Beautiful Santa Barbara Blog

Santa Barbara Real Estate area of Goleta North for the Last 30 Days from April 10 to May 10 2012

For Goleta Real Estate North in the Santa Barbara Real estate area for Home Estate/PUDs market for the period of April 10 to May 10 there were 30 sales this year with a median sales price of $598,200 and an average sales price of $730,376. Last year there were 9 sales with a median sales price of $760,000 and an average sales price of $799,263. There were 31 escrows opened this year with a median list price of $629,000 and last year there were 13 escrows opened with a median list price of $625,000. Right now there are 44 Home Estate/PUDs available for purchase in Goleta North with a median list price of $889,000 and an average list price of $1,617,268.

For the condo market in Goleta Real Estate North for the same period there were 5 sales this year with a $275,000 median & and average sales price of $328,200 compared to 2 sales last year with a median sales price of $325,850 and an average sales price of $325,850. This year there were 6 opened escrows with a $324,000 median list price and last year there were 5 escrows opened with a median list price of $350,000. Right now there are 14 condos available for purchase in Goleta North with a median list price of about $354,000 and an average list price of $372,842.

Goleta South for April 10 to May 10 2012 for the Santa Barbara Real Estate area

In the Santa Barbara Real Estate are of Goleta Real Estate South for the Home Estate/PUD market from April 10 to May 10 there were 13 sales this year with a median sold price of $599,000 and an average sales price of $623,153. Last year there were 5 sales with a median sales price of $510,000 and an average sales price of $558,500. This year there were 22 escrows opened with a median list price of $609,450 and last year there were 10 escrows opened with a median list price of $574,000. Right now there are 19 Home Estate/PUDs available for purchase in Goleta South with a median list price of $1,135,000 and an average list price of $1,856,263.

For the condo market in Goleta Real Estate South for the same period there were 6 sales this year with a median sales price of $277,450 and an average sales price of $282,266. Last year there were 2 sales with a median sales price of $546,450 and average sales price of $546,450. This year 10 escrows were opened with a median list price of $339,500 and last year 5 escrows were opened with a median list price of $449,000. Right now there are 8 condos available for purchase with a median list price of $194,950 and an average list price of $224,975.

Hope Ranch from April 10 to May 10 2012 for the Santa Barbara Real Estate area

For the Santa Barbara Real Estate area of Hope Ranch Real Estate for the period of April 10 to May 10 there were no sales compared to 3 last year. Those 3 last year had a median sales price of $2.1 million and an average sales price of $2.591 million. There were 3 escrows opened this year with list price of $2.495 million and last year there were 4 opened escrows with a $1.975 million median list price. Right now there are 19 Home Estate/PUDs available for purchase in Hope Ranch with a median list price of $3.595 million and an average list price of $6.732 million.

For the Santa Barbara Real Estate areas of Hope Ranch Real Estate for Condominiums there was no activity.

West of State St area of Santa Barbara Real Estate for the last 30 days from April 10 to May 10 2012

For the Santa Barbara Real Estate area of West of State St for Home Estate/PUDs for the period of April 10 to May 10 there were 22 sales with a median sales price of $765,000 and an average sales price of $768,392. Last year there were 12 sales with a median sales price of $528,250 and an average sales price of about $650,541. For the same time period there were 38 opened escrows this year with a median list price of $687,000 and last year there were 17 opened escrows with a median list price of $640,000. Right now there are 62 Home Estate/PUDs available for purchase on the West Side of Santa Barbara with a median list price of $881,500 and an average list price of $1.146 million.

For the condo market for the same time period on the West Side of Santa Barbara Real Estate there were 5 sales this year with a median sold price of $330,000 and an average sales price of about $348,980. Last year there were 2 sales with a median sales price of $644,200 and an average sales price of $644,200. This year 8 escrows opened with a median list price of $349,450 and last year there was 9 escrows opened with a median list price of $429,000. Right now there are 21 condos available for purchase on the West Side of Santa Barbara with a median list price of $565,000 and an average list price of $674,742.

Santa Barbara Real Estate area of East of State St from for the last 30 days from April 10 to May 10 2012

For Santa Barbara Real Estate East of State St for Home Estate/PUDs there were 23 sales from April 10 to May 10 with a median sold price of $799,000 and an average sold price of $909,667. Last year there were 15 sales with a median sold price of $1,145,000 and an average sold price of $1,060,029. During that same time period there have been 28 opened escrows with a median list price of $995,000 and last year there were 30 escrows opened with a median list price of $974,000. Right now there are 91 Home Estate/PUDs available for purchase on the East Side of Santa Barbara with a median list price of $1.329 million and an average list price of $1.738 million.

