The Condo market for the Goleta Real Estate North area of Santa Barbara the inventory is down by about 10% for the year with the numbers of new listings falling only about 2%. With the inventory down by 10% it’s interesting that the numbers of escrows is only down by about 6% with the numbers of sales down by exactly the same number. Despite this rather mild drop in the numbers of sales the average sales price decline of 12% gives us a drop in the overall sold volume of 18%.
For Home Estates in the Santa Barbara Real Estate area of Goleta Real Estate North the numbers of listings is exactly where it was last year at this time with the numbers of new listings falling by a miniscule 1%. With things flat in the inventory department it’s very good news that the numbers of escrows is up by 8% with the numbers of sold properties up by 11%. This increased activity is not without a little bit of pain however with the average sales price declining by 16% and the overall sold volume falling by 6%.
The PUD market for the Santa Barbara Real Estate area of Goleta Real Estate North the overall inventory is down by 45% dropping from 22 listings in ’07 to 12 listings this year and the numbers of new listings falling from 17 last year to 10 this year for a 14% drop. With the inventory down the numbers of escrows is sure to follow with a 57% decline but the sales are down by just 38%. The average sales price has slipped by 23% which when you put it all together gives us a whopping 53% decline.