For the Santa Barbara Real Estate area of Goleta Real Estate North for the first 5 months of 08 for Home Estate/PUDs we have seen 58 sales compared to 60 for 07. Just like Goleta South the North side has done better than any of the other districts in the area. Unfortunately were starting to fall back in the numbers of pending listings. In 07 to this time of the year the number was 78 homes that went into escrow, this year weve seen 69. This drop is definitely not as dramatic as the other areas of Santa Barbara but its still about 15% down. Both the median and sold prices have seen substantial drops. The median sales price went from $972,500 in 07 down to 800,000 in 08 and the average sales price dropped from $1,274,087 in 07 down to $985,490 in 08. The numbers that have remained very close are the days on the market which has been 79 this year compared to 76 last year and the numbers of new listings which went from 137 last year to 133 this year.
For the Santa Barbara Real Estate area of Goleta Real Estate North for the first five months of 08 weve see 13 sales compared to 22 for 07. The North side of Goleta is definitely not performing as well as the South side for the condo market but the pending sales are pointing the right way. So far in 08 weve had 17 condos go into escrow compared to 20 for 07. Both the average and median sales prices are closer to their 07 numbers than those in the south however. The median sales price is down to $490,000 from the 07 number of $550,000 and the average sales number has dropped from $547,301 last year to the current $497,261. The tough part is that the days on the market have risen dramatically up to 133 for 08 compared to 85 for 07. But numbers of new listings coming on the market doesnt show a dramatic change with 35 this year compared to 40 last year.
Posted by gandlwoods at June 16, 2008 07:31 AM