For Santa Barbara Real Estate in East of State St the Price Range Statistics for 1/1/2007 to 1/27/2007 show that there are currently 88 Home and Estate/PUDs on the market. The average price for the 88 properties is $1,815,846; the highest priced listing is $8,950,000, the median listing price is $1,595,000 and the lowest priced listing is $399,000. The average market time for those properties is 111 days.
There were 16 properties that entered escrow in the same time period. The average price for those homes that entered escrow is $1,249,156. The highest price house is $2,895,000, the median price is $950,000 and the lowest priced house is $725,000. The average market time for the homes is 108.
One the Sales side there has been 10 properties close escrow. The average price of those 10 homes is $1,028,400, the highest price is $1,570,000, the median price is $900,000 and the lowest priced property is $665,000. The average market time for these homes is 117 days.
For Santa Barbara Real Estate for East of State St the Price Range Statistics for Condominiums there are currently 34 condos currently on the market. The average price for the 34 properties is $894,997; the highest priced listing is $1,875,000 the median listing price is $690,000 and the lowest priced listing is $409,000. The average market time for those properties is 117 days.
There were 11 condos that entered escrow in the same time period. The average price for those homes that entered escrow is $851,727. The highest price house is $1,824,000 the median price is $775,000 and the lowest priced house is $509,000. The average market time for the homes is 173.
One the Sales side there has been 4 properties close escrow. The average price of those 4 homes is $739,125, the highest price is $830,000, the median price is $749,000 and the lowest priced property is $552,500. The average market time for these homes is 152 days.
For Santa Barbara Real Estate in Montecito Real Estate the Price Range Statistics for 1/1/2007 to 1/27/2007 show that there are currently 103 Home and Estate/PUDs on the market. The average price for the 103 properties is $6,155,601; the highest priced listing is $34,000,000, the median listing price is $3,775,000 and the lowest priced listing is $1,395,000. The average market time for those properties is 126 days.
There were 13 properties that entered escrow in the same time period. The average price for those homes that entered escrow is $3,916,076. The highest price house is $9,750,000, the median price is $3,099,000 and the lowest priced house is $1,395,000. The average market time for the homes is 108.
One the Sales side there has been 11 properties close escrow. The average price of those 11 homes is $3,642,045, the highest price is $6,200,000, the median price is $2,900,000 and the lowest priced property is $1,310,000. The average market time for these homes is 164 days.
For Santa Barbara Real Estate for Montecito Real Estate the Price Range Statistics for Condominiums there are currently 12 condos currently on the market. The average price for the 12 properties is $1,598,166; the highest priced listing is $2,650,000, the median listing price is $1,350,000 and the lowest priced listing is $849,000. The average market time for those properties is 97 days.
There was 1 condo that entered escrow in the same time period. The average price for that home that entered escrow is $3,595,000. The highest price house is $3,595,000, the median price is $3,595,000 and the lowest priced house is $3,595,000. The average market time for the homes is 212.
One the Sales side there has been 5 properties close escrow. The average price of those 5 homes is $1,377,000, the highest price is $2,425,000, the median price is $1,475,000 and the lowest priced property is $720,000. The average market time for these homes is 198 days.
For Santa Barbara Real Estate in Carpinteria Real Estate/ Summerland Real Estate the Price Range Statistics for 1/1/2007 to 1/27/2007 show that there are currently 34 Home and Estate/PUDs on the market. The average price for the 34 properties is $2,974,585; the highest priced listing is $35,000,000, the median listing price is $1,475,000 and the lowest priced listing is $775,000. The average market time for those properties is 142 days.
There were 3 properties that entered escrow in the same time period. The average price for those homes that entered escrow is $1,068,000. The highest price house is $1,320,000, the median price is $999,000 and the lowest priced house is $885,000. The average market time for the homes is 150.
One the Sales side there has been 5 properties close escrow. The average price of those 5 homes is $3,088,000, the highest price is $7,900,000, the median price is $1,615,000 and the lowest priced property is $750,000. The average market time for these homes is 102 days.
For Santa Barbara Real Estate for Carpinteria Real Estate/ Summerland Real Estate the Price Range Statistics for Condominiums there are currently 37 condos currently on the market. The average price for the 37 properties is $609,040; the highest priced listing is $1,080,000, the median listing price is $589,000 and the lowest priced listing is $448,000. The average market time for those properties is 139 days.
There were 3 condos that entered escrow in the same time period. The average price for those homes that entered escrow is $549,000. The highest price house is $597,000, the median price is $525,000 and the lowest priced house is $525,000. The average market time for the homes is 227.
One the Sales side there has been 0 properties close escrow. The average price of those 0 homes is $0, the highest price is $0, the median price is $0 and the lowest priced property is $0. The average market time for these homes is 0 days.
