From Jan1 to July 9 there have been 26 sales in the Carpinteria Real Estate/ Summerland Real Estate Home Estate/PUD market compared to last year when there were 27. But while there have been only 1 fewer sales the median sales price has slid from about $950,000 last year to about $650,000 this year. The sellers are giving up a lot in the area which is indicated by the sales price to original list price ratio of 80% compared to last year when that ratio was 94%. The average days on the market this year have been 91 to get the property into escrow and then tack on another 56 for the escrow period for a total marketing time of 147 days.
For Condominiums in Carpinteria Real Estate/ Summerland Real Estate for the same time period there were 19 sales compared to last year when there were 16. The median sales price for condos has also fallen but not nearly as much. In ’08 the median sales price was $487,000 and currently that number is $400,000. The days on the market are also rather close for both years. In ’09 it’s taken 128 days to get an accepted offer and in ’09 it took 122 days. You slap on another 57 days for escrow time and this year it’s taken on average 185 days to get a condo sold.
Posted by gandlwoods at July 12, 2009 09:54 AM