers looking to make a strong investment can count on these areas to retain more resale value than areas with less-desirable schools.

In addition, empty-nesters or buyers without children can look to avoid these areas if they'd prefer not to pay a premium based on attendance area.

Regardless of your personal preference, it's always beneficial to be aware of local market factors before you buy.  Hopefully this research can help you with your house shopping!

Cheers! - Devin

devin@devinwong.realtor   //   (805) 451-6157   //   www.devinwong.realtor

Career Change: One Year Later

Career Change: One Year Later

3375 Foothill Rd. #911, Carpinteria, CA 93013

3375 Foothill Rd. #911, Carpinteria, CA 93013