For the Santa Barbara Real Estate an area of Carpinteria Real Estate/Summerland Real Estate for Home Estates and PUDs for the 30 day period from October 1 to October 31 ’08 there have been 6 sales compared to the same period in ’07 when there were only 4. The increase in activity is good and is being spurred by a decline in the median sales price from $975,000 last year to $727,500 this year. The number that jumps out at me is a 78% sales price to original list price ratio meaning that if the property were listed for $1 million it sold for $780,000. The increase in activity has also spurred a decline in the Days on the Market which has fallen to 66 for the month. Homes that have gone into escrow have also risen from 3 last year to 9 this year but again the median list price has fallen from $995,000 down to $599,000. Right now there are 71 Home Estate/PUDs available in Carpinteria/Summerland with a median list price of $1.175 million and an average list price of $4.8 million.
For condos the sales figures are also encouraging when viewed from last year to this. For Carpinteria Real Estate/Summerland Real Estate in October there were 8 sales compared to 3 last year and interestingly enough the median sales price has risen from $418,000 to $479,500. The sales price to original list price ratio is way to 79% this year from 89% last year. The surge might have petered out however because the numbers of pending condos is exactly where it was last year with 3. This is despite the fact that the median list price for those condos went from $650,000 to $525,000 this year. Right now there are 74 condos available in Carpinteria/Summerland with a median list price of $675,000 and an average list price of $801,897. But the real fly in the ointment for the area is an average days on the market of 167.
Posted by gandlwoods at November 9, 2008 07:32 AM