Beautiful Santa Barbara Blog

Goleta North from 1/1/09 to 6/22/09 compared to ’08 for the same period for the Santa Barbara Real Estate area

The Condo market for the Goleta Real Estate North area of Santa Barbara the inventory is up by 13% to 67 but the number of escrows is way up by 63%. All of this activity has only given 16 sales this year however which is exactly the same number we had last year at this time. The same number of sales has yielded an average sales price which has fallen 24% down to the current approximately $415,000.

For Home Estates in the Santa Barbara Real Estate area of Goleta Real Estate North the numbers of listings are down by 24% but the numbers of escrows has fallen only 3%. Unfortunately this drop of 3% in pending listings has lead to a drop of 15% in the numbers of sales with the average sales price also slipping by 15% down to the current approximately $850,000.

The PUD market for the Santa Barbara Real Estate area of Goleta Real Estate North see the overall inventory down 2 with the numbers of escrows falling by 3. The good news is that even though the numbers of units and escrows have declined the numbers of sales is exactly where it was last year with 4 for both years. But even the sales are the same the average sales price is down by 34% to the currently approximately $540,000.

Goleta South from 1/1/09 to 6/22/09 compared to ’08 for the same period for Santa Barbara Real Estate area

The Condo market for the Goleta Real Estate South area of Santa Barbara the numbers of properties available is down by 26% but the numbers of escrows is up by 22%. But with the escrows up the sales have fallen by 15%. The average sales price of about $450,000 is down by 21% from where it was last year at this time.

For Home Estates in the Santa Barbara Real Estate area of Goleta Real Estate South the inventory is down by 16% from where it was last year at this time but the numbers of escrow is up by 6%. Even with the escrows more prevalent the sales have fallen by 7% from the ’08 level with the average sales price down by 8% to the current level of about $850,000.

The PUD market for the Santa Barbara Real Estate area of Goleta Real Estate South has the inventory is exactly where it was last year at this time but the numbers of escrows have doubled from 2 in ’08 to 4 in ’09. The numbers of sales is also up from 3 last year to 4 this year and to complete the trifecta the average sales price has gone up from $800,000 to $862,500 for a 7% rise.

Hope Ranch from 1/1/09 to 6/22/09 compared to ’09 for the same period for

The Condo market for the Hope Ranch Real Estate area of Santa Barbara real estate saw no activity.

For Home Estates in the Santa Barbara Real Estate area of Hope Ranch Real Estate overall inventory is about 30% ahead of where it was last year but all that activity has given us only 12% more properties that entered escrow with the numbers of sales falling by 33%. With the numbers of sales down by 33% the average sales price has fallen 17% and currently resides at about $2.7 million.

The PUD market for the Santa Barbara Real Estate area of Hope Ranch Real Estate there were no listings last year and just 1 this year. The good news is that 1 is now in escrow but has not closed yet.

West of State St from 1/1/09 to 6/22/09 compared to ’08 for the Santa Barbara Real Estate area

The Condo market for the West of State St area of Santa Santa Barbara Real Estate the overall numbers of properties available is down by 8% for the year but the numbers of escrows is up by 53%. Unfortunately the numbers is sales has fallen this year by 8%. If even half of those escrows start to close the ’09 numbers will be ahead of ’08. The average sales price has slid down by 7% and currently stands at about $627,000.

For Home Estates in the Santa Barbara Real Estate area of West of State the total homes that have been on the market in ’09 are down by 44% but the numbers of escrows has risen by 18%. With that many more escrows open we are only 2 sales or 2% ahead of where we were last year at this time. What has fallen dramatically is the average sales price which is down by 27% currently standing at $854,004.

The PUD market for the Santa Barbara Real Estate area of West of State St there were 7 listings last year at this time and currently there have been 3. Of those 7, 6 went into escrow last year and so far none have started the buying process this year. With 6 entering escrow in ’08 only 2 had closed by this time and so far in ’09 none have completed the buying process. Last year the average sales price for a PUD was about $780,000.

East of State St from 1/1/09 to 6/22/09 compared to ’08 for the Santa Barbara Real Estate area

For Condos in the Santa Barbara Real Estate area of East of State the total numbers of properties for sale this year is up by 4% with the total numbers of escrow up by 21%. The numbers of sales is slightly farther down but is still ahead of the ’08 pace by 16%. But to achieve those sales and escrow numbers the average sales price has fallen by 28% to the current approximately $600,000 range.

The Home Estate market for the East of State St area of Santa Barbara Real Estate the total numbers of listings is down by 2% but the numbers of escrows is up by 12%. This increase in escrows has not given way to an increase in sales which are currently down by about 10%. The average sales price has also dipped and is off by 13% from ’08 currently residing at about $1.1 million.

For the PUD market on the East Side of Santa Barbara Real Estate there were only 9 active listings last year and this year has given us only 3. There were only 2 escrows opened in ’08 which is 2 more than have been opened in ’09. There was only 1 sale last year and 0 for ’09 and that 1 sale was for $750,000.

