For Condos in the Santa Barbara Real Estate area of East of State the overall numbers of condo listings is down by about 14% with the new listings down even farther at 19%. This drop in the numbers of new listings is less than half of the decline numbers of condos that have gone into escrow. Condos that have started escrow process are down by 44% and sales are even down farther at 51%. Even farther down is the sold volume which has declined by 59%. But amazingly the average sales price has dipped only 15%.
The Home Estate market for the East of State St area of Santa Barbara Real Estate show us an inventory which is almost exactly where it was last year but new homes coming on the market has fallen by about 10%. But just like with condos the decline in the inventory is doubled by lack of escrows which is down by 19% and down even farther are the sales which have fallen by 30%. All this lack of activity on the East Side has the sold volume off by about 34% but again amazingly there is only a 6% decline in the average sales price.
There’s not a whole lot of activity in the PUD market on the East Side of Santa Barbara Real Estatebut for what’s there the numbers of total listings for the year is up by 5 to 11 but the new listings is only up by 1 to 6. On the good side the numbers of escrow is up by 2 for a total of 3 and the number of sold PUDs is up by 1 for a total of 2. A doubling of the sold numbers yields an 84% rise in the sold volume but the average sales price for ’08 has declined by 7%.