Through the middle of March ’08 for Carpinteria Real Estate/Summerland Real Estate there have been 19 Home Estate/PUD sales through 5/13 ’08. This compares to 21 for the same period in ’07. But while the numbers of sales is rather close there’s a huge difference in the Median Sales Price. In ’08 we’ve seen a Median Sales Price of $946,125 compared to the same period last year when that number was $1,625,000. Interestingly enough the Days on the Market for ’08 is down to 97 from last year’s number of 123. Dollar values are usually skewed in the Carpinteria/Summerland area because off the huge diversity. At the beginning of last year there were sales of $35 and $20 million dollars that tilted the Median and particularly the Average Sales numbers.
For Condominiums in Carpinteria Real Estate/Summerland Real Estate there have been 11 sales through May 13 compared to 16 for the same time period in ’07. But just like with Home Estate/PUD Median Sales prices there’s a big difference. This year we’ve seen $500,000 be the Median Sales number compared to $584,000 last year. This despite the big drop in the Sales Price to Original List Price ratio of 84.49% for ’08 compared to 91.61% in ’07. This means that the sellers have been giving up about 15% of the price they hoped to get. But unlike Home Estate/PUDs the Days on the Market for ’08 has stretched out to 142 compared to last year’s number of 117.
Posted by gandlwoods at May 19, 2008 07:34 AM