Montecito from Jan. 1 through June 22 comparing ’08 to ’09 for the Santa Barbara Real Estate area

In the Montecito Real Estate area of Santa Barbara Real Estate for the Condo Market the total numbers of properties available through June 22nd is up by 2 for a total of 42. But the numbers that went into escrow has fallen from 8 in ’08 to just 1 in ’09. Also the Sales have fallen from 9 last year to just 1 this year with the average sales price going from $1,869,050 in ’08 to just $679,000 for the one sale this year.

In the Single Family Home market for the Santa Barbara Real Estate area of Montecito Real Estate the total number of listings is up by 23% for a total of 400 homes that have been available for purchase this year. But with the surge of listings the escrows are down by 29% with the numbers of sales even farther down by 42%. The average sales price has also fallen dramatically from about $4.9 million last year to just over $3 million this year.

For the PUD market in Montecito Real Estate there have been just 3 listings this year which is exactly the same number we saw last year. For ’08 we saw 1 escrow compared to none this year and 1 sale compared to none this year. The average sales price last year was about $2.5 million.

1/1/09 to 6/22 ‘09 compared to ’08 for the same period in Carpinteria/Summerland area of Santa Barbara Real Estate

For the Santa Barbara area of Carpinteria Real Estate/Summerland Real Estate
for the condo market through June 22nd there have been about 38% fewer active listings compared to last year. A substantial portion of those missing listings are due to one new development that came on the market and there has been no similar developments appear this year. But even though there are fewer listings to sell the numbers of sales is up by 20% for the year. Unfortunately with the numbers of sales up the average sales price is down by about 20% to the current approximately $400,000 level.

For Home Estates in Carpinteria Real Estate/Summerland Real Estate
the total numbers of listings through June 22nd is up from ’08 by 22% with the escrows rising by 44% for the year. But despite this surge in activity the numbers of sales remains down by 3% with the average sales price sliding down by 26% to the current $1.75 million mark.

For PUDs in the Carpinteria Real Estate/Summerland Real Estate
through June22nd there have been only 2 listings compared to 4 last year. But the number of properties going into escrow is exactly the same at 1 for each year. The sales are also the same with 1 for both ’08 and ’09 but the sales price last year was $745,000 compared to $591,000 this year.

Santa Barbara Real Estate for Goleta North and the Gap between Median Sales and Median List Prices for 1/1/2009 to 6/12/2009

For Santa Barbara Real Estate’s Goleta Real Estate North for the Home Estate/PUD market there have been 61 sales this year compared to 67 last year for a 9% drop. The median sales price has declined at a slightly greater rate. The median sales price was $800,000 last year and it currently $710,000 for an 11.3% drop.

The gap is a lot wider however. This year the median list price is $1.349 million and when combined with the $710,000 giving us a -47.4% gap and last year there was a $929,000 median list price with a $800,000 median sales price for a -13.9% gap.

For the Goleta Real Estate North condo market there have been 15 sales compared to last year when there were 14. This puts the sales 7.1% ahead of where it was last year. The median sales price however has fallen from $500,000 last year down to $380,100 this year for a 24% drop. The however is another story altogether. Last year there was a median list price of $499,000 with a median sold price of $500,000 for a +0.2% gap and this year the median list price is $439,000 combined with the median sold price of $380,100 gives us a -13.4% gap.

Santa Barbara Real Estate for Goleta South and the Gap between Median Sales and Median List Prices for 1/1/2009 to 6/12/2009

For Santa Barbara Real Estate’s Goleta Real Estate South area for the Home Estate/PUD there have been 35 sales and last year at this time there were 35 sales. What’s different is the median sales price which has fallen about 10% from $780,000 last year to $700,000 this year.

The gap has also widened dramatically this year where we see a $1.2 million median list price to go with the $700,000 median sales price for a -43.1% gap and last year there was a $799,999 median list price to go with the $780,000 median sold price for a time -2.5% gap.

For the condo market in Goleta Real Estate South the numbers are a mess. There have been 23 sales compared to 30 last year at this time for a 23.3% drop. These two numbers continue to get closer together the farther we get in the year. The median sales price however has gone down from $607,000 last year to below $400,000 this year for a 34.9% drop.

The gap however shows a huge shift. This year the median list price is $523,000 and with a median sales price of $395,000 that gives us a -24.5% compared to last year then the median list price was $529,500 combined with a median sales price of $607,000 gave us a +14.6% gap.

Hope Ranch and the Gap between Median Sales and Median List Prices for 1/1/2009 to 6/12/2009 for Santa Barbara Real Estate

For Santa Barbara Real EstateHope Ranch Real Estatearea for the Home Estate/PUD market there have been 6 sales compared to 9 last year for a 33.3% drop. But the median sales numbers are a lot closer together. Last year the median sales price was $2.525 million and this year it’s $2.365 million for a 6.3% drop.

