For the Santa Barbara Real Estate area of West of State St area the Median Sales price Home Estate/PUD is currently $912,000 on 13 sales and last year it was about $1.1 million on 10 sales. So with the median sales price down about 17% and the numbers of sales up 30% things actually pretty good on the West Side.
The gap between the median sales price of $912,000 and the median list price of $980,000 is only 0.5% this year but last year that gap was slightly wider at 6.9%. Hopefully West Side Home Estate sales will be leading the way for the rest of the area.
For the Santa Barbara Real Estate West Side condo market the median sales price has fallen to $520,000 on 3 sales from $691,500 last year on 6 sales. So with the median sales price down by about 25% and the numbers of sales down by 50% the condo market on the West Side is directly reversed from what we see in the Home Estate market.
The Gap Report really amplifies the sales and sales price numbers. In ’08 the gap was just 1.1% but in ’09 that gulf has widened out to 40.2% with a sales price of $520,000 and a list price of $869,000.
Posted by gandlwoods at February 22, 2009 08:28 AM