For the Condo Market on the East of State side of town for Santa Barbara Real Estate this year there have been 8 sale this year compared to 2 last year. The median sales price on those 8 this year is $622,500 and the average sales price is $578,050. Last year there were 2 sales with a median sales price of $564,750 and average sales price of $564,750. This year 16 escrows were opened this year with a median list price of $610,000 and last year there was 5 opened escrows with a median list price of $545,000. Right now there are 39 condos available for purchase on the East Side of Santa Barbara with a median list price of $645,000 and an average list price of $748,997.

Montecito Real Estate for the last 30 days from April 10 to May 10 2012 for the Santa Barbara Real Estate area

Santa Barbara Real Estate’s area of Montecito Real Estate for the Home Estate/PUD market there were 19 sales from April 10 to May 10 compared to 16 last year and the median sales price went down from $2.3 million last year to $1.95 million this year but the average sales price went up from $2.296 million last year to $3.296 million this year. This year there have been 31 escrows opened with a median list price of $2.5 million and last year there were also 20 escrows opened with a median list price of about $2.572 million. Right now there are 152 Home Estate/PUDs available for purchase in Montecito with a median list price of $3.497 million and an average list price of $5.5878 million.

For the Condo market in Montecito Real Estate This year there were 3 sales with a $920,000 median sales price and an $840,000 average sales price for the same period last year there was 0 sales. There were 4 escrows opened this year with a $1,547,000 list price and last year there were 2 escrows opened with a $2 million median list price. Right now there are 10 condos available for purchase in Montecito with a median list price of $937,500 and an average list price of $1.085 million.

Apr. 10 to May 10 ‘12 for Carpinteria/Summerland Real Estate for Santa Barbara Real Estate

For the Santa Barbara Real Estate an area of Carpinteria Real Estate/Summerland Real Estate for Home Estates and PUDs for the 30 day period from April 10 to May 10 ‘12 there were 6 sales this year compared to 12 last year and the median sales price was up on those 6 to $2,097,500 and last year the median sales price on the 12 was $680,000. The average sales price was also up from $1,101,833 last year to $2,660,000 this year. There were 11 opened escrows this year with a median list price of $719,000 compared to 13 last year with a median list price of $749,000. Right now there are 39 Home Estate/PUDs available for purchase in Carpinteria/Summerland with a median list price of $1,749,000 and an average list price of about $3.784 million.

For Carpinteria Real Estate/Summerland Real Estate area for the condo market for the same period there were 3 sales this year compared to 6 last year and the median sales price went down from $333,500 to $204,300. The average sales price also went down from $333,560 to $254,833. This year there were 5 escrows opened with a median list price of $319,000 and last year there were 3 escrows opened with a median list price of $565,000. Right now there are 14 condos for sales in Carpinteria/Summerland with a median list price of $479,000 and an average list price of $604,531.

Goleta North for the first 4 Months of ’12 for Santa Barbara Real Estate

For the Santa Barbara Real Estate area of Goleta Real Estate North for the first 4 months of ‘12 for the Home Estate/PUD market there have been 69 sales compared to 53 last year and the median sales price has dipped from $699,000 last year to $605,000 this year. The average sales price has also fallen from $873,400 last year to about $718,330 this year. The numbers of escrows have gone up from 53 in ’11 to 90 in ’12 and the median list price on those escrows has fallen from $679,000 last year to $608,150 this year. The sales price to original list price ratio has gone up from 88% last year to 93% this year. Right now in Goleta North there are 46 Home Estate/PUDs available for purchase with a median list price of about $837,000 and an average list price of $1,360,815.

For the Santa Barbara Real Estate area of Goleta Real Estate North for the first four months of ’12 in the Condo market there have 14 sales compared to 9 last year but the median sales price has dipped from $375,000 last year to about $333,750 this year. The average sales price has also gone down from $418,333 in ’11 to $317,150 in ’12. The sales price to original list price has gone down from 91% in ’11 to 84% in ’12. Currently there are 15 condos available for purchase in the Goleta South area with a median list price of $359,000 and an average list price of about $377,466.