Looking at Goleta Real Estate North from Jan. 1 through Jan. 19 in 07 for Home/Estates and PUDs we see that 3 properties have closed escrow for 06 it was 4 for 05 it was 8 and for 04 it was 7. Examining the Median Sales price we have $825,000 for 07 $1,013,250 for 06, $906,000 for 05 and $952,000 for 04.
During 07 11 properties have come on the market with a Median List price of $969,000 in 06 there were 10 with a Median List price of $989,000 for 05 there were 16 with a Median List price of $845,000 and for 04 there were 6 with a Median List price of $989,000.
For 07 there has been 7 properties enter escrow, in 06 there were 6, is 05 there were 6 and in 04 there were 9.
For Goleta Real Estate North from Jan. 1 through Jan. 19 in 07 for Condos there have been 2 properties that closed escrow. For 06 there were 4, in 05 there were 3 and for 04 there were 3. Looking at the Median Sales price for those properties it was $356,600 for 07, $678,875 for 06, $607,250 for 05 and $600,000 for 04.
Thurs far in 07 8 properties have come on the market with a Median List price of $568,900. In 06 8 properties came on with a Median List price of $610,000, in 05 there were 0 that came on with a Median List price of $0 and in 04 there were 5 that came on with a Median List price of $499,000.
So far in 07 4 properties have gone into escrow, in 06 there were 3, in 05 there was 3 and in 04 there was 1.
Looking at Goleta Real Estate South from Jan. 1 through Jan. 19 in 07 for Home/Estates and PUDs we see that 4 properties have closed escrow for 06 it was 4 for 05 it was 3 and for 04 it was 5. Examining the Median Sales price we have $852,000 for 07 $927,000 for 06, $875,000 for 05 and $1,040,000 for 04.
During 07 11 properties have come on the market with a Median List price of $899,000 in 06 there were 12 with a Median List price of $979,000 for 05 there were 3 with a Median List price of $929,000 and for 04 there were 6 with a Median List price of $684,000.
For 07 there has been 6 properties enter escrow, in 06 there were 6, is 05 there were 3 and in 04 there was 3.
For Goleta Real Estate South from Jan. 1 through Jan. 19 in 07 for Condos there have been 2 properties that closed escrow. For 06 there were 2, in 05 there were 0 and for 04 there were 8. Looking at the Median Sales price for those properties it was $573,251 for 07, $546,500 for 06, $0 for 05 and $488,500 for 04.
Thurs far in 07 7 properties have come on the market with a Median List price of $499,000. In 06 6 properties came on with a Median List price of $539,000, in 05 there were 8 that came on with a Median List price of $465,000 and in 04 there were 6 that came on with a Median List price of $489,000.
So far in 07 3 properties have gone into escrow, in 06 there were 5, in 05 there was 2 and in 04 there was 1.
Looking at Hope Ranch Real Estate from Jan. 1 through Jan. 19 in 07 for Home/Estates and PUDs we see that 1 property has closed escrow for 06 it was 0 for 05 it was 0 and for 04 it was 1. Examining the Median Sales price we have $6,900,000 for 07 $0 for 06, $0 for 05 and $1,582,004 for 04.
During 07 1 property came on the market with a Median List price of $6,900,000 in 06 there were 0 with a Median List price of $0 for 05 there were 0 with a Median List price of $0 and for 04 there was 1 with a Median List price of $1,582,004.
For 07 there has been 0 properties enter escrow, in 06 there were 2, is 05 there were 0 and in 04 there was 1.
For Hope Ranch Real Estate from Jan. 1 through Jan. 19 in 07 for Condos there has been no activity.
Looking at West of State St from Jan. 1 through Jan. 19 in 07 for Home/Estates and PUDs we see that 8 properties have closed escrow for 06 it was 9 for 05 it was 7 and for 04 it was 9. Examining the Median Sales price we have $1,580,000 for 07 $1,080,000 for 06, $869,000 for 05 and $800,000 for 04.
During 07 19 properties have come on the market with a Median List price of $925,000 in 06 there were 22 with a Median List price of $1,049,000 for 05 there were 16 with a Median List price of $1,135,000 and for 04 there were 20 with a Median List price of $949,000.
For 07 there has been 8 properties enter escrow, in 06 there were 7, is 05 there were 4 and in 04 there was 14.
For West of State St from Jan. 1 through Jan. 19 in 07 for Condos there have been 0 properties that closed escrow. For 06 there were 6, in 05 there were 5 and for 04 there were 4. Looking at the Median Sales price for those properties it was $0 for 07, $687,240 for 06, $715,000 for 05 and $535,400 for 04.
Thurs far in 07 4 properties have come on the market with a Median List price of $775,000. In 06 8 properties came on with a Median List price of $469,000, in 05 there were 3 that came on with a Median List price of $624,500 and in 04 there were 7 that came on with a Median List price of $605,000.
So far in 07 6 properties have gone into escrow, in 06 there were 3, in 05 there was 3 and in 04 there were 4.
