For Santa Barbara Real’s Carpinteria Real Estate/Summerland Real Estate for the Home Estate/PUD market the median sales price for the 1st quarter of ’09 is just below $600,000. That figure is about 40% below the ’08 level. The sales are even further down and stand at exactly 50% of where we were last year at this time.
This disparity is supported when we look at the gap which is the difference between the median list price and the median sales price. For ’09 the gap is over 50% with a $1.25 million median list price compared to a $595,500 median sales price. In ’08 the gap was half that with a $1.299 median list price compared to almost a $1 million median sales price.
For the Carpinteria Real Estate/Summerland Real Estate condo market the numbers are a lot closer together. In fact the numbers of sales is 33% above last year’s number while the median sales price is only about 8% below where the ’08 number resides.
The gap for condo sales price to list price is a lot closer together this year. For ’09 a $499,900 median list price and a $436,250 median sales price gives us only a 12.7% gap whereas in ’08 a $649,000 median list price vs. a $472,500 median sales price gives us a 27.2% gap.