For the Santa Barbara Real Estate area of West of State St for Single Family Homes
There were 11 sales this year for the period and last year there were 9. But the big news is the median sales price last year for those 9 sales was $1,115,000 and this year that number is $790,000. As prices come down sales start to surge and the days on the market start to tumble. Last year it took 130 days to get an accepted offer and this year it has only taken 58. But before we get too excited about the surge we see that for this period last year there were 13 Home Estate/PUDs that entered escrow and this year that number is 14. But to get those 14 Homes in escrow the median list price has come down from $1,099,000 last year to the current $849,000 level. Currently there are 95 Home Estate/PUDs available on the West Side of Santa Barbara with a median list price of $1,045,000 an average list price of $1,309,757 and average days on the market of 117.
For the condo market the sales figures have not come rebounding back. Last year at this time there were 10 sales and this year there have been 6. This decline in sales is despite the median sales price dropping from $667,500 last year to the current $545,000. The average sales price is even wider showing up at $935,950 last year compared to $525,500 this year. The only good news on the West Side of Santa Barbara Real Estate is that last year at this time there were 3 condos in escrow and now there are 11. But last year the median list price for those condos was $659,000 and this year that number is $469,900. Right now on the West Side of Santa Barbara there are 53 condos available with a median list price of $895,000 and an average list price of $1,125,132 and average days on the market of 124.