The Condo inventory market for the West of State St area of Santa Barbara Real Estate is basically where it was at this time last year ticking down just 2%. But the new condos that have come on the market this year is up 5%. But despite this similarity in the numbers of available listings the numbers of escrow has declined by 46% but interestingly the numbers of sold condos is down 34%. Astoundingly even through the sales are down 34% the Average Sales Price is up by 1%. This is because of some high end condos which have sold this year bringing up the Average.
For Home Estates in the Santa Barbara Real Estate area of West of State the inventory down by 8% and the new listings are down even farther by 13%. The numbers of Homes which have entered escrow is off by about 23% and the numbers of sold properties down even farther at 27%. Similarly to the East Side the escrows and closings are down significantly but the Average Sales Price is down by only 2%. While the activity is down significantly on the West Side it looks good compared to what has been going on the East Side of town.
The PUD inventory for the Santa Barbara Real Estate area of West of State St sees the numbers down by 30% and the new listings are down by 16%. But the escrows are up by 1 for a net 50% and the numbers of closings is exactly where it was last year at just 2. The real decline for the PUD market is the Average Sales Price which has dipped by 36% from $1,237,000 last year to just $781,250 this year.