For the Santa Barbara Real Estate areas of East of State St for Single Family Homes there were 16 that closed escrow in the last 30 days with a Median Sales Price of $1,230,000 and an Average Sales Price of $1,458,937. 28 properties came on the market with a Median Asking Price of $1,595,000 and an Average Asking Price of $1,552,785. 23 properties are currently in escrow with a Median Asking Price of $1,475,000 and an Average Asking Price of $1,779,013. Currently there are 101 Single Family Residents for sale in the area.
For the Santa Barbara Real Estate areas of East of State St for Condominiums there were 8 that closed escrow in the last 30 days with a Median Sales Price of $684,875 and an Average Sales Price of $892,000. 11 properties came on the market with a Median Asking Price of $949,000 and an Average Asking Price of $1,097,381. 9 properties are currently in escrow with a Median Asking Price of $799,500 and an Average Asking Price of $946,444. Currently there are 27 Condominiums for sale in the area.
And in more Santa Barbara Real Estate News….
William’s Levy whose company is attempting to develop timeshares on lower State St is said to owe at least $11.6 million to investors in the Santa Barbara Beach properties. This is the first look into what’s going on the development.
The audit, which was court ordered and carried out by Moss Adams Accounting firm analyzed annual tax returns, internal financial statements and general ledgers to arrive at its opinion.
The biggest issue seems to be that some transactions were not property accounted for under the methods prescribed in the Limited Partnership agreement for Santa Barbara Beach Properties L.P.
So the beat goes on for lower State St and the project is once again stalled.