For the Santa Barbara Real Estate area of East of State St for the first eight months of ’09 the numbers of sales are 7 above where they were last year at this time with 119 closed escrows currently but the median sales price has dropped from $1.125 million to $899,000. The average sales price is still just slightly above $1 million but that is down from $1.356 million last year. The numbers of escrows is even farther ahead with 147 this year compared to 122 last year. But that median list price for those escrows is by $250,000 to $899,000. The sales price to original list price ratio is in the mid 80s which is healthier than any district we’ve seen so far but that still means that sellers gave up about 15% of what they would have liked to have gotten. Right now there are 154 Home Estate/PUDs available for purchase with a median list price of $1.295 million and an average list price of about $1.7 million.
For the Santa Barbara Real Estate area of East of State St for the first eight months of ’09 for the condominium market there is 1 more sale than we have last year at this with a total of 36 condos that closed escrow. The median sales price went down however from $649,000 last year to $513,500 this year. The numbers of escrow is way up from just 38 in ’08 to 50 currently but the median list price has fallen from $643,000 to $523,900. Right now there are 47 condos available for purchase on the East side of Santa Barbara with a median list price of $710,000 and an average list price of just under $900,000.
Posted by gandlwoods at September 9, 2009 08:00 AM