In the West of State St area of Santa Barbara Real Estate the inventory currently stands at 85 properties available for purchase. The most expensive home that’s for sale has a price tag of about $5.5 million while the least expensive home is listed for below $400,000. This massive diversity still gives us a median list price above $1 million however currently residing at $1.15 million.
Right now there are 18 Home Estate/PUDs in escrow on the West Side of Santa Barbara with a top list price of $1.595 and a bottom list price of $389,900. The interesting number here is the median list price of the homes currently in escrow which stands at $729,000 or about $425,000 below what the current median list price of the inventory.
Through November 26th there have been 127 sales on the West Side with a top price of $5 million and a bottom price of $370,000. All this gives us a median sales price for the area of $920,000 which is still about $225,000 below the median list price for the inventory.
For the Condo market on the West Side of Santa Barbara Real Estate there are 67 available which mean that market is growing and the top list price for those 67 resides at $2.595 million. Way down on the price list the least expensive property has a $420,000 tag on it. With that big ol’ gulf staring at us the median list price for the area is $825,000.
There are currently 10 condos in escrow on the West Side with a top price of $1.595 million and a bottom price of $319,000. This gives us a median list price for the 10 condos of $449,000 which tells us that top end of the market has gotten rather quiet for now.
Throughout 2008 we’ve seen 54 condos close escrow with the top price showing up at $2.15 million and the least expensive condo sliding out the door for just $350,000. The median sales price is a lot closer to $350,000 than it is to $2 million and currently resides are $545,000.
Posted by gandlwoods at December 3, 2008 09:11 AM