For the Goleta Real Estate North area of Santa Barbara Real Estate the Home Estate/PUD market there have been about 10 more sales this year than there were last year. This surge in activity was brought on by about a $140,000 drop in prices but interestingly enough the sales price to original list price ratio is right up there at 92%. The inventory is about 10 properties behind where it was the previous year with the median list price dropping about $60,000. Currently there are just 44 Home Estate/PUDs available for purchase in Goleta North with a median list price of about $950,000 and an average list price of $2.5 million. Those area sellers have been waiting an average of 4 months for that right buyer to come along.
For the Condo Market in the Goleta Real Estate North area of Santa Barbara Real Estate there have been just 4 fewer sales than there were in ’07 but the median sales price went down about $90,000. The sellers knew they were going to take the hit however because the sales price to original list price ratio was about 94% for the year. The inventory was almost exactly what it was last year but the median list price for that ratio was down by about $55,000. Currently there are only 18 condos available in Goleta North with a median list price of $439,000 and an average list price of $441,627. Those condo sellers have been waiting on average 118 days for that right buyer to come along.