The gap this year is a lot farther apart however. Last year the median list price was $2.65 million with a median sold price of $2.525 million giving us a miniscule -4.7% and this year the median list price is farther up at $3.295 million with a median list price of $2.365 million for a -28.2% gap.

For Santa Barbara Real Estate’s Hope Ranch Real Estate area for the period of Jan.1 through April 15 for Condos there was no activity.

West of State St Gap between Median Sales and Median List Prices for 1/1/2009 to 6/12/2009 for Santa Barbara Real Estate

For the Santa Barbara Real Estate area of West of State St area for the Home Estate/PUD market there have been 62 sales this year compared to 65 last year. This is a drop of about 5%. But last year the median sales price was $1 million and this year it’s $776,050 for a drop of 22.4%.

Looking at the gap figures we see that for ’09 the median list price is $1.14 million with a median sales price of $776,050 giving us a -31.9% gap and last year the median list price was $995,000 with a median sold price of $1 million giving us a positive gap of +0.5%.

For the Santa Barbara Real Estate West Side condo market there have been 20 sales this year compared to 22 last year which gives us a drop of only 5.3%. The median sales figures are also pretty darn close together with last year showing us a $546,250 median and this year giving us a $517,500. All this gives us a drop of about 9.1% in the median sales figures.

East of State St area of Santa Barbara Real Estate for 1/1/2009 to 6/12/2009 and the Gap between Median Sales and Median List Prices

For Santa Barbara Real Estate area East of State St area for the Home Estate/PUD market there have been 68 completed sales which is exactly what we had last year at this time. The difference is the median sales price last year was about $1.1 million and this year it’s $910,000 for a 26% drop.

The gap for both years is about the same with a median list price of about $1.5 million last year and a median sold price of about $1.1 million giving us a -27.5% gap and this year a median list price of $1.35 million and a median sold price of $910,000 giving us a -32.6% gap.

On the condo side of the ledger for the East Side of Santa Barbara Real Estate there have been 23 sales and last year there were 23 sales. Again the difference is in the median sales price for both years. Last year the median sales price was just below $700,000 and this year it’s $517,000 for a 26% decline.

There’s also a big switch in the gap with last year’s median list price of $675,000 and median sold price actually yielding a gap of +3.6% and this year a median list price of $699,000 and a median sold price of $517,000 giving us a -26% gap.

Montecito Gap Report for 1/1/09 to 6/12/09 for Santa Barbara Real Estate

For Santa Barbara Real Montecito Real Estate area for the Home Estate/PUD market the sales figures for ’09 44 vs. 76 for the same period in ’08. This is a decline of about 40% which is actually closer than it’s been all year. The median sales price is also inching closer together standing currently at $2.3 million compared to $3.7 million last year for a decline of about 38%.

What isn’t shrinking this year is the gap between median sales price and median list price. Right now that gap is -41% with a median list price of $3.9 million and a median sold price of $2.3 million. Whereas last year the gape was a miniscule -1.3% with a median list price of $3.75 million and a median sold price of $3.7 million.

For the condo market in Montecito Real Estate there’s only been 1 sale for $679,000 this year compared to last year when there were 9 sales with a median sales price of about $1.6 million. So if you’re keeping score that’s a drop of almost 90% in sales and 57% in the median sales price.

The gap is equally as cavernous with the median list price this year at $1.6 million and the sale at $679,000 giving us almost a -60% gap. Compared to last year when there was a $1.75 million gap and a $1.6 million sales figure giving us about a -10% gap.

Carpinteria/Summerland Gap Report between Median Sales and Median List Prices for Santa Barbara Real Estate for 1/1/2009 to 6/12/2009

For Santa Barbara Real’s Carpinteria Real Estate/Summerland Real Estate for the Home Estate/PUD market the median sales price through June 12 of ’09 is $634,000 which is down from $990,562 for the same period in ’08. This is a 36% drop in price. The numbers of sales however are exactly where they were at this time last year with 20 reporting for both periods.

The difference between the median list price for ’09 of about $1.3 million and the median sales price of $634,000 is a rather cavernous -51%. The gap exist primarily because the houses that have been listed in the $600,000 range are now out of the inventory and sold and the homes that remain are the ones farther up on the price scale. Last year the gap for Home Estate was -23.7% with the $1.3 million median list price but the median sold price closer to $1 million.

For the Carpinteria Real Estate/Summerland Real Estate condo market the numbers of sales is actually above where it was last year with 17 compared to 14 last year. This is a 21.4% rise in the numbers of sales. The median sale price however has fallen by about 22% and currently resides right at $400,000 compared to $512,500 last year.

The gap between median list price and median sold price for ’09 is -30.4% with a median list price of $575,000 compared to the median sold price of $400,000. Whereas last year the gap was -18.3% with a median list price of $627,000 and a median sold price of $512,500.