For the Home Estate/PUD market in Hope Ranch Real Estate there have been only about 20 sales this year for the area and the median sales price was about $2.8 million. Now most places on the planet would throw a party with a median sales price of 2.8 but in Hope Ranch thats a decline of about $400,000 from the previous. The average sales price showed an even bigger swing dropping about $1.4 million. This fall in sales activity was despite the fact that there were more new listings that came on the market and at least in the beginning the median list price for those properties was above the previous year. But when reality hit the area that median sales price came tumbling down. Currently there are only 18 Home Estate/PUDs available in Hope Ranch with a median list price of $3.2 million and an average list price of about $6.2 million. But those sellers have been waiting on average 155 days for the right buyer to come along.
For the Santa Barbara Real Estate area of Hope Ranch Real Estate for the first seven months of 08 has seen no activity.