Looking at East of State St from Jan. 1 through Jan. 19 in 07 for Home/Estates and PUDs we see that 6 property has closed escrow for 06 it was 12 for 05 it was 10 and for 04 it was 6. Examining the Median Sales price we have $1,017,500 for 07 $1,390,000 for 06, $1,122,500 for 05 and $892,500 for 04.
During 07 31 properties have come on the market with a Median List price of $1,389,000 in 06 there were 21 with a Median List price of $1,248,700 for 05 there were 19 with a Median List price of $1,530,000 and for 04 there were 30 with a Median List price of $1,275,000.
For 07 there has been 12 properties enter escrow, in 06 there were 13, is 05 there were 14 and in 04 there was 16.
For East of State St from Jan. 1 through Jan. 19 in 07 for Condos there have been 3 properties that closed escrow. For 06 there were 3, in 05 there were 4 and for 04 there were 5. Looking at the Median Sales price for those properties it was $825,000 for 07, $730,000 for 06, $627,000 for 05 and $535,000 for 04.
Thurs far in 07 10 properties have come on the market with a Median List price of $775,000. In 06 18 properties came on with a Median List price of $949,000, in 05 there were 6 that came on with a Median List price of $765,000 and in 04 there were 2 that came on with a Median List price of $619,000.
So far in 07 6 properties have gone into escrow, in 06 there were 3, in 05 there was 4 and in 04 there was 1.
Looking at Montecito Real Estate from Jan. 1 through Jan. 19 in 07 for Home/Estates and PUDs we see that 9 properties have closed escrow for 06 it was 10 for 05 it was 16 and for 04 it was 4. Examining the Median Sales price we have $2,900,000 for 07 $2,421,250 for 06, $2,275,000 for 05 and $1,697,600 for 04.
During 07 20 properties have come on the market with a Median List price of $3,500,000 in 06 there were 26 with a Median List price of $2,850,000 for 05 there were 19 with a Median List price of $2,495,000 and for 04 there were 17 with a Median List price of $4,250,000.
For 07 there has been 9 properties enter escrow, in 06 there were 9, is 05 there were 13 and in 04 there was 8.
For Montecito Real Estate from Jan. 1 through Jan. 19 in 07 for Condos there has been 1 property that closed escrow. For 06 there was 1, in 05 there were 3 and for 04 there were 3. Looking at the Median Sales price for those properties it was $1,475,000 for 07, $1,395,000 for 06, $1,380,000 for 05 and $2,050,000 for 04.
Thurs far in 07 2 properties have come on the market with a Median List price of $1,049,000. In 06 2 properties came on with a Median List price of $1,295,000, in 05 there was 1 that came on with a Median List price of $1,495,000 and in 04 there were 4 that came on with a Median List price of $950,000
So far in 07 1 property has gone into escrow, in 06 there were 0, in 05 there was 0 and in 04 there were 4.
Looking at Carpinteria Real Estate/ Summerland Real Estate from Jan. 1 through Jan. 19 in 07 for Home/Estates and PUDs we see that 3 properties have closed escrow for 06 it was 3 for 05 it was 1 and for 04 it was 0. Examining the Median Sales price we have $1,615,000 for 07 $1,475,000 for 06, $5,102,500 for 05 and $0 for 04.
During 07 5 properties have come on the market with a Median List price of $891,600 in 06 there were 10 with a Median List price of $1,995,000 for 05 there were 5 with a Median List price of $2,325,000 and for 04 there were 2 with a Median List price of $777,000.
For 07 there has been 1 property enter escrow, in 06 there were 3, is 05 there were 0 and in 04 there was 1.
For Carpinteria Real Estate/ Summerland Real Estate from Jan. 1 through Jan. 19 in 07 for Condos there have been 0 properties that closed escrow. For 06 there was 3, in 05 there were 0 and for 04 there were 4. Looking at the Median Sales price for those properties it was $0 for 07, $795,000 for 06, $0 for 05 and $540,000 for 04.
Thurs far in 07 3 properties have come on the market with a Median List price of $562,666. In 06 6 properties came on with a Median List price of $679,000, in 05 there were 4 that came on with a Median List price of $495,000 and in 04 there were 6 that came on with a Median List price of $483,000
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So far in 07 1 property has gone into escrow, in 06 there was 1, in 05 there was 1 and in 04 there were 6.
For Santa Barbara Real Estate for 06 in Goleta Real Estate North there have been 9 Single Family Residents Close escrow over the last 30 days. The Average Days on the Market which means from the time the property was listed until it went into escrow for those properties was 24 days. The Average Days to Close which means the time the property was in Escrow was 32 days. This means that from start to finish was a total of 56 days. The Median Sold price for those properties was $890,000 and the Average Sold price was $992,444.
For Santa Barbara Real Estate for 06 in Goleta Real Estate North there were 4 Condos that Closed escrow over the last 30 days. The Average Days on the Market which means from the time the property was listed until it went into escrow for those properties was 71 days. The Average Days to Close which means the time the property was in Escrow was 23 days. This means that from start to finish was a total of 94 days. The Median Sold price for those properties was $542,500 and the Average Sold price was $484,300.
