For Santa Barbara Real Estate’s Goleta Real Estate South area the Median Sales price for time period for Jan. 1 through June 13 we’ve seen 35 sales compared to 42 at this time last year. Accompanying this drop in the numbers of sales is a drop in both the median and average sales price. Both numbers have fallen about $100,000 in just one year.
The inventory on the other hand is very close to where it was last year with only 2 properties separating the years. The median list price however has dropped by about $60,000 this year which amplifies the almost $100,000 drop in the sales price.
The Goleta numbers as far as sales are concerned are a lot closer to the numbers posted in ’07 when compared to the East and West Side of Santa Barbara. This is no doubt due to a larger percentage drop in the price when compared to the other districts.
Looking at the gap report we see that the difference between what the sellers would like to get and what the buyers are willing to pay is about $120,000 compared to last year when that number was $80,000.
Things are definitely better out in Goleta so we’ll have to see whether that trend continues for the rest of the year.
For Santa Barbara Real Estate’s Goleta Real Estate South area for the condo market the numbers are also closer than in the other districts around town. There have been 31 completed sales compared to 36 at this time last year. But just like with Home Estates we’ve seen about a $100,000 drop in the median sales. What has risen is average sales price which is about $27,000 higher than it was at this time last year.
The overall inventory is almost exactly where it was last year and the median list price for those homes is within $1,000 of the previous year’s mark. The difference comes in the gap report where we see for ’08 a difference of $65,000 between askin’ and gittin’ compared to last year when the number was $45,000.
Again, whatever is happening in the rest of Santa Barbara it’s currently better in Goleta.