For Santa Barbara Real Estate East of State St for Single Family Homes there were 13 that closed escrow for this period compared to 18 last year. To accompany this decline in the numbers of units sold is a drop in the median sales price of about $300,000 and a decline in the average sales price of about $230,000. There is some good news poking its nose over the horizon however. The numbers of pending listings for this period this year is 19 and last year it was 18. The median list price for those 19 listings is $950,000 and last year that number was about $500,000 higher. The surge of new listings is down from 47 last year to 29 this year but amazingly the median list price is up from $1,295,000 last year to $1,495,000 this year. There are currently 146 home estates on the market on the East Side of Santa Barbara with a median list price of $1,587,000 and an average list price of $1,818,675.
For Condominiums in the East of State St area of Santa Barbara Real Estate there were 6 sales compared to last year when there were 6. But, the median sales price is over $200,000 les than it was last year and the average sales price is about $320,000 less than 2007. Unfortunately the properties that went into escrow in ’07 were 7 and for ’08 that number was 4. The median list price for those properties for both years is about the same with $559,000 last year and $575,000 this year. The numbers of properties coming on the market has slowed dramatically for this period. There were 16 new listings in ’08 and 30 last year. The median list price has also slowed dramatically from $1,079,000 last year to $649,000 this year. Currently there are 43 condos available on the East Side of Santa Barbara with a media list price of $649,000 and an average list price of $755,064.