For West of State St in Santa Barbara Real Estate for Home Estate/PUDs for the period of 1/1/09 to 4/99/09 there have been 35 sales with a median sales price of $715,000. This is $200,000 below where the prices were last year but the numbers of sales is 5 above where they were last year. At this point I would definitely take the increase in activity so hopefully it will continue. To get those 35 accepted offers it took about 10 weeks which is quicker than the East Side, Montecito and Carpinteria/Summerland. It also took just 6 weeks to get those properties closed after they entered escrow so things are definitely moving on the West Side.
For Condominiums on the West Side of Santa Barbara Real Estate for the same time period there have 10 sales which is four down from where we were last year. The median sales price has not dropped significantly however going from $546,250 in ’08 to the current $522,500 this year. Those 10 sales took an average of about 3 months to come up with an accepted offer and another almost 2 months after that to get those sales closed.
Posted by gandlwoods at April 21, 2009 07:23 AM