For the Santa Barbara Real Estate area of Carpinteria Real Estate/Summerland Real Estate for the first 6 months of 09 as far as Home Estate/PUDs are concerned there have been almost exactly the same numbers of sales as occurred to this point in 08. The sales should continue to grow for the next few months because the numbers of pending properties is about 40% ahead of where it was in 08. But while the numbers of sales is about equal the median sales price has drifted down to about $635,000 which is approximately 35% below where it was last year at this time. Currently there are only 78 Home Estate/PUDs available purchase in the area with a median sales price of about $1.5 million.
For the Santa Barbara Real Estate area of Carpinteria Real Estate/Summerland Real Estate for the first six months for the condo market the sales are ahead of where they were last year by about 20% with the numbers of condos entering escrow ahead of the 08 pace by almost double. With all this activity in the area the median sales price has fallen about $85,000 over last years mark and currently resides at about $400,000. The median list price for the condos in escrow is farther down the scale at about $390,000 so the downward pressure on prices should continue for the foreseeable future. Right now the biggest problem in Carpinteria/Summerland condo sector is the inventory which is down to only 32 available properties with a median list price of $590,000.