Through December 09 for the Home Estate/PUD market on the East Side of Santa Barbara Real Estate for most of the year sales were ahead 08 by a substantial margin and we finished the year with over 20% more sales. But to achieve that 20%+ rise in sales to a decline of the median sales price of more than 20%. Finishing 09 the median sales price was just below $900,000 compared to 08 when it was $1.15 million. It looks like the trend will continue on into 10 because the numbers of escrows opened during 09 is up by 30% over 08. But it also looks like the median sales price will remain where it is because the median list price for opened escrows is 25% below the median list price of 08 showing up at just below $900,000. Right now there are 104 Home Estate/PUDs available for purchase on the East Side of Santa Barbara with a median list price of about $1.45 million.
For the condo market on the East Side of Santa Barbara Real Estate in 09 saw sales basically equal to the 08 numbers which is where weve been for most of the year. But while the numbers of sales was equal the median sales price declined by about 10% from the 08 level down to approximately $535,000 for the year. The pending listings however are way ahead of the number posted in 08 rising by about 30% over the previous year. Even though the escrows are way up however the median list price for those opened escrows remains about $100,000 below where it was the previous year falling to $519,000. Right now there are 36 condos available for purchase on the East Side of Santa Barbara with a median list price of just under $700,000.