Through the first 9 months of ’08 for Carpinteria Real Estate/Summerland Real Estate in the Home Estate/PUD market there have been 43 sales compared to 53 in ’07. The median sales price has also dropped and is currently down to $850,000 from $1,025,000 at this point last year. The average sales price has an even wider gap and currently resides at $1.76 million compared to ’07 when it was $2.6 million. The properties that have gone into escrow are a little closer together than the properties that have closed escrow so we’ll have to see whether those homes make it out the other end. But the gap between the median list price for a home entering escrow this year continues to grow when compared to the numbers from last year. Currently active Right now there are 75 Home Estate/PUDs available for purchase in Carpinteria/Summerland with a median list price of $1.19 million and an average list price of a whopping $4.69 million.
For the condo market for the Carpinteria Real Estate/Summerland Real Estate area the numbers are a lot tougher. At this time last year there had been 44 condo sales and this year there have been only 24. This decline in the numbers of sales is amplified when you look at the median sales price which has fallen by about $100,000. The average sales price hasn’t fallen quite as far it is still down by about $80,000. The numbers could be taking a turn upward however because the condos entering escrow is starting to climb. Last year 49 condos had gone into escrow and this year that number is 38. But where there’s good news it seems that bad news is soon to follow because the median list price for those 38 condos is $465,000 compared to last year when the 49 condos had a median list price of $589,000. As of today there are 69 condos available in Carpinteria/Summerland with a median list price of $679,000 and an average list price of $805,529.