For the East of State St Home Estate/PUDs for Santa Barbara Real Estate there have been 78 sales through July 11 ’08 which is a decline of 40%. But interestingly enough the median sales price is exactly where it was last year at this time and the average sales prices are down only about 3%. The Days on the Market has slipped to 94 day compared to the 80 days it took to get an accepted offer last year.
For Condominiums in the East of State St area of Santa Barbara Real Estate there have been 27 sales which is a decline of about 55%. But unlike the Home Estate numbers the median and average sales price numbers have declined. The median sales price for ’08 has been just under $700,000 which is a drop of about 12% and the average has fallen by a more modest 8%. The only real good news on the East Side for Condos is that it has taken 95 days to get an accepted offer this year compared to the ’07 number of 107.