As far as sales are concerned for Santa Barbara condos in January we saw a 27.5% decrease in the number of sales from ’04. In February it was off slightly with 10.7% fewer sales. But in March we turned the corner and actually saw a 2.2% increase in the number of sales. For April the number of sales surged significantly up 43.3%. Then we cooled off in May posting exactly the same number of sales in ’04 as compared to ’05.
All during this time the Median Sales price continued to rise. In January it was up 15% in February up 16.8%. March was up 24.8%, April up 23.2% and May posted at 11.6% increase in Median Sales price to $675,000.
What’s Up with Listings in the Santa Barbara Condo Market from ’04 to ’05?
On the listing side of things January started off slowly with 28.9% fewer listings in ’04 as compared to ’05. But in February we saw a 50% increased followed by an even bigger 55% increase in March. April cooled off with a tiny 8% increase and finally May saw an 11.3% increase.
The Median Asking price for Santa Barbara condos has increased every month from ’04 to ’05. In January it was up 18.1%, in February up 25.5%, in March it was up 24.5%, in April up 15.4% and finally in May it was up 16% with a Median Asking price of $695,000 for a Santa Barbara condo.