The Condo market for the Goleta Real Estate South area of Santa Barbara inventory for the year is slightly ahead with a 6% gain but the numbers of new listings is down about 10%. Also the numbers of condos which have gone into escrow is about 10% behind of where it was in ’07 but the numbers of sales is down by about 16%. This number I expect to grow as the condos that are currently in escrow complete the sales process. The average sales price for the area has drifted down by about 3%.
For Home Estates in the Santa Barbara Real Estate area of Goleta Real Estate South the inventory is up by 22% but the numbers of new listings has declined by 4%. The numbers of escrows is down by only 6% and remarkably the numbers of sales is actually up by 8%. Even more remarkably the average sales price is down by only 2%. Currently the sales wise the Goleta South area is the strongest district in town. Both the numbers of sales and the average sales price are holding strong.
The PUD market for the Santa Barbara Real Estate area of Goleta Real Estate South shows us that the total numbers of listings is off by 25% and the numbers of new listings is down by a total of 3. Likewise the numbers of escrows is down by three but the numbers of sold PUDs is down by just 1. The average sales price has declined by about 21% however.