For the Santa Barbara area of Carpinteria Real Estate/ Summerland Real Estate for the condo market the total number of active listings is up by 15% and new listings have risen by 27%. There has been a couple of good sized new condo developments come on the market accounting for this rise. But despite in the rise of the number of condos available, one that has gone into escrow has dropped by 46% and the sales have fallen by 40%. Adding insult to injury we see that the Average Sales Price has fallen by 17% down to $495,292.
For Home Estates in Carpinteria/Summerland the total numbers of listings is also up but by only 5% and the new listings have actually dropped by 15%. But just like with the condo market Homes that have gone into escrow is down by 10%. The sales are down even more dramatically dipping 17%. Moving from the bad to the really bad we see that the Average Sales Price has dropped by 41%. This number is highly suspect however because it reflects some huge sales that took place early in 07. But even though the Average is down by 41%, the raw number is still $2,473,045 which isnt too bad.
Looking at the PUD market for Carpinteria Real Estate/ Summerland Real Estate the total number of active listings is exactly where it was last year as is the numbers of new listings. Continuing with the pattern the numbers of listings that have entered escrow is exactly the same as last year as is the number of sales. Breaking the pattern is the rise in the Average Sales Price up 18% year over year.