The Condo market for the Goleta Real Estate South area of Santa Barbara inventory for the year is down by about 9% with the numbers of new listings falling by 22%. But despite this drop in the numbers of available condos the numbers of escrow is only down about 5% but the numbers of closed condos is off by about 24%. This 24% drop in the number of sales is accompanied by a 24% in the sold volume. But amazingly the decline in sold volume is not accompanied by any drop in the average sales price.
For Home Estates in the Santa Barbara Real Estate area of Goleta Real Estate South the inventory is up by 9% for the year but the numbers of new listings is down by 6%. The big news for Goleta South is that the numbers of escrow is up by 17% and the numbers of closed escrows is up by 8%. This increase in the escrows and sales is not accompanied by an increase in sold volume which is down by 6%. Also the average sales price has fallen by 13%.
The PUD market for the Santa Barbara Real Estate area of Goleta Real Estate South shows us that the total numbers of listings is down by 1 for a total of 10 and the new listings are down by 3 for a total of 7. The big drop is the number of escrows which have fallen by 62% with the numbers of sold properties down by 57%. The biggest decline however is the sold volume which is off by 68%. Interestingly enough the average sales price is down by only about 27%.