For Santa Barbara Real Estate for 06 in Goleta Real Estate South there were 9 Single Family Residents Close escrow over the last 30 days. The Average Days on the Market which means from the time the property was listed until it went into escrow for those properties was 49 days. The Average Days to Close which means the time the property was in Escrow was 38 days. This means that from start to finish was a total of 87 days. The Median Sold price for those properties was $820,000 and the Average Sold price was $772,332.
For Santa Barbara Real Estate for 06 in Goleta Real Estate South there were 6 Condos that Closed escrow over the last 30 days. The Average Days on the Market which means from the time the property was listed until it went into escrow for those properties was 113 days. The Average Days to Close which means the time the property was in Escrow was 46 days. This means that from start to finish was a total of 159 days. The Median Sold price for those properties was $550,000 and the Average Sold price was $557,000.
For Santa Barbara Real Estate for 06 in Hope Ranch Real Estate there were 2 Single Family Residents Close escrow over the last 30 days. The Average Days on the Market which means from the time the property was listed until it went into escrow for those properties was 153 days. The Average Days to Close which means the time the property was in Escrow was 89 days. This means that from start to finish was a total of 242 days. The Median Sold price for those properties was $5,317,500 and the Average Sold price was $5,317,500.
For Santa Barbara Real Estate for 06 in Hope Ranch Real Estate there were no condos sold.
For Santa Barbara Real Estate for 06 in West of State St there were 14 Single Family Residents Close escrow over the last 30 days. The Average Days on the Market which means from the time the property was listed until it went into escrow for those properties was 77 days. The Average Days to Close which means the time the property was in Escrow was 47 days. This means that from start to finish was a total of 124 days. The Median Sold price for those properties was $1,257,500 and the Average Sold price was $1,270,892.
For Santa Barbara Real Estate for 06 in West of State St there were 3 Condos that Closed escrow over the last 30 days. The Average Days on the Market which means from the time the property was listed until it went into escrow for those properties was 66 days. The Average Days to Close which means the time the property was in Escrow was 38 days. This means that from start to finish was a total of 104 days. The Median Sold price for those properties was $676,000 and the Average Sold price was $928,666.
For Santa Barbara Real Estate for 06 in East of State St there were 19 Single Family Residents Close escrow over the last 30 days. The Average Days on the Market which means from the time the property was listed until it went into escrow for those properties was 47 days. The Average Days to Close which means the time the property was in Escrow was 37 days. This means that from start to finish was a total of 84 days. The Median Sold price for those properties was $1,150,000 and the Average Sold price was $1,271,954.
For Santa Barbara Real Estate for 06 in East of State St there were 3 Condos that Closed escrow over the last 30 days. The Average Days on the Market which means from the time the property was listed until it went into escrow for those properties was 70 days. The Average Days to Close which means the time the property was in Escrow was 54 days. This means that from start to finish was a total of 124 days. The Median Sold price for those properties was $515,000 and the Average Sold price was $545,000.
For Santa Barbara Real Estate for 06 in Montecito Real Estate there were 13 Single Family Residents Close escrow over the last 30 days. The Average Days on the Market which means from the time the property was listed until it went into escrow for those properties was 67 days. The Average Days to Close which means the time the property was in Escrow was 41 days. This means that from start to finish was a total of 108 days. The Median Sold price for those properties was $2,690,000 and the Average Sold price was $3,528,461.
For Santa Barbara Real Estate for 06 in Montecito Real Estate there was 1 Condo Close escrow over the last 30 days. The Average Days on the Market which means from the time the property was listed until it went into escrow for those properties was 26 days. The Average Days to Close which means the time the property was in Escrow was 34 days. This means that from start to finish was a total of 80 days. The Median Sold price for that property was $1,475,000 and the Average Sold price was $1,475,000.
For Santa Barbara Real Estate for 06 in Carpinteria Real Estate/ Summerland Real Estate there were 5 Single Family Residents Close escrow over the last 30 days. The Average Days on the Market which means from the time the property was listed until it went into escrow for those properties was 83 days. The Average Days to Close which means the time the property was in Escrow was 33 days. This means that from start to finish was a total of 116 days. The Median Sold price for those properties was $955,000 and the Average Sold price was $1,088,000.
For Santa Barbara Real Estate for 06 in Carpinteria Real Estate/ Summerland Real Estate there was 1 Condo Closed escrow over the last 30 days. The Average Days on the Market which means from the time the property was listed until it went into escrow for those properties was 246 days. The Average Days to Close which means the time the property was in Escrow was 35 days. This means that from start to finish was a total of 281 days. The Median Sold price for that property was $500,000 and the Average Sold price was $500,000.
