For Santa Barbara Real Estate’s Hope Ranch Real Estate area the Median Sales price for Home Estate/PUD market shows us 9 sales compared to 15 at this time last year. The market is going in two directions. The overall inventory is up this year and the overall sales are down. With so few properties changing hands the numbers can get skewed but currently the median sales price for the year is down about $800,000 and the average is down by a whopping $1.75 million.
The difference between the years is more dramatic when we see that last year for the 19 available properties the median list price was $2.895 million compared to this year when they’ve fallen $200,000 down to $2,695 million.
These make the gap report a very interesting tale. This year there’s only about $175,000 difference between what the sellers would like and what the buyers want to pay. Last year what the sellers paid was about $450,000 more than what the sellers want.
Again, when you’re dealing with so few sales the numbers tend to get skewed, but this is an interesting time for Hope Ranch.
For Santa Barbara Real Estate’s Hope Ranch Real Estate area for the period of Jan.1 through April 15 for Condos there was no activity.