Goleta South for the first 4 Months of ’12 for Santa Barbara Real Estate

For the Santa Barbara Real Estate area of Goleta Real Estate South for the first 4 months of ‘12 for the Home Estate/PUD market there have been 34 sales compared to 17 last year and the median sales price has dipped from $605,000 last year to $540,000 this year. The average sales price has also fallen from $658,470 last year to about $600,000 this year. The numbers of escrows have gone up from 26 in ’11 to 52 in ’12 and the median list price on those escrows has risen a little from $575,000 last year to $579,000 this year. The sales price to original list price ratio has gone up a little from 92% last year to 95% this year. Right now in Goleta South there are 20 Home Estate/PUDs available for purchase with a median list price of about $1,077,000 and an average list price of $1,790,873.

For the Santa Barbara Real Estate area of Goleta Real Estate South for the first four months of ’12 in the Condo market there have 16 sales compared to 15 last year but the median sales price has dipped from $369,000 last year to about $248,500 this year. The average sales price has also gone from $386,396 in ’11 to $267,468 in ’12. The sales price to original list price has gone down from 92% in ’11 to 91% in ’12. Currently there are 11 condos available for purchase in the Goleta South area with a median list price of $234,300 and an average list price of about $270,736.

Hope Ranch for the first 4 Months of ’12 for Santa Barbara Real Estate

For the Santa Barbara Real Estate area of Hope Ranch Real Estate for the first 4 months of ’12 for the Home Estate/PUD market there have been 6 sales compared to 6 last year and the median sales price has gone up from $1.787 million last year to $1,820,000 this year. The average sales price has also gone down from $2,770,833 last year to $1.875 million this year. The numbers of escrows is down from 10 in ’11 to 6 in ’12 with the median list price on those escrows actually declining from $1.947 million to $2.295 million. The sales price to original list price ratio has fallen slightly from 80% last year to 79% this year and right now in Hope Ranch there are 19 Home Estate/PUDs available for purchase with a median list price of $3.595 million and an average list price of $6.753 million.

For the Santa Barbara Real Estate area of Hope Ranch Real Estate for the first four months of ’11 in the Condo market there was and has been no activity.

West of State St for the first 4 Months of ’12 for Santa Barbara Real Estate

For the Santa Barbara Real Estate area of West of State St for the first 4 months of ’12 for Home Estate/PUDs there have been 57 sales compared to 53 last year and the median sales price has gone up from $682,000 last year to $749,000 this year. The average sales price has gone down however from $870,864 last year to $799,854 this year. The sales price to original list price ratio has gone up from 90% last year to 93% this year. Right now there are 63 homes available for purchase on the West Side of Santa Barbara with a median list price of $899,000 and an average sales price of just under $1,160,390

For the Santa Barbara Real Estate Real Estate area of West of State St for the first four months of ’12 for the condo market there have been 25 sales compared to 13 last year and the median sales price has fallen from $425,000 to $400,000. The average sales price has also gone down from $606,184 in ’11 to $408,080 in ’12 the sales price to original list price ratio has basically remained the same going from 92.75% last year to 93.26% this year. Right now there are just 21 condos available for purchase on the West Side of Santa Barbara with a median list price of $565,000 and an average list price of $674,509.

East of State St for the first 4 Months of ‘12 for Santa Barbara Real Estate

For Santa Barbara Real Estate area of East of State St for the first 4 months for Home Estate/PUDs for ’12 there have been 89 sales compared to 57 last year but the median sales price has come down from $950,000 last year to $854,000 this year. The average sales price also fell a little with $1.055 million in ‘11 compared to $854,000 in ‘12. The numbers of escrows is also up from 78 last year to 107 this year with the median list price of those escrows down from $977,500 last year compared to $895,000 this year. The sales price to original list price ratio has come up slightly from 89% last year to 91% this year. Right now there are 84 Home Estate/PUDs available for purchase on the East Side of Santa Barbara with a median list price of $1.277 million and an average list price of more than $1.811 million.

For the Santa Barbara Real Estate area of East of State St for the first four months of ‘12 in the condo market there have been 29 sales compared to 11 last year but the median sales price has risen from $430,000 in ’11 to $599,000 in ‘12. The average sales price is also up rising from $510,227 last year to $589,347 this year. The numbers of escrows shows up at 61 this year compared to 12 last year. But the median list price on those escrows has gone down from $601,000 last year to $599,000 this year. The sales price to original list price ratio has gone down from 91% last year to 90% this year. Right now there are 35 condos available for purchase on the East Side of Santa Barbara with a median list price of $645,000 and an average sales price of just under $706,340.

