For the Santa Barbara Real Estate area of Carpinteria Real Estate/Summerland Real Estate for the first 7 months of 08 compared to 07 the numbers of sales is off about 30% and the median sales price is down about 20%. Theres even a bigger drop in the average sales price which is down about 26%. Basically this tells us that homes at the beach have not been selling at the rate they were in the previous year. Carpinteria/Summerland had a huge run up in valuation during 04 and 05 so it was only natural that there would be some retrenchment in prices. The pattern looks like its going to continue for the foreseeable future and maybe even decline further because there is a decline in the numbers of pending listings which are also down about 26% but the median list price of those pending listings is down only about 10%.
For the Santa Barbara Real Estate area of Carpinteria Real Estate/Summerland Real Estate for the first 7 months of 08 in the condominium market shows us that sales are down by almost half from 07. The interesting number for condos is that the median sales price is down by only 12% and the average sales price is even closer coming in at less than a 10% decline. The pending sales numbers look slightly better than the sales number showing up at 38%. Its definitely been a tough year for Carpinteria/Summerland condos but maybe the tide is starting to turn upward.