In the Montecito area of Santa Barbara Real Estate for the Condo Market the total numbers of properties available through November 18 ’09 is down by 1 from ’08 with the number of new listings up by 2 compared to last year. With the inventory at a level place the escrows have declined from 16 in ’08 to 10 in ’09 and the sales have declined from 18 last year to 7 this year. The overall volume has declined by 75% with the average sales price slipping 35% down to about $1.1 million.
In the Single Family Home market for the Santa Barbara Real Estate area of Montecito Real Estate through November 18 the over all inventory up just 8% this year but the number of new listings is down by 5. Properties that have gone into escrow this year is down by 4% for ’09 but the numbers of sales has declined by 15%. The overall sold volume has fallen off by 30% with the average sales price falling by 17% down to about $3.6 million.
For the PUD market in Montecito Real Estate there have been 5 listings this year compared to 3 last year but 4 new listings in ’09 compared to 3 in ’08. The escrows are the same for both years with 1 each as are the sales again with 1 in each year. But last year that sale was for about $2.5 million and this year it was for $1.5 million.