Santa Barbara Real Estate through the end of April ‘12 for Montecito, Hope Ranch, Santa Barbara, Goleta, Carpinteria and Summerland

This is an analysis of the Santa Barbara Real Estate market including Carpinteria Real Estate/Summerland Real Estate, Montecito Real Estate,Hope Ranch Real Estate, downtown Santa Barbara and Goleta Real Estate through the month of April 2012. For the Home Estate/PUD market April marked the second month in a row that sales were at or above 100. The median sales price fell however from $835,000 in March to about $760,000 in April. The reason for the decline in that median sales price is that 70 of the 100 sales were below $1,000,000 with 43 of those sales coming in between $450,000 and $800,000. There were about 20 sales between $1 and $2 million but of those sales 10 were below $1.4 million. The above $2 million range accounted for 10 of those 100 sales with 2 of those 10 coming in above $5 million.

Escrows continued to surge in April with about 145 Home Estate/PUDs starting the buying process. But, just like with sales, the median list price on those escrows slid from $816,750 in March to $789,000 in April. With the inventory way down and a substantial number of sales drawing multiple offers I would expect prices to start rising but at this point that phenomenon has not occurred.

Comparing the first 4 months of 2011 with the same period in 2012, sales are still up about 35% with escrows up about 45%. The median & average sales prices are down however, falling about 3% with the inventory down about 25%. Year over year the Sales Price to Original Price ratio is right at 87% for both years and the days on the market of sold properties continues right around 75.

Looking at the Districts, Carpinteria/Summerland sales are up from 22 to 27 and the median sales price is up from $617,500 to $737,500. The numbers of escrows are also up going from 27 to 32 with the median list price on those escrows rising from $737,000 last year to $849,000 this year.

For Montecito, sales are up going from 45 to 64 with the median sales price dropping from $2.25 million last year to $1.824 million. Escrows are also up going from 64 to 89 but the median list price on those escrows is down from $2.617 million to $2.19 million.

East of State St sales are up going from 62 in ’11 to 95 in ‘12 but the median sales price is down from $950,000 to $849,500. The escrows are also up going from 84 to 115 with the median list price on those escrows dropping from $977,500 last year to $887,000 this year.

West of State St sales are up from 57 to 61 and the median sales price is up from $682,000 to $749,000. The numbers of escrows are also up with 62 in ’11 compared to 91 in ‘12 but the median list price on those escrows is down from $739,000 last year to $699,900 this year.

Hope Ranch sales are down from 7 to 6 but the median sales price is up from $1.787 million to $1.82 million. The numbers of escrows are also down with 11 last year compared to 6 this year. But, the median list price on those escrows is up from $1.947 million in ’11 to $2.295 million in ‘12.

Goleta South sales are up with 16 last year and 35 this year but the median sales price is down from $605,000 to $540,000. The numbers of escrows are also up from 25 to 53 with the median list price on those escrows rising from $575,000 to $579,000.

Goleta North sales are up with 52 in ’11 and 66 in ’12 with the median sales price dropping from $699,000 to $612,500. The numbers of escrows are also up from 50 to 82 with the median list price on those escrows falling from $679,000 to $614,900.

For the Condo segment of the market, after the 41 sales in the month of March we came back to earth in April with 28 closed escrows. The median sales price also slid a bit dropping from $406,000 in March to $400,000 in April and the numbers of escrows fell from 52 to 44 for the month. The median list price on those escrows also dropped going from $409,990 in March to $389,000 in April. With the overall inventory remaining down at around 100 available condos from Carpinteria to Goleta and all the escrows and sales with multiple offers I would expect prices to start edging up but so far that is not the case.

Looking at the Year over Year numbers, condo sales are up about 45% and escrows are up 95%. The median sales price is up minutely by .2% with the average sales price down approximately 9%. But, the median list price on condos in escrows is up 3%. The Sales Price to Original List Price ratio is down slightly however from 90% to 89% and the Days on the Market for sold properties has risen a bit from 80 to 82.

Looking at the Districts, Carpinteria/Summerland sales are down from 19 to 11 with the median sales price falling from $350,000 to $330,000. The numbers of escrows are also down from 22 last year to 17 this year and the median list price on those escrows is down from $359,900 to $354,500.

Montecito condo sales are up with 5 in ’11 and 6 in ‘12 with the median sales price also up from $645,000 to $1,027,500.The numbers of escrows are up with 5 in ’11 and 10 in ‘12 while the median list price on those escrows is up from $1,195,000 in ’11 to $1,222,500 in ‘12.

East of State St sales are up from 11 to 30 with the median sales price rising from $420,000 to $465,040. The numbers of escrows are also up going from 12 to 61 with the median list price on those escrows falling from $601,000 last year to $599,000 this year.

West of State St sales are up from 13 to 25 with the median sales price falling from $425,000 to $400,000. The escrows are up from 22 to 35 with the median list price on those escrows falling from $424,500 to $350,050.

