For Santa Barbara Real Estate’s Goleta Real Estate North for the Home Estate/PUD market the numbers of sales has been ahead of the ’08 number for most of the year but as we closed the 1st quarter that number fell below last year’s pace. In ’08 there were 36 sales and in ’09 there have been 34 for a 5.6% drop. The drop in the median sales price is wider however with ’08 posting an $858,000 median sales price and ’09 giving us a $707,500 figure for a 17.5% drop off.
The gap report for the area has widened in ’09. This year the median list price of $1.149 million compares to a $707,500 median sales price gives us almost a 40% gap whereas in ’08 there was a $899,000 median list price compared to a $858,000 median sales price for a 4.6% gap.
For the Goleta Real Estate North condo market has been really rough for ’09 up until the end of the quarter then there has been a substantial amount of activity. The numbers of sales still lags however but that number is way up from where it was. In ’09 we’ve seen 5 condo sales compared to 7 in ’08 for a 28.66% decline but the median sales price went from $470,000 in ’08 to $460,000 in ’09 for only a 2.1% fall off.
The gap report for the area is also rather close together. In ’08 the median list price was $499,000 with a median sales price of $470,000 for a 1.2% gap and in ’09 the median list price is $465,500 compared to a median sales price of $460,000 giving us a 5.8% gap.