The Condo market for the West of State St area of Santa Barbara Real Estate the total numbers of listings is down 12% this year with the numbers of new listings down even further with a drop of 31%. But amazingly with the inventory down the escrows are up 9% to 48 but the sales are down 7% to 36. With the sales falling the average sales price is also down by 14% to just under $600,000.
For Home Estates in the Santa Barbara Real Estate area of West of State the total homes that have been on the market in ’09 are down by 8% to 274 with the numbers of new listings falling off 14% to 183. But with the inventory down the escrows are up by 12% to 114 and the sales are up 13% to 95. With the sales up the average sales price is down by 25% to $840,000.
The PUD market for the Santa Barbara area of West of State St there were 7 listings last year with 6 this year but 5 new listings last year with 6 this year. Unfortunately there have been only 2 escrows opened this year compared to 6 that were opened last year. Those 6 escrows led to 6 sales and this year those 2 escrows has given us only 1 sale for $990,000 compared to the average last year of $939,417.