For Condos in the Santa Barbara Real Estate area of East of State the total numbers of properties for sale this year is down by 13% and the numbers of new listings is down even farther at 16%. But all that looks like good news compared to the numbers condos that went into escrow which is down by 41% with the numbers of sales down by 40%. These numbers are despite the fact that the average condo price has fallen by 25% giving us an overall volume decline of 55%.
The Home Estate market for the East of State St area of Santa Barbara Real Estate the total numbers of listings is down by just 5% with the numbers of new listings declining by 13%. With the fall in the inventory you would expect a drop in the numbers of escrows and that number is down by 15% with sales falling by 20%. But with all this negative news the average sales price has fallen only 5% on the East Side of Santa Barbara but the overall volume is down by 24%.
Theres not a whole lot of activity in the PUD market on the East Side of Santa Barbara Real Estatebut last year there were 9 total listings compared to this year when there are 12. The new listings are down however from 8 last year to 7 this year. The good news is that escrows are up by 4 for a total of 6 and sales are by 3 for a total of 5. That increase in activity gives us a 159% rise in activity with only a 3% rise in the average sales price.