For Santa Barbara Real Hope Ranch Real Estate area for the Home Estate/PUD market there have been only 2 sales through the first quarter of the year. This compares to 7 sales for the first quarter of ’08. This gives us a 71.4% drop in activity. The median sales price however is actually higher this year than it was last year. For ’08 the median sales price was $2,259,080 and this year it’s been $2,365,000 for a positive 4.7% rise.
The gap report looking at the difference between the median sales price and median list price is a lot wider this year however. In ’08 the median list price was $2.598 million compared to a median sold price of $2,259,080 which gave us a 13% gap. This year however the median list price is $3.35 million compared to a $2,365,500 median sold price which gives us almost a 30% gap.
For Santa Barbara Real Estate’s Hope Ranch Real Estate area for the period of Jan.1 through April 15 for Condos there was no activity.