For Condos in the Santa Barbara Real Estate area of East of State the total numbers of properties for sale this year is up by 4% with the total numbers of escrow up by 21%. The numbers of sales is slightly farther down but is still ahead of the ’08 pace by 16%. But to achieve those sales and escrow numbers the average sales price has fallen by 28% to the current approximately $600,000 range.
The Home Estate market for the East of State St area of Santa Barbara Real Estate the total numbers of listings is down by 2% but the numbers of escrows is up by 12%. This increase in escrows has not given way to an increase in sales which are currently down by about 10%. The average sales price has also dipped and is off by 13% from ’08 currently residing at about $1.1 million.
For the PUD market on the East Side of Santa Barbara Real Estate there were only 9 active listings last year and this year has given us only 3. There were only 2 escrows opened in ’08 which is 2 more than have been opened in ’09. There was only 1 sale last year and 0 for ’09 and that 1 sale was for $750,000.