For Santa Barbara Real Estate area East of State St area for the Home Estate/PUD market there have been 68 completed sales which is exactly what we had last year at this time. The difference is the median sales price last year was about $1.1 million and this year it’s $910,000 for a 26% drop.
The gap for both years is about the same with a median list price of about $1.5 million last year and a median sold price of about $1.1 million giving us a -27.5% gap and this year a median list price of $1.35 million and a median sold price of $910,000 giving us a -32.6% gap.
On the condo side of the ledger for the East Side of Santa Barbara Real Estate there have been 23 sales and last year there were 23 sales. Again the difference is in the median sales price for both years. Last year the median sales price was just below $700,000 and this year it’s $517,000 for a 26% decline.
There’s also a big switch in the gap with last year’s median list price of $675,000 and median sold price actually yielding a gap of +3.6% and this year a median list price of $699,000 and a median sold price of $517,000 giving us a -26% gap.