For Santa Barbara Real Estate for 06 in Carpinteria Real Estate/ Summerland Real Estate there were 5 Single Family Residents Close escrow over the last 30 days. The Average Days on the Market which means from the time the property was listed until it went into escrow for those properties was 83 days. The Average Days to Close which means the time the property was in Escrow was 33 days. This means that from start to finish was a total of 116 days. The Median Sold price for those properties was $955,000 and the Average Sold price was $1,088,000.
For Santa Barbara Real Estate for 06 in Carpinteria Real Estate/ Summerland Real Estate there was 1 Condo Closed escrow over the last 30 days. The Average Days on the Market which means from the time the property was listed until it went into escrow for those properties was 246 days. The Average Days to Close which means the time the property was in Escrow was 35 days. This means that from start to finish was a total of 281 days. The Median Sold price for that property was $500,000 and the Average Sold price was $500,000.
For the Santa Barbara Real Estate area of Goleta Real Estate North for the first 12 months of 06 in the Single Family Home market 152 homes closed escrow with a median sold price of $932,500 and an average sold price of $1,062,617. 261 homes came on the market with a median asking price of $989,000 and an average asking price of $1,268,456. Also for that period 151 properties went into escrow, 33 were withdrawn from the market, 53 listings cancelled, 60 expired and 54 came back on the market. Currently there are 66 homes for sale in the area with a median list price of $1,129,000 and an average list price of $1,567,100.
For the Santa Barbara Real Estate area of Goleta Real Estate North for the first 12 months of 06 in the Condo market 51 condos closed escrow with a median sold price of $600,000 and an average sold price of $596,196. 89 condos came on the market with a median asking price of $599,000 and an average asking price of $602,853. Also for that period 51 properties went into escrow, 9 were withdrawn from the market, 23 listings cancelled, 23 expired and 20 came back on the market. Currently there are 25 condos for sale in the area with a median list price of $579,000 and an average list price of $590,992.
For the Santa Barbara Real Estate area of Goleta Real Estate South for the first 12 months of 06 in the Single Family Home market 88 homes closed escrow with a median sold price of $910,750 and an average sold price of $999,244. 145 homes came on the market with a median asking price of $925,000 and an average asking price of $1,094,220. Also for that period 94 properties went into escrow, 23 were withdrawn from the market, 30 listings cancelled, 45 expired and 26 came back on the market. Currently there are 21 homes for sale in the area with a median list price of $960,000 and an average list price of $1,235,166.
For the Santa Barbara Real Estate area of Goleta Real Estate South for the first 12 months of 06 in the Condo market 64 condos closed escrow with a median sold price of $582,250 and an average sold price of $575,195. 121 condos came on the market with a median asking price of $589,000 and an average asking price of $589,814. Also for that period 65 properties went into escrow, 22 were withdrawn from the market, 33 listings cancelled, 50 expired and 18 came back on the market. Currently there are 26 condos for sale in the area with a median list price of $529,000 and an average list price of $557,730.
For the Santa Barbara Real Estate area of Hope Ranch Real Estate for the first 12 months of 06 in the Single Family Home market 19 homes closed escrow with a median sold price of $2,550,000 and an average sold price of $2,607,894 36 homes came on the market with a median asking price of $2,850,000 and an average asking price of $3,898,741. Also for that period 21 properties went into escrow, 6 were withdrawn from the market, 5 listings cancelled, 20 expired and 10 came back on the market. Currently there are 14 homes for sale in the area with a median list price of $6,850,000 and an average list price of $6,970,192.
For the Santa Barbara Real Estate area of Hope Ranch Real Estate for the first 12 months of 06 in the Condo market 1 condo closed escrow with a median sold price of $1,000,000 and an average sold price of $1,000,000. 1 condo came on the market with a median asking price of $1,099,000 and an average asking price of $1,099,000. Also for that period 1 property went into escrow, 0 were withdrawn from the market, 0 listings cancelled, 0 expired and 0 came back on the market. Currently there are 0 condos for sale in the area with a median list price of $0 and an average list price of $0.
For the Santa Barbara Real Estate area of West of State St for the first 12 months of 06 in the Single Family Home market 180 homes closed escrow with a median sold price of $1,011,250 and an average sold price of $1,147,061. 330 homes came on the market with a median asking price of $1,069,000 and an average asking price of $1,266,370. Also for that period 180 properties went into escrow, 38 were withdrawn from the market, 76 listings cancelled, 112 expired and 87 came back on the market. Currently there are 88 homes for sale in the area with a median list price of $1,099,000 and an average list price of $1,452,377.
For the Santa Barbara Real Estate area of West of State St for the first 12 months of 06 in the Condo market 66 condos closed escrow with a median sold price of $672,000 and an average sold price of $713,562. 148 condos came on the market with a median asking price of $689,000 and an average asking price of $763,908. Also for that period 68 properties went into escrow, 30 were withdrawn from the market, 35 listings cancelled, 78 expired and 37 came back on the market. Currently there are 36 condos for sale in the area with a median list price of $720,000 and an average list price of $879,697.
