The Condo market for the Goleta Real Estate North area of Santa Barbara the inventory has dropped by about 18% year over year but the new listings that have come on the market this year is down by just 6%. Unfortunately the condos that have entered escrow are off by 38% but even more dramatically the numbers of sales is down by 50%. The average sales price is not as dramatic showing up at just.
For Home Estates in the Santa Barbara Real Estate area of Goleta Real Estate North the numbers of homes that have been on the market this year is up but by only 3%. The numbers of new listings that came on the market this year is also up but by only 4%. Showing remarkably consistency the numbers of escrows are down only by 3% but the numbers of sales has declined by 13%. The real decline comes in the average sales price which has slipped 20% from the previous year.
The PUD market for the Santa Barbara Real Estate area of Goleta Real Estate North the overall inventory is down 42% from 7 available properties last year to only 4 this year. But the numbers of new listings is exactly the same with 2 this year vs. 2 last year. Unfortunately the numbers of escrow for ’08 stands at 0 compared to 2 for ’07. But the numbers of sales is only off by 1 with 3 posted last year compared to 2 this year. And miraculously the average sales price of PUDs has risen by 9% over last year. Both Goleta North and South are doing better than the rest of the town but not quite as good as Montecito.