For the Santa Barbara Real Estate area of West of State St area the Median Sales price Home Estate/PUD is currently $915,000 with 134 sales but last year the median sold price was $1,038,750 with 184 sales. When you put it all together the sales price has gone down by about 12% but the numbers of sales have declined 28%. So the interesting anomaly is that the West Side has cut prices more drastically than the East Side but sales have declined more on the West Side.
The gap between the median sales price of $915,000 and the median list price of $1,129,000 is about 20% whereas last year the median sold price was $1,038,075 with a median list price of $1.149 million for only a 10%.
For the Santa Barbara Real Estate West Side condo market the median sales price has fallen to $535,000 with 59 sales compared to last year when it was $645,000 with 73 sales. That results in a median sales decline of about 17% and about a 20% drop in sales.
The gap report for the West Side shows us a $535,000 median sales price with a $789,000 median list price for a 32% difference whereas last year the median sold price was $645,000 with a median list price of $679,000 for just a 5% gap.
Posted by gandlwoods at December 25, 2008 09:45 AM