For Santa Barbara Real Estate in Carpinteria Real Estate/Summerland Real Estate
the Price Range Statistics for 1/1/2008 to 3/15/2008 there are currently 74 Home Estate/PUDs on the market. The highest priced listing down on the beach can be had for $37,500,000. The least expensive home currently available is listed for only $446,900. When you mush all this together you come up with a median list price for the area of $1,250,000, which is not an insignificant amount at all.
As of July 24th only 10 of those 74 Home Estates are in escrow with the highest priced home listed for $4,750,000 and the least expensive which has started the buying process showing up at $479,900. The most meaningful number is the median list price for the 10 homes in escrow, which is $825,000 that tells us there’s a lot more action farther down the price scale.
For the entire area we’ve seen 29 Home Estates close escrow thus far in ’08. On the top of the sold property mountain is one that went out for $13,200,000 and farther down the scale is one that closed for $485,000. All this gives us a median sales price for Carpinteria/Summerland of $946,125, which is about where the market is for the majority of the area.
For Carpinteria Real Estate/Summerland Real Estate area for Condominiums currently there 82 active listings only 7 of which are currently in escrow. It’s been a tough year for the area condo sellers because only 16 have sold through the first part of the year. The most expensive condo, which closed escrow, went for just under $1 million and the least expensive condo slid out the door at just $250,500 giving us a median sales price of $474,000.