For the Santa Barbara Real Estate area of East of State St for the first 12 months of 06 in the Single Family Home market 231 homes closed escrow with a median sold price of $1,255,000 and an average sold price of $1,464,927. 386 homes came on the market with a median asking price of $1,295,000 and an average asking price of $1,532,691. Also for that period 233 properties went into escrow, 61 were withdrawn from the market, 96 listings cancelled, 132 expired and 100 came back on the market. Currently there are 88 homes for sale in the area with a median list price of $1,395,000 and an average list price of $1,685,055.
For the Santa Barbara Real Estate area of East of State St for the first 12 months of 06 in the Condo market 77 condos closed escrow with a median sold price of $790,000 and an average sold price of $916,685. 157 condos came on the market with a median asking price of $825,000 and an average asking price of $961,464. Also for that period 81 properties went into escrow, 25 were withdrawn from the market, 43 listings cancelled, 50 expired and 27 came back on the market. Currently there are 36 condos for sale in the area with a median list price of $715,000 and an average list price of $940,733.
For the Santa Barbara Real Estate area of Montecito Real Estate for the first 12 months of 06 in the Single Family Home market 165 homes closed escrow with a median sold price of $2,700,000 and an average sold price of $3,710,542. 301 homes came on the market with a median asking price of $2,995,000 and an average asking price of $4,580,931. Also for that period 172 properties went into escrow, 51 were withdrawn from the market, 61 listings cancelled, 107 expired and 87 came back on the market. Currently there are 107 homes for sale in the area with a median list price of $3,700,000 and an average list price of $5,794,841.
For the Santa Barbara Real Estate area of Montecito Real Estate for the first 12 months of 06 in the Condo market 20 condos closed escrow with a median sold price of $1,692,500 and an average sold price of $1,587,675. 44 condos came on the market with a median asking price of $1,549,000 and an average asking price of $1,611,874. Also for that period 25 properties went into escrow, 12 were withdrawn from the market, 13 listings cancelled, 15 expired and 13 came back on the market. Currently there are 11 condos for sale in the area with a median list price of $1,295,000 and an average list price of $1,598,909.
For the Santa Barbara Real Estate area of Carpinteria Real Estate/Summerland Real Estate for the first 12 months of 06 in the Single Family Home market 63 homes closed escrow with a median sold price of $1,240,000 and an average sold price of $2,981,896. 120 homes came on the market with a median asking price of $1,099,000 and an average asking price of $2,732,085. Also for that period 63 properties went into escrow, 21 were withdrawn from the market, 35 listings cancelled, 46 expired and 40 came back on the market. Currently there are 37 homes for sale in the area with a median list price of $1,489,000 and an average list price of $3,634,402.
For the Santa Barbara Real Estate area of Carpinteria Real Estate/Summerland Real Estate for the first 12 months of 06 in the Condo market 48 condos closed escrow with a median sold price of $575,000 and an average sold price of $604,348. 117 condos came on the market with a median asking price of $599,000 and an average asking price of $642,545. Also for that period 44 properties went into escrow, 23 were withdrawn from the market, 33 listings cancelled, 63 expired and 25 came back on the market. Currently there are 42 condos for sale in the area with a median list price of $549,000 and an average list price of $608,130.
For the Santa Barbara Real Estate areas of Goleta Real Estate North for Single Family Homes there were 9 that closed escrow in the last 30 days with a Median Sales Price of $1,075,000 and an Average Sales Price of $1,380,000. The average Days on the Market for those properties was 74. 14 properties came on the market with a Median Asking Price of $920,000 and an Average Asking Price of $1,388,635. 7 properties went into escrow with a Median Asking Price of $849,000 and an Average Asking Price of $801,128. The average Days on the Market for those properties is 135. Currently there are 67 Single Family Residents for sale in the area with a median asking price of $1,129,000 and an average asking price of $1,559,367. The average Days on the Market for those properties is 108.
For the Santa Barbara Real Estate areas of Goleta Real Estate North for Condominiums there were 9 that closed escrow in the last 30 days with a Median Sales Price of $600,000 and an Average Sales Price of $564,855. The average Days on the Market for those properties was 60. 3 properties came on the market with a Median Asking Price of $589,000 and an Average Asking Price of $729,333. 3 went into escrow with a Median Asking Price of $533,000 and an Average Asking Price of $513,500. The average Days on the Market for those properties is 107. Currently there are 25 Condominiums for sale in the area with a median asking price of $575,000 and an average asking price of $587,748. The average Days on the Market for those properties is 129.
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Santa Barbara Real Estate for 2006 including Carpinteria, Summerland, Montecito, Santa Barbara, Hope Ranch and Goleta saw the number of sales for Home and Estate and Planned Unit Developments fall off about 16% from 2005. The total number of units that closed escrow was 898 as opposed to 1079 for 2005. This adds up to about a 17% decline of the number of properties that sold for the period. The interesting number to me is that the Median Sales price for those almost 900 houses was off only 5%. So despite declining sales the Median Sales price dipped to only $1,190,000 for the area from Goleta to Capinteria. I dont know about you, but almost $1.2 million is a lot of money.
