For Santa Barbara Real Estate area East of State St area for the Home Estate/PUD market there have been 30 sales compared to 34 last year. This translates into 11.8% less activity. The difference in the median sales price is a little wider however. Last year the median sales price was $1.185 million and this year it’s $977,500 for a 17.5% decline.
For the gap report that figure has widened out this year. With a $1.435 million median list price compared to a $977,500 median sold price there is almost a 32% gap, whereas last year the median list price was $1.449 million compared to a median sales price of $1.185 million which gave us an 18.2% gap.
On the condo side of the ledger for the East Side of Santa Barbara Real Estate there have been 8 sales compared to 12 last year for a 33% decline in activity. The median sales price while down from last year is a little closer to the previous year’s figure. In ‘08 the median sales price for the first quarter was $687,000 and now it’s $556,000 for almost a 20% decline.
The gap between sales price and list price is wider this year. In ’08 the median list price was $759,000 with a median sales price of $687,000 for a 9.5% gap and this year the median list price is $725,500 compared to a $556,000 median sold price for a 23.3% gap.