For the Santa Barbara Real Estate area of Goleta Real Estate South for the first 4 months of ‘09 for the Home Estate/PUD market we’ve seen 25 sales compared to 27 in ’08. After being ahead of the previous year’s pace for most of the year Goleta South has fallen behind. The biggest reason for this is that the numbers of foreclosures coming on the market this year has slowed to trickle. The median sales price is stabilizing at about $680,000 compared to last year when it was $785,000 and at least for now the numbers of pending escrows is still about of last year’s numbers currently standing at 36 compared to 31 last year. The sales price to original list price ratio is basically the same as it was last year but the numbers of new listings is about 12% below the ’08 level. Currently there are just 46 Home Estate/PUDs available for purchase in the Goleta South area with a median list price of $1.36 million and an average list price of $1.422 million.
For the Santa Barbara Real Estate area of Goleta Real Estate South for the first four months of ’09 in the Condo market there have 12 sales compared to 23 last year. The median sales price has also fallen dramatically from $615,000 last year to the current $399,250. The numbers of pending condos is starting to come up however and is at 21 compared to 27 last year which is a lot closer together than the sales figures who lead you to believe. But the median list price is still rather far apart with a $629,000 figure posted last year compared to $375,500 this year. Currently there are just 19 condos available in the Goleta South area with a median list price of $489,000 and an average list price of $464,231.