This slight decline in the Median Sales price saw even a smaller drop off in the Median List price. For 2006 it came in at $1,295,000 only .3% below what it was in 2005. This was interesting to me because we had about 8% more properties listed in 2006 as opposed to 2005. Usually when you have more of something the price falls, but at least for 2006 that wasnt the case.
The most interesting number to me is what I call the Gap between what people are willing to sell for and what people are willing to pay. You find the gap by taking the Median Sales price for a certain period of time and then dividing it by whatever the inventory Median List price is for that same period of time. At the end of 2006 the Median Sales price for the entire year was $1,190,000 as I mentioned earlier. The Median List price for the inventory of homes still on the market is $1,595,000. This gives us a gap of 25.4% or in real numbers right around $300,000.
This is a pretty substantial gulf so I thought Id look at individual districts to see what their gaps were. In Carpinteria and Summerland the gap was 16.8% with a Median Sales price of $1,240,000 and a Median List of $1,489,000. For Montecito the Gap was a whopping 27.1% with a Median Sales price of $2,700,000 and a Median List of $3,700,000.
On the East side of State St the gap was 16.1% with a Median Sales price of $1,255,000 and Median List of $1,495,000. But on the West Side the gap was only 8% with a Median Sales price of $1,011,250 and a Median List price of $1,099,000.
Out in Hope Ranch the gulf was a monstrous 58.4% with a Median Sales price of $2,550,000 and Median List of $6,850,000. But in Goleta South the gap was only 4.1% with a Median Sales price of $910,750 and a Median List of $949,000. And finally in Goleta North the gap zooms back up to 17.5% with a Median Sales price of $932,500 and a Median List price of $1,129,000.
Now on the Condo side of the ledger weve got some very interesting numbers. Sales were down a whopping 27.2% for a total of only 337 condos sold for 06 versus 449 for 05. Again the most interesting number in all of this is that the Median Sold price is only down 3% from 05. For all of 06 the Median Sold price was $655,000 as opposed to $675,000 for 05.
The Median List price declined even less than the Median Sold price. For 06 it was down to $679,000 as opposed to 05s $689,000. This was a decline of only 1.5%. This surprised me because we had 15.1% more listings than we had in 05. This again goes against gravity proving that just because you have more of something it doesnt necessarily reflect in the price.
Now lets get a look at the really interesting numbers. On the Home and Estate side we saw a significant gap between what people were willing to buy for and what people were willing to pay. The gap for the entire area of Goleta to Carpinteria for Condos in 2006 was 1%. The Median Sales price was $655,000 and the Median List price was $649,000. So if these two numbers are in agreement, how come there were 27% fewer sales over that time? The Condo market is generally the leader and responds more quickly to the market place. So what this tells us is that while those who are really ready to buy at this time think the price is right, those that are still on the sidelines think theres more room for the prices to drop.
Also I think that there is a general lack of confidence in the market place leading those people who could buy not to buy at this time. I dont think that lack of confidence is warranted, but I do think that it exists.
Lets look at the gap for the rest of the Santa Barbara areas Condo Market. In Carpinteria we have a real anomaly. The Median Sales price of $575,000 is actually above the Median List price of $549,000. This is a gap of -4.7%. In Montecito its even more pronounced. The Median Sales price is $1,692,500 and the Median List price is $1,295,000 for a -30.6% gap. So even though the current prices are almost 1/3 below the Sales Price the units are moving very sluggishly. In all of Montecito there were only 20 condos changed hands for 2006.
East of State St gives us similar numbers with the Median Sales price coming in at $790,000 and the Median List price showing up at $715,000. This is a gap of -9.6%. So with an almost 10% lower List Price from the Sales Price there were about 20% fewer sales for 05 to 06.
On the West Side the Median Sales price of $672,000 is below the Median List price of $680,000 but by only 1.2%. One reason for this is that the number of sales is down markedly from with only 68 condos changing hands, approximately half of the 132 units sold in 05.
In Goleta South the Median Sales price was $585,500 and the Median List price was $549,000 for a -6.1% gap. For this area the number of sales is not as off dramatically as in the West Side showing a decline from 89 units in 05 to 65 for 06.
In Goleta North the Median Sales price was slightly slimmer at -3.9% with the Median Sales price coming in at $600,000 and the Median List price at $579,000.
So the question becomes what will it take for the buyers to start buying and the sellers to start selling? I think there is still some room for prices to come down in the Condo Market but not much more. To me it really comes down to the confidence factor for the Buyers. If they think the Market will firm up and stay where it is then theyll start getting more serious. I hear stories of properties being shown a lot, but the offers still havent come so this tells me there are definitely people in the market place at this time.
