For Santa Barbara Real Estate’s Goleta Real Estate North area the Median Scales price for the 1st month of the year for Home and Estates/PUDs was $825,000 and for January 2006 it was $967,500. This is a -15.5% decline from year to year. Looking at the Median List price for 2007 it’s been $1,150,000 as compared to the 2006 Median List price of $985,000. This is a -0.4% decline year over year.
The gap between the current Median Sales price of $825,000 and the current Median List price for the entire inventory of $1,175,000 is $350,000. This means that the gap between the two prices is 29.8%.
The fact to keep in mind is that for the Goleta Real Estate North areas there were only 4 properties 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 those 4 was 51 days. With the Days to Close or the escrow period being 44 which gives us a total Marketing Time of 95 days.
For Santa Barbara Real Estate’s Goleta Real Estate North area for the 1st month of the year for Condos the Median Sales price was $532,500. This can be compared to the 2006 figure of $610,000. The gap between the current Median Sales price of $532,500 and the current Median List price for the entire inventory of $579,000 is $46,500. The Median List price for 2007 is $560,000 compared to the Median List price for 2006, which was $630,000.
The gap between the Median Sales price of $532,500 and the Median List price $579,000 therefore is a -8.1%. Again, just like with Home and Estate/PUDs the numbers are very premature and will start moving around quickly.