For Santa Barbara Real Estate in Goleta Real Estate North the Price Range Statistics for 1/1/2007 to 8/19/2007 show that there are currently 99 Home and Estate/PUDs on the market. The average price for the 99 properties is $1,828,575; the highest priced listing is $29,500,000, the median listing price is $995,000 and the lowest priced listing is $199,777. The average market time for those properties is 98 days.
There are 14 properties that are currently in escrow. The average price for those homes that entered escrow is $1,405,571. The highest price house is $2,795,000, the median price is $909,000 and the lowest priced house is $770,000. The average market time for the homes is 94.
On the Sales side there has been 99 properties closed escrow. The average price of those 99 homes is $1,218,431 the highest price is $8,200,000, the median price is $970,000 and the lowest priced property is $160,000. The average market time for these homes is 105 days.
For Santa Barbara Real Estate for Goleta Real Estate North the Price Range Statistics for Condominiums there are currently 28 condos currently on the market. The average price for the 28 properties is $591,439, the highest priced listing is $1,279,000, the median listing price is $549,000 and the lowest priced listing is $399,500. The average market time for those properties is 108 days.
There are currently 6 condos that are in escrow. The average price for those homes that entered escrow is $562,612. The highest price house is $759,000, the median price is $509,900 and the lowest priced house is $449,900. The average market time for the homes is 37.
On the Sales side there has been 27 properties close escrow. The average price of those 27 homes is $547,199, the highest price is $1,000,000, the median price is $550,000 and the lowest priced property is $193,200. The average market time for these homes is 115 days.
For Santa Barbara Real Estate in Goleta Real Estate South the Price Range Statistics for 1/1/2007 to 8/19/2007 show that there are currently 52 Home and Estate/PUDs on the market. The average price for the 52 properties is $1,134,188; the highest priced listing is $4,500,000, the median listing price is $869,500 and the lowest priced listing is $599,000. The average market time for those properties is 87 days.
There are 9 properties that are currently in escrow. The average price for those homes that entered escrow is $1,234,222. The highest price house is $2,500,000, the median price is $995,000 and the lowest priced house is $799,000. The average market time for the homes is 40.
On the Sales side there has been 53 properties closed escrow. The average price of those 53 homes is $1,092,405, the highest price is $2,595,000, the median price is $899,000 and the lowest priced property is $625,000. The average market time for these homes is 94 days.
For Santa Barbara Real Estate for Goleta Real Estate South the Price Range Statistics for Condominiums there are currently 41 condos currently on the market. The average price for the 41 properties is $614,150, the highest priced listing is $959,000, the median listing price is $635,000 and the lowest priced listing is $339,500. The average market time for those properties is 80 days.
There are currently 7 condos that are in escrow. The average price for those homes that entered escrow is $652,500. The highest price house is $1,049,500, the median price is $589,000 and the lowest priced house is $335,000. The average market time for the homes is 39.
On the Sales side there has been 53 properties close escrow. The average price of those 53 homes is $546,616, the highest price is $920,000, the median price is $530,000 and the lowest priced property is $270,000. The average market time for these homes is 110 days.
For Santa Barbara Real Estate in Hope Ranch Real Estate the Price Range Statistics for 1/1/2007 to 8/19/2007 show that there are currently 13 Home and Estate/PUDs on the market. The average price for the 13 properties is $7,013,076; the highest priced listing is $39,500,000 the median listing price is $3,850,000 and the lowest priced listing is $1,997,000. The average market time for those properties is 88 days.
There are 4 properties that are currently in escrow. The average price for those homes that entered escrow is $3,111,250. The highest price house is $3,650,000, the median price is $3,050,000 and the lowest priced house is $2,550,000. The average market time for the homes is 72.
On the Sales side there has been 21 properties closed escrow. The average price of those 21 homes is $4,568,809, the highest price is $12,650,000, the median price is $3,350,000 and the lowest priced property is $1,850,000. The average market time for these homes is 158 days.
For Santa Barbara Real Estate for Hope Ranch Real Estate the Price Range Statistics for Condominiums there was no activity.
For Santa Barbara Real Estate in West of State St the Price Range Statistics for 1/1/2007 to 8/19/2007 show that there are currently 105 Home and Estate/PUDs on the market. The average price for the 105 properties is $1,226,797; the highest priced listing is $3,995,000, the median listing price is $1,139,000 and the lowest priced listing is $560,000. The average market time for those properties is 83 days.
