The Condo market for the Goleta Real Estate North area of Santa Barbara the inventory is down by 22% compared to ’07 but the numbers of new listings is down by only 14%. The percentage of escrows is down by just 10% in the Goleta North area but percentage of completed escrows is down by 40%. Hopefully this 40% decline is because condos are staying in escrow longer and a significant number of those properties will complete the sales process. The average sales price for Goleta North condos has dropped 9% to $497,262.
For Home Estates in the Santa Barbara Real Estate area of Goleta North the total numbers of listings is only 2 fewer than this time last year and the numbers of new listings is down by 3%. The percentage of the homes which entered escrow in the area is down by just 6% and miraculously the numbers of sales is up by 1%. The average sales price has dipped by 21% however down to $999,913.
The PUD market for the Santa Barbara Real Estate area of Goleta Real Estate North the total numbers of listings is down 33% from 15 last year to 10 this year. But the numbers of new listings is off only 20% showing 10 last year compared to 8 this year. Interestingly the numbers of escrows is down a similar 20% from 6 last year to 4 this year and the numbers of sales is 10% from 5 last year to 4 this year. The average sales price has dipped by 8% to $821,000.