For Santa Barbara Real Estate area of East of State St for the first 4 months for Home Estate/PUDs for 08 there have been 48 sales compared to 73 for 07. The Median Sales Price has risen slightly this year however to $1,185,000 from $1,125,000 in 07. The numbers of homes that have gone into escrow this year is about half of last years numbers. In 07 we saw 93 go pending and in 08 that number is 56. Theres only $5,000 difference between the Median List Price of what went into escrow this year compared to last year. In 08 the Median List Price of homes going into escrow is $1,200,000 compared to $1,195,000 last year. Last year at this time 151 new homes had entered the market place compared to 143 this year. But the Median List Price for the new listings in 08 stands at $1,399,000 compared to $1,350,000 a year ago. The days on the market is also quite close for both years. In 08 it has taken 91 days to get an accepted offer compared to 85 days in 07.
For the Santa Barbara Real Estate area of East of State St for the first four months of 08 in the condo market weve had 17 sales compared to the 07 number of 33. The Median Sales price has also fallen from $776,000 in 07 to the current $699,000. The numbers of condos entering escrow is down even farther than the numbers sold. Last year 39 condos had entered escrow compared to only 19 this year. The median list price of those condos entering escrow is down over $100,000. Last year it was $849,000 and this year were at $740,000. The interesting number is the days on the market. Last year for condos at this time it 140 days to get an accepted offer compared to 114 this year. There are fewer new listings that have come on the market with the 08 number being 49 and the 07 number being 56. And the Median List Price for those new properties is down considerably from $838,000 in 07 to the current $699,000.