In the Home and Estate market I think were in for a pretty substantial price correction. About 10% looks about right for me at this time, but well have to see when we get further into the year. Right now the projection is for sales to remain at about 60 Homes and Estates and 30 Condos to sell per month with further slight erosion in the prices.
All Statistics are based on those from the Santa Barbara Association of Realtors.
For the Santa Barbara Real Estate areas of Goleta Real Estate South for Single Family Homes there were 5 that closed escrow in the last 30 days with a Median Sales Price of $830,000 and an Average Sales Price of $906,980. The average Days on the Market for those properties was 69. 3 properties came on the market with a Median Asking Price of $845,000 and an Average Asking Price of $889,333. 8 properties went into escrow with a Median Asking Price of $799,900 and an Average Asking Price of $793,987. The average Days on the Market for those properties is 78. Currently there are 25 Single Family Residents for sale in the area with a median asking price of $960,000 and an average asking price of $1,197,680. The average Days on the Market for those properties is 100.
For the Santa Barbara Real Estate areas of Goleta Real Estate South for Condominiums there were 5 that closed escrow in the last 30 days with a Median Sales Price of $600,000 and an Average Sales Price of $535,400. The average Days on the Market for those properties was 116. 5 properties came on the market with a Median Asking Price of $529,000 and an Average Asking Price of $560,200. 6 went into escrow with a Median Asking Price of $580,000 and an Average Asking Price of $622,333. The average Days on the Market for those properties is 111. Currently there are 30 Condominiums for sale in the area with a median asking price of $529,000 and an average asking price of $562,500. The average Days on the Market for those properties is 101.
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For the Santa Barbara Real Estate areas of Hope Ranch Real Estate for Single Family Homes there were 3 that closed escrow in the last 30 days with a Median Sales Price of $2,800,000 and an Average Sales Price of $2,845,000. The average Days on the Market for those properties was 154. 0 properties came on the market with a Median Asking Price of $0 and an Average Asking Price of $0. 0 properties went into escrow with a Median Asking Price of $0 and an Average Asking Price of $0. The average Days on the Market for those properties is 0. Currently there are 16 Single Family Residents for sale in the area with a median asking price of $5,995,000 and an average asking price of $6,428,293 The average Days on the Market for those properties is 230.
For the Santa Barbara Real Estate area of Hope Ranch Real Estate for Condominiums there was no activity.
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For the Santa Barbara Real Estate areas of West of State St for Single Family Homes there were 11 that closed escrow in the last 30 days with a Median Sales Price of $923,000 and an Average Sales Price of $1,063,818. The average Days on the Market for those properties was 70. 24 properties came on the market with a Median Asking Price of $995,000 and an Average Asking Price of $1,448,241. 17 properties went into escrow with a Median Asking Price of $1,095,000 and an Average Asking Price of $1,195,882. The average Days on the Market for those properties is 77. Currently there are 90 Single Family Residents for sale in the area with a median asking price of $1,097,000 and an average asking price of $1,438,068 The average Days on the Market for those properties is 97.
For the Santa Barbara Real Estate area of West of State St for Condominiums there was 1 that closed escrow in the last 30 days with a Median Sales Price of $676,000 Average Sales Price of $676,000. The average Days on the Market for those properties was 10. 5 properties came on the market with a Median Asking Price of $645,000 and an Average Asking Price of $751,780. 4 went into escrow with a Median Asking Price of $640,000 and an Average Asking Price of $598,725. The average Days on the Market for those properties is 85. Currently there are 39 Condominiums for sale in the area with a median asking price of $720,000 and an average asking price of $865,589. The average Days on the Market for those properties is 102.
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For the Santa Barbara Real Estate areas of East of State St for Single Family Homes there were 18 that closed escrow in the last 30 days with a Median Sales Price of $1,102,000 and an Average Sales Price of $1,443,000. The average Days on the Market for those properties was 62. 9 properties came on the market with a Median Asking Price of $1,849,000 and an Average Asking Price of $1,685,000. 15 properties went into escrow with a Median Asking Price of $1,160,000 and an Average Asking Price of $1,158,886. The average Days on the Market for those properties is 86. Currently there are 91 Single Family Residents for sale in the area with a median asking price of $1,399,000 and an average asking price of $1,695,213. The average Days on the Market for those properties is 126.
For the Santa Barbara Real Estate areas of East of State St for Condominiums there were 4 that closed escrow in the last 30 days with a Median Sales Price of $710,000 and an Average Sales Price of $805,000. The average Days on the Market for those properties was 50. 5 properties came on the market with a Median Asking Price of $699,000 and an Average Asking Price of $873,400. 7 went into escrow with a Median Asking Price of $859,000 and an Average Asking Price of $826,000. The average Days on the Market for those properties is 87. Currently there are 39 Condominiums for sale in the area with a median asking price of $715,000 and an average asking price of $923,933. The average Days on the Market for those properties is 138.
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