For the Santa Barbara Real Estate areas of East of State St for Single Family Homes there were 19 that closed escrow in the last 30 days with a Median Sales Price of $1,000,000 and an Average Sales Price of $1,169,623. The average Days on the Market for those properties was 124. 41 properties came on the market with a Median Asking Price of $1,295,000 and an Average Asking Price of $1,612,873. 27 properties went into escrow with a Median Asking Price of $1,149,000 and an Average Asking Price of $1,321,111. The average Days on the Market for those properties is 98. Currently there are 87 Single Family Residents for sale in the area with a median asking price of $1,495,000 and an average asking price of $1,789,159. The average Days on the Market for those properties is 102.
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 $607,500 and an Average Sales Price of $644,437. The average Days on the Market for those properties was 176. 16 properties came on the market with a Median Asking Price of $699,000 and an Average Asking Price of $998,737. 8 went into escrow with a Median Asking Price of $825,000 and an Average Asking Price of $827,000. The average Days on the Market for those properties is 143. Currently there are 42 Condominiums for sale in the area with a median asking price of $695,000 and an average asking price of $903,909. The average Days on the Market for those properties is 93.
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Posted by gandlwoods at February 22, 2007 06:08 AMAt this time last year, for the first two months of 2006, the median home selling price was $1,335,000 and for condos it was $780,000. Now, from 1/15 to 2/15 of 2007 the home selling price is $1,000,000 and for condos it's $607,000. This is no fluke. Prices have dropped drastically and the trend is on a downward slope with mortgage defaults on the upswing, which will drive prices down even more.
Posted by: clearview at February 22, 2007 08:59 AM