For the East of State St area of Santa Barbara Real Estate there is currently 146 Home Estate/PUDs available with an average list price of about $1.8 million and a median list price of right about $1.6 million. Yup, things are pretty darn expensive on the East Side of Santa Barbara. Right on top of the hill there’s one property listed for $10.5 million but the least expensive listing is right around $450,000.
With those 146 listings on the East Side of Santa Barbara there are 24 that are in escrow right now. The interesting part of this equation is that while the average list price is about $1.8 million the average list price of the homes in escrow is about $1.1 million and the median list price of the homes in escrow is about $960,000 which is considerably below the median list price of the inventory which is $1.6 million. The highest priced listing in escrow is right about $2 million but the least expensive property is right below $400,000.
Thus far in 2008 there have been 115 sales of Home Estate/PUDs on the East Side of Santa Barbara with an average sales price of about $1.3 million but a median sales price of about $1.1 million. The most expensive property which has completed the selling process went out at $4.1 million and the least expensive property closed out at just $400,000.
The condo market for the East Side of Santa Barbara Real Estate has cooled considerably in the last year. Right now there are just 34 condos available with an average list price of just $803,170 and a median list price of $655,000. The most expensive condo on the East Side can be had for about $1.5 million but on the other end of the scale $455,000 can get you a condo on the East Side.
With 34 condos available there are 9 currently in escrow. Those 9 have an average list price of $507,444 but a median list price of $499,000. The highest priced condo in escrow right now is listed for just $605,000 while the least expensive property is on the market for $419,000.
Through September 10th there have been 35 condos sold on the East Side with an average sales price of $782,568. The median sales price is a little farther down at $649,000 but a way up the road the most expensive condo sale this year came in at $2.2 million. But on the other side of the coin the least expensive condo was snapped up for just $144,900.