For the Santa Barbara Real Estatearea of West of State St for the Home Estate/PUD market for the first 2 months of ’09 sales have been great. 18 sales have been posted with a median sales price of $946,000. Last year at this time only 7 sales had been completed with a median sales price of just under $700,000. The pended properties have also shot up from 8 in ’08 to 26 in ’09 with a median list price for ’08 of $525,000 compared to ’09 when it has been just under $800,000. New properties are also up from 30 in ’08 to 40 in ’09 with the median list price also rising from $599,000 to $950,000 in ’09. Currently there are 86 Home Estate/PUDs available for purchase on the West Side with a median list price of $990,000.
For the Santa Barbara Real Estateof West of State St for the first two months of ’09 in the condo market the news is not nearly as good. 5 sales have been completed ’09 with a median sales price of $525,000 compared to last year when there were 7 sales with a median sales price of $698,000. Things are kind of easing closer together however with 8 condos going pending in ’08 compared to 7 in ’09. The median list price for those condos is also closer together with $525,000 posted in ’08 compared to $521,000 in ’09. Currently there are 52 condos available on the West Side of Santa Barbara with a median list price of $789,000.