The Condo market for the Goleta Real EstateNorth area of Santa Barbara the inventory is down by 34% from 47 last year to 31 this year. The new listings are down by 33% with 21 in ’07 compared to 14 in ’08. As you would expect numbers of escrow is down from 11 last year to the current 5 for a 45% drop and the numbers of sold properties is also way down with 11 in ’07 compared to 4 in ‘08. The average sales price has risen slightly from $526,970 to the current $527,800.
For Home Estates in the Santa Barbara Real Estate area of Goleta Real EstateNorth the total inventory is up by 6 for a 5% rise and the new properties are also up by 12% from 48 last year to 54 this year. The numbers of escrows has seen a decline from 42 in ’07 to the current 35 a 16% drop. But the numbers of sold properties is up from 23 in ’07 to 24 in ’08. The Average Sales price has risen slightly posting a $1,040,452 in ’07 to the current $1,065,092 in ’08 for a 2% increase.
The PUD market for the Santa Barbara Real Estate area of Goleta Real EstateNorth numbers for the total inventory are down this year from 7 to 4 for a 42% decline. The numbers of new listings is identical for both years with 2. But the numbers of escrow is down from 2 in ’07 to 0 this year. The sold PUDs are not doing as poorly however show 3 for last year vs. 2 for this year. And remarkably the average sales price has risen from $868,333 in ’07 to $952,500 in ’08.