For the Home Estate/PUD market in Hope Ranch Real Estate there have been only 17 sales this year with a median sales price of $2.85 million and an average sales price of $3.16 million. All these numbers are below those posted in ’07. The sales are down by almost 50%. The median sales price is down by about 15% and the average sales price has fallen by about a third. The numbers of homes that went into escrow is also down by 50% with the median list price for those homes going into escrow falling by about 16%. Currently there are 18 Home Estate/PUDs available for purchase in Hope Ranch with a median sales price of $3.2 million and an average list price of a whopping $6 million.
For the Santa Barbara Real Estate area of Hope Ranch Real Estate for the first seven months of ’08 has seen no activity.