The Condo market for the West of State St area of Santa Barbara Real Estate the total inventory for ’09 is up by 14% but the numbers of new condos that came on the market this year is down by 40%. Despite that fall in new condos the escrows are up by 25% but the sales are down by 40%. But despite that dramatic drop the average sales price is down just 10%
For Home Estates in the Santa Barbara Real Estate area of West of State the total homes available is down by 7% with the numbers of new listings down by 27%. With the inventory down you’d think the numbers of escrows and sales would be down but escrows are up 90% and sales are up 33%. To get that rise in numbers of sales the price on the West Side has come down about 20%.
The PUD market for the Santa Barbara Real Estate area of West of State St very little activity has occurred this year. Last year there were 2 listings and this year there are none. There were no new listings in either year and there was 1 escrow in ’08. All the rest of the numbers are goose eggs for both years.