For Condos in the Santa Barbara Real Estate area of East of State the total numbers of properties available this year is down by about 8% with the numbers of new listings down by 11%. But the big drop off is in the numbers of condos going into escrow which is off by 41% and the numbers of sales down by 50%. The drop gets even deeper with the sold volume which is down by 57% but interestingly enough the average sales price is down only 24%.
The Home Estate market for the East of State St area of Santa Barbara Real Estate the total numbers of properties available is only down by 6% with the numbers of listings down by 15%. With this decline in the inventory it’s only reasonable that the numbers of homes going into escrow is down by 13% but the numbers of sold properties is a little further down at 20%. This drop in the numbers of units is accompanied by a 26% drop in the overall sold volume by amazingly the average sales price for the area is only down 6%.
There’s not a whole lot of activity in the PUD market on the East Side of Santa Barbara Real Estatebut last year there were 8 listings and this year that have been 12 for a 50% rise. But numbers of new listings is exactly where it was last year with 7 for both year. On the good side of the ledger there have been 5 PUDs go into escrow this year compared to 2 last year and there have been 3 close escrow compared to 1 last year. With this increase in activity the overall volume is up 171% despite the 9% drop in the average sales price.