The Condo market for the Goleta Real Estate South area of Santa Barbara the numbers of properties available is down by 26% but the numbers of escrows is up by 22%. But with the escrows up the sales have fallen by 15%. The average sales price of about $450,000 is down by 21% from where it was last year at this time.
For Home Estates in the Santa Barbara Real Estate area of Goleta Real Estate South the inventory is down by 16% from where it was last year at this time but the numbers of escrow is up by 6%. Even with the escrows more prevalent the sales have fallen by 7% from the ’08 level with the average sales price down by 8% to the current level of about $850,000.
The PUD market for the Santa Barbara Real Estate area of Goleta Real Estate South has the inventory is exactly where it was last year at this time but the numbers of escrows have doubled from 2 in ’08 to 4 in ’09. The numbers of sales is also up from 3 last year to 4 this year and to complete the trifecta the average sales price has gone up from $800,000 to $862,500 for a 7% rise.