For Santa Barbara Real Estate’s Hope Ranch Real Estate area the Median Sales price for Home Estate/PUD market through December 17 is $2.85 million with 19 sales compared to last year when the median sales price was $3.275 million with 34 sales. This translates to a 13% decline in the median sales price and about a 40% decline in the numbers of units sold. In most places a median sales price of $2.85 million would be a time of great joy but in Hope Ranch it’s a big come down.
Looking at the gap report for Hope Ranch this year the median list price of $3.195 million compared to the median sold price of $2.85 million gives us a gap of about 11%. That’s pretty darn close when compared to other area. But last year at this time the median list price was $2.895 million whereas the median sold price was $3.275 million which gave us a positive gap of about 13%. That means that the sales price was 13% above the asking price.
For Santa Barbara Real Estate’s Hope Ranch Real Estate area for the period of Jan.1 through April 15 for Condos there was no activity.