For the Santa Barbara Real Estate area of West of State St for Single Family Homes
There were 15 sales for 4/23 to 5/23 in ’08 compared to 12 for the same period in ’07. So while the East Side continues to slide the West Side is picking up speed. The Median Sales Price for ’08 of $1,175,000 compares favorably to the ’07 number of $1,203,000. But the numbers of properties for the period in ’08 that went into escrow falls behind the ’07 numbers. Last year 18 homes went into escrow compared to 15 this year. The only number where we see a huge difference is in the Days on the Market. For ’08 it has taken 102 days to get an accepted offer whereas in ’07 that number was 48.
For Condominiums in the West of State St area of Santa Barbara Real Estate there were 2 that closed escrow this year from 4/23 to 5/23. This compared to 4 for the same period in ’07. The Median Sales Price didn’t drop by the same percentage but it did fill dramatically for ’08. Last year the Median Sales Price was $682,000 and this it has been $453,000. The numbers of condos that went into escrow is also down from the ’07 number of 11. This year for the same period shows us 6. The only area we’ve seen a rather dramatic decrease is in the Days on the Market. For ’08 it has taken 98 days to get an accepted offer as opposed to the ’07 number of 147.
Posted by gandlwoods at May 29, 2008 08:34 AM