Through the first 10 months of ’08 for the Home Estate/PUD market on the East Side of Santa Barbara Real Estate the numbers of sales is down by about 24%. The median sales price however is only down by about 8% and the average sales price is down by about 6%. The numbers of properties that went into escrow on the East Side of Santa Barbara is down by 15% with the median list price of those homes is down by about 11%. Right now there are 111 Home Estate/PUDs available on the East Side of Santa Barbara with a median list price of $1.575 million and an average list price of almost $2 million.
For the condo market on the East Side of Santa Barbara Real Estate in ’08 there have been about 41% fewer sales this year compared to last year and the median sales price is down about 24%. So despite this willingness of sellers to come down in their price the sales are not following. The numbers of condos going into escrow this year is down about 39% with the median list price of those condos entering escrow down about 30%. Currently there are 41 condos available on the East Side of Santa Barbara with a median list price of $832,000 and an average list price of $1,266,043.