For the East of State St area of Santa Barbara Real Estate the inventory shows us 119 Home Estate/PUDs available for purchase with the tippy top number blazing a trail at $11.9 million and the least expensive property listed for just $375,000. That huge diversity in prices still gives us a median list price of almost $1.5 million however.
There are 27 properties in escrow right now on the East Side of Santa Barbara with the most expensive home listed at about $3.4 million and the least expensive home sliding down the scale at $425,000. This is a rather substantial amount of activity for the East Side which has been lagging in the numbers of sales all year. But I think the surge in activity is because the median sales price has finally slid below $1 million and currently resides at $999,800.
Thus far in 2008 there have been 153 Home Estate/PUDs close escrow on the East Side of Santa Barbara with a top price of $4.1 million and a bottom price of $400,000. But as I said only recently has the median price dipped below $1 million and currently for the year the number still rests north of $1 million at $1.15 million.
The condo market for the East Side of Santa Barbara Real Estate has 40 properties listed for sale right now with the top priced property showing up at a whopping $15 million. Way down on the other end of the scale the least expensive condo is listed at $494,500.
Right now there are only 5 condos in escrow with the most expensive one listed considerably below $15 million at $899,000. The least expensive condo in escrow has a price tag of $438,900 but the median list price for those 5 properties is only a little above that number at $459,900.
Through November 26th 50 condos have closed escrow on the East side of Santa Barbara with the top price for the area stopping the charts at $2.2 million and the least expensive condo going out for just $114,900. That huge gulf between $2 million and about $115,000 gives us a median sales price for the area of $605,000.