For the Santa Barbara Real Estatearea of West of State St for the first 3 months of ’08 we’ve seen 26 home estates go into escrow with a median sales price of $900,000 and a average sales price of $1081,250. For that same time frame in ’07 in the Single Family Home market 47 homes closed escrow with a median sold price of $999,000 and an average sold price of $1,123,164. So far in ’08 85 new listings have come on the market with a median asking price of $1,025,000 and an average asking price of $1,240,525. In ’07 for that same period 80 homes came on the market with a median asking price of $1,150,000 and an average asking price of $1,336,121. So far in ’08 we’ve send 40 home estates go pending, 8 listings got withdrawn 17 were cancelled and 28 expired with 13 coming back on the market. During ’07 for that period 58 properties went into escrow, 8 were withdrawn from the market, 28 listings cancelled, 25 expired and 12 came back on the market. Currently there are 88 homes for sale in the area with a median list price of $1,149,000 and an average list price of $1,297,824.
For the Santa Barbara Real Estatearea of West of State St for the first three months of ’08 12 condos have been sold with a median sales price of $605,000 and an average asking price of $751,500. For the same time period in ’07 for the Condo market 14 condos closed escrow with a median sold price of $640,000 and an average sold price of $606,821. So far in ’08 we’ve seen 41 new condo listings come on the market with a median asking price of $629,000 and an average asking price of $815,129. For the same period in ’07 there were 39 condos that came on the market with a median asking price of $679,000 and an average asking price of $810,317. In ’08 we’ve seen only 11 listings go into escrow, 1 go withdrawn, 5 cancelled and 16 expired with 3 coming back on the market. That compares to ’07 when for the same period 22 properties went into escrow, 4 were withdrawn from the market, 9 listings cancelled, 18 expired and 14 came back on the market. Currently there are 48 condos for sale in the area with a median list price of $649,000 and an average list price of $905,652.