In the Santa Barbara Real Estate are of Goleta Real Estate South for the Home Estate/PUD market there were 5 that closed escrow compared to 11 for the same period in 07. This is somewhat disappointing because up until now the Goleta South area has been the only district which has outpaced their 07 performance. The Median Sales Price has been lagging for 08 and in the period were talking about that number continues below the 07 number. Last year the Median Sales Price was $923,000 and this year its at $800,000. The encouraging number is the properties that went into escrow. In 08 for 4/23 to 5/23 10 homes went into escrow compared to 6 for 07. If this trend continues then Goleta South will continue to surge through 08.
For Condominiums in the Goleta Real EstateSouth area of Santa Barbara Real Estate there were 5 that closed escrow from 4/23 to 5/23 08. This compares to 7 for the same period in 07. This has been approximately the same percentage of sales comparing 07 to 08 that has existed for the entire year. But the Median Sales Price has risen rather dramatically. In 07 that number was $465,000 and in 08 its up to $599,000. The really worrisome number is the numbers of condos that went into escrow. For 07 during the period were talking about there were 7 and in 08 that number took a huge nosedive down to 1. Hopefully this is just an anomaly not a trend but its definitely a number that catches my attention.