For the Santa Barbara Real Estate area of Goleta Real Estate South for the first 4 months of ‘08 for the Home Estate/PUD market we’ve seen 27 sales which is exactly the number that occurred last year. The Median Price of those sales last year was $854,000 and this year that number is down to $785,000. To get that $785,000 has taken considerably longer however. Last year it took 61 days to get an accepted offer, but this year that number is up to 90. The homes that have gone into escrow are also very close to the number which went in last year. In ’07 there were 34 escrows and this year there have been 31. The Median List Price of homes going into escrow in ’07 was $799,500 and last year it was $899,000. Coming onto the market for ’08 there have been 63 new listings with a median list price of $849,000. In ’07 there were 66 new listings but the median list price was $949,000.
For the Santa Barbara Real Estate area of Goleta Real Estate South for the first four months of ’08 in the Condo market there have 22 sales and last year at this time there have been 25. The Median Sales Price currently is $615,000 and last year it was $529,000. While the Median Sales Price has risen it has also taken less time to get an accepted offer. The Days on the market for ’08 have been 68 and it ’07 that number was 85. So far in ’08 we’ve seen 25 condos go into escrow and in ’07 that number was 28. The Median List Price for those 28 was $515,000 and in ’08 the 25 condos Median List Price has been $629,000. With the rise in the Median Sales Price we’ve also seen a decline in the days on the market for ’08. So far this year it has taken 68 days to get an accepted offer and last year it took 85.
Posted by gandlwoods at May 10, 2008 08:16 AM