For the Santa Barbara area of Carpinteria Real Estate/Summerland Real Estate for the condo market ’07 looks very similar to what occurred for the same period in ’07. The number of Total Active Listings shows about 6% of head of last year and the New Listings has ahead by 2 %. The properties that have entered escrow are up dramatically this year by about 25%, however the properties that have closed escrow is up only 8%. The Average Sales price has dropped 9% from $636,239 last year to the $575,599.
For Home Estates in Carpinteria Real Estate/Summerland Real Estate the total numbers of listings available for sale is down about 4% as are the number of new listings. The number of homes entering escrow is also down by 11% but miraculously the number of sales is up by1%. This increase in sales is accompanied by a dramatic reduction in the average sales price from $3,085,628 last year to $2,635,755 this year which is a 14% decline.
In the Santa Barbara area of Carpinteria Real Estate/Summerland Real Estate for the PUD market the inventory is ahead of the ’06 number by 33% and the new PUDs that came up the market this year are up by 75%. Despite this rise in the inventory the numbers of escrows is down by 25%. But the numbers of sales is exactly where it was last year at this time. Despite equaling the sales number we have seen a decline in the average sales price from $1,016,333 last year to $751,667 this year for a 26% drop off.