Goleta South sales are down from 18 to 17 with the median sales price also down from $369,000 to $258,000. The numbers of escrows are up however with 19 in ’11 and 25 in ‘12 but the median list price on those escrows is down from $375,950 last year to $264,900 this year.

Goleta North sales are up from 9 to 14 with the median sales price down from $375,000 to $333,750. The escrows are also up from 12 to 25 with the median list price on those escrows falling from $379,000 to $365,500.

Starting quarter two, sales and escrows remain strong for both Single Family Dwellings and Condos and inventories remain low with about 400 Homes and 100 Condos currently on the market. Despite a substantial number of multiple offers occurring for both condos and homes very few of those offers have been for over the asking price. In fact, the median sales price for both segments continues to increment down. At some point, if the inventories remain low and demand continues high I would think the basic law of supply and demand would kick in but at this point that is not the case.

Gary Woods

Montecito Real Estate for the first 4 Months of ’12 for Santa Barbara Real Estate

For the Santa Barbara Real Estate area of Montecito Real Estate for the first 4 months of ’12 there have been 53 sales compared to 41 last year but the median sales price has gone down from $2.25 million last year to $1.824 million this year. The average sales price is drastically different this year with a $3.389 million mark compared to last year when it was $2.857 million. The numbers of pending properties is way up with 78 open escrows this year compared to 56 last year but the median list price of those escrows is down slightly from about $2.617 million last year to $2.092 million this year. The sales price to original list price ratio is down from 85% last year to 82% this year and right now there are 155 Home Estate/PUDs on the market in Montecito with a median list price of $3.495 million and an average list price of just under $5.612 million.

For the Santa Barbara Real Estate area of Montecito Real Estate for the first four months for the condo market there have been 6 sales compared to 3 last year. The median sales price this year is $1,027,500 while the average sales price is $970,816. Last year those 3 sales had a $645,000 median sales price with a $688,333 average. This year there have been 8 opened escrows with a median list price of $1,222,500 compared to last year when there were 3 escrows with a median list price of $1,195,000. The sales price to original list price went from 72% last year to 78% this year and currently there are 11 condos on sales in Montecito with a median list price of about $999,000 and an average list price of $1.307 million.

Carpinteria/Summerland for the first 4 Months of ’12 for Santa Barbara Real Estate

For the Santa Barbara Real Estate area of Carpinteria Real Estate/Summerland Real Estate for Home Estate/PUDS for the first 4 months of ’12 there have been 26 sales compared to 22 last year and the median sales price has gone up from $617,500 to $737,500. The average sales price has also gone up from $908,404 to $1,017,485. The sales have risen and the properties going into escrow are also up rising from 26 in ’11 to 32 in ’12 and interestingly enough the median list price on those escrows has also gone up from ’11 when it was $737,000 to about $970,000 this year and the sales price to original list price ratio has also gone up a bit from 85% in ’11 to 86% this year. Currently there are 37 Home Estate/PUDs available for purchase in Carpinteria/Summerland with a median list price of about $1.825 million and an average list price of approximately $4 million.

For the Santa Barbara Real Estate area of Carpinteria Real Estate/Summerland Real Estate for the first four months of the condo market there have been 11 sales compared to 19 last year and the median sales price has fallen from about $350,000 last year to about $330,000 this year and the average sales price has also gone down from about $495,000 last year to $340,000 this year. The numbers of escrows is also down falling from 21 in ’10 with a median list price of about $359,900 to 16 this year with a median list price of $354,500. The sales price to original list price is very good this year in the 93rd percentile while last year it was up coming in at 91%. Right now there are 13 condos on the market in Carpinteria/Summerland with a median list price of $439,000 and an average list price of about $585,000.

Goleta North 1/1/12 to 4/25/12 compared to last year for Days on the Market

For Home Estate PUDs in the Goleta Real Estate North area of Santa Barbara Real Estate for the period of 1/1/11 to 4/25/12 there have been 63 sales compared to 52 last year. The median sales price went down from $692,000 last year to $615,000 this year and the average sales price is down from $875,581 to $713,402. Those 63 sales took on average 64 days to get an accepted offer and when you add in another 60 days of escrow time you get an average total marketing time of 124 days.

For Goleta Real Estate North condos there have been 12 compared to 9 last year. The median sales price has gone down however from $375,000 to $333,750. The average sales price is also down from $418,333 to $323,675 Those 12 sales took on average 45 days to get an accepted offer and when you add in another 43 days of escrow time you get an average total marketing time of 88 days.