For the West of State St area of Santa Barbara Real Estate
for the first 6 months there have been 71 sales with a median sold price of about $1 million and an average sales price of about $1.17 million. This compares to ’07 when there were 91 sales with a median sales of also about $1 million and an average sales price of about $1.17. The disparity in the numbers of sales appears to continue because of the pending listings we’ve seen this year. For ’08 85 Home Estate/PUDs have entered escrow with a medina list price of just about $1 million and for ’07 there were 113 pending listings with a median sales price of about a $1 million. Right now there are 103 homes available on the West Side with a median list price of about $990,000 and an average list price of about $1.3 million.
For the West of State are of Santa Barbara Real Estate
for the first six months in the condo market there have been 23 sales compared to 40 at this time last year. The median sales price has dropped about $100,000 but the average sales price is much closer together. The average this year is about $640,000 and last y ear it was about $675,000. It looks like the disparity in sales will continue because we see 32 condos have entered escrow in ’08 compared to 48 that entered escrow last year. The $100,000 difference also looks like it will continue for the foreseeable future. Right now there are 69 condos available on the West Side of Santa Barbara with a median list price of $825,000 and an average list price of $1,038,640.