For Santa Barbara Real Estate’s Goleta Real Estate South area the Median Sales price through February 12th has been $787,500 on 6 sales while last year it was $785,000 on 7 sales. It looks now like the median sales price for the area is starting to stiffen while the numbers of sales is remaining stable.
Now for the gap report for Goleta south. Last year there was a small gape of 2% with a median list price of $800,000 and a median sales price of $785,000. This year the gap has grown to about 35% with a median list price of $1.21 million compared to a median sales price of $787,500.
For the condo market in Goleta Real Estate South the median sales price of $375,000 on 3 sales doesn’t look too good compared to ’08 when it was $590,000 on 7 sales. This translates out to about a 37% drop in the median sales price and more than a 50% in the numbers of sales.
The gap report for amplifies those numbers when was see ’08 had just a 1.5% gap and ’09 has given us a 29% gap with a median list price of $525,000 and a median sales price of $375,000.