For the Santa Barbara Real Estate area of Goleta Real Estate North for the first 6 months of ’09 there have been 70 sales compared to 77 last year. This 10% drop in the numbers of sales is due to the declining inventory in the area and should continue in that vein for the foreseeable future because the escrows are 2 behind where they were last year at this time. The median sales price has declined from $850,000 last year to the current $702,000 for an 18% drop. The median list price for Homes going into escrow also declined from $875,000 last year to $749,000 this year for a 15% drop. There are only 61 Home Estate/PUDs available for purchase in the Goleta North area with a median list price of $1.15 million.
For the Santa Barbara Real Estate area of Goleta Real Estate North for the first six months of ’09 there have been 18 sales compared to 16 last year. The median sales price has dropped from $500,000 last year to the current $420,000 for a 16% decline. The pending properties are way up however almost double the number of condos that went into escrow at this time last year. But the median list price on those almost double numbers of escrows dropped from $519,000 last year to $372,000 currently. Right now there are only 12 condos available for purchase in Goleta North with a median list price of $439,000.