For the Santa Barbara Real Estate area of West of State St area for the Home Estate/PUD market the sales are above the ’08 numbers. This year there have been 32 closings compared to 28 last year for almost a 15% rise in activity. To get that rise in activity however the median sales price slid from $900,000 in ’08 to $730,000 in ’09 for about a 19% drop.
The gap between the median sales price and the median list price is very close together for both years. Last year the median list price was $1.129 million and the median sales price of $900,000 gave us a gap of 20.3% whereas in ’09 the median list price of $980,000 and the median sales price of $730,000 give us a gap of 25.5%.
For the Santa Barbara Real Estate West Side condo market the numbers are not quite as rosy as the Home Estate/PUD market. There have been 10 sales this year compared to 14 last year for a 28.6% decline and the median sales price went from $546,250 last year to $522,500 this year for a miniscule 4.3% drop.
The gap figures comparing the median list price and median sales price are farther apart however. Last year the median list price was $640,000 and the median sales price of $546,250 gave us a 14.6% gap. But this year the median list price of $795,000 is a lot farther away from the $522,500 median sold price giving us a 34.3% gap.
Posted by gandlwoods at April 14, 2009 08:01 AM