For Santa Barbara Real Estate’s Hope Ranch Real Estate area the Median Scales price for the 1st month of the year for Home and Estates/PUDs was $6,900,000 and for January 2006 it was $960,000. This is a 618.8% rise from year to year. Looking at the Median List price for 2007 it’s been $2,150,000 as compared to the 2006 Median List price of $2,950,000. This is a -27.1% decline year over year.
The gap between the current Median Sales price of $6,900,000 and the current Median List price for the entire inventory of $3,498,700 is $3,401,300. This means that the gap between the two prices is -97.2%.
The fact to keep in mind is that for the Hope Ranch Real Estate areas there was only 1 property sold so all the numbers are very volatile at this time. And the Average Days on the Market, which is the time from when the properties were listed and when they went into escrow for that 1 was 175 days. With the Days to Close or the escrow period being 57 which gives us a total Marketing Time of 227 days.
For Santa Barbara Real Estate’s Hope Ranch Real Estate area for the 1st month of the year for Condos there was no activity.