For Santa Barbara Real Estate’s Goleta Real Estate South area for the Home Estate/PUD market most of the way through the first quarter sales were almost exactly what they were last year. As come to the end of the first quarter sales are starting to fall back. In ’08 there were 21 sales and for ’09 there have been 17. This is a decline of about 20% year over year. The median sales price is a little closer together and has gone from $785,000 last year to $680,000 this year for a 13.4% decline.
The gap report is a very wide gulf however. In ’08 the median list price was $819,900 and when compared to the median sales price of $785,000 we come up with only a 4.3% gap. This year however we have a $1.195 million median list price with a $680,000 median sales price which gives us a 43.1% gap.
For the condo market in Goleta Real Estate South the numbers are a mess. There have been only 8 sales this year compared to 20 last year for a 60% drop and the median sales price went from $615,000 last year to $381,750 this year for a 37.9% decline.
The gap report is also flipped on its head from last year. In ’08 the median list price was $560,000 and when compared to the median sales price of $615,000 we get a positive 8.7%. But this year the median list price is $469,000 while the median sales price is $381,750 giving is almost a 20% gap.
Posted by gandlwoods at April 16, 2009 09:34 AM