For the Santa Barbara area of Carpinteria Real Estate/Summerland Real Estate for the condo market through August 5 there have been 37% fewer total listings in the area and 43% fewer new listings. But despite this lack of inventory the escrows are up 110% and the sales are up 52%. What’s down however is the Average Sales Price which has fallen 21% down to just below $400,000.
For Home Estates in Carpinteria Real Estate/Summerland Real Estate the total numbers of listings through August 5 is up 21% with the new listings up just 11%. But the numbers of escrows are even above those two numbers currently standing 45% above last year’s number but the sold properties are only up by 2%. The average sales price for homes in Carpinteria/Summerland is an odd number because of the diversity of the area with very expensive beach homes and 60s tract homes mixing together. Right now the average sales price is down 27% to about $1.6 million.
For PUDs in the Carpinteria/Summerland through August5 have been only 2 listings which is down 75% from last year. There has been only 1 escrow compared to 2 last year but both years have 1 sale. In ’08 that sale was for $745,000 and this year it’s been $591,000.