There are 17 properties that are currently in escrow. The average price for those homes that entered escrow is $1,281,470. The highest price house is $3,650,000, the median price is $1,099,000 and the lowest priced house is $699,000. The average market time for the homes is 140.
On the Sales side there has been 133 properties closed escrow. The average price of those 133 homes is $1,200,114, the highest price is $4,600,000, the median price is $1,038,500 and the lowest priced property is $525,000. The average market time for these homes is 99 days.
For Santa Barbara Real Estate for West of State St the Price Range Statistics for Condominiums there are currently 49 condos currently on the market. The average price for the 49 properties is $934,702, the highest priced listing is $2,595,000, the median listing price is $749,000 and the lowest priced listing is $424,500. The average market time for those properties is 99 days.
There are currently 12 condos that are in escrow. The average price for those homes that entered escrow is $818,866. The highest price house is $1,595,000, the median price is $679,000 and the lowest priced house is $575,000. The average market time for the homes is 48.
On the Sales side there has been 49 properties close escrow. The average price of those 49 homes is $667,862, the highest price is $1,450,000, the median price is $645,000 and the lowest priced property is $410,000. The average market time for these homes is 125 days.
For Santa Barbara Real Estate in East of State St the Price Range Statistics for 1/1/2007 to 8/19/2007 show that there are currently 137 Home and Estate/PUDs on the market. The average price for the 137 properties is $1,725,910; the highest priced listing is $11,950,000, the median listing price is $1,395,000 and the lowest priced listing is $619,900. The average market time for those properties is 184 days.
There are 27 properties that are currently in escrow. The average price for those homes that entered escrow is $1,705,037. The highest price house is $7,750,000, the median price is $1,365,000 and the lowest priced house is $649,000. The average market time for the homes is 77.
On the Sales side there has been 151 properties closed escrow. The average price of those 151 homes is $1,400,649, the highest price is $9,300,000, the median price is $1,200,000 and the lowest priced property is $455,000. The average market time for these homes is 113 days.
For Santa Barbara Real Estate for East of State St the Price Range Statistics for Condominiums there are currently 50 condos currently on the market. The average price for the 50 properties is $1,300,558, the highest priced listing is $5,950,000, the median listing price is $1,069,000 and the lowest priced listing is $465,000. The average market time for those properties is 65 days.
There are currently 6 condos that are in escrow. The average price for those homes that entered escrow is $1,070,650. The highest price house is $2,250,000, the median price is $559,000 and the lowest priced house is $484,900. The average market time for the homes is 53.
On the Sales side there has been 63 properties close escrow. The average price of those 63 homes is $905,597, the highest price is $1,635,000, the median price is $805,000 and the lowest priced property is $490,000. The average market time for these homes is 131 days.
For Santa Barbara Real Estate in Montecito Real Estate the Price Range Statistics for 1/1/2007 to 8/19/2007 show that there are currently 116 Home and Estate/PUDs on the market. The average price for the 116 properties is $6,421,850; the highest priced listing is $47,000,000, the median listing price is $3,690,000 and the lowest priced listing is $1,299,000. The average market time for those properties is 127 days.
There are 28 properties that are currently in escrow. The average price for those homes that entered escrow is $4,190,821. The highest price house is $22,950,000, the median price is $2,975,000 and the lowest priced house is $1,195,000. The average market time for the homes is 101.
On the Sales side there has been 124 properties closed escrow. The average price of those 124 homes is $3,527,968, the highest price is $18,000,000, the median price is $2,862,500 and the lowest priced property is $675,000. The average market time for these homes is 142 days.
For Santa Barbara Real Estate for Montecito Real Estate the Price Range Statistics for Condominiums there are currently 15 condos currently on the market. The average price for the 15 properties is $1,687,866, the highest priced listing is $3,500,000, the median listing price is $1,525,000 and the lowest priced listing is $885,000. The average market time for those properties is 99 days.
There is currently 1 condo that is in escrow. The average price for the home that entered escrow is $1,025,000. The highest price house is $1,025,000, the median price is $1,025,000 and the lowest priced house is $1,025,000. The average market time for the homes is 146.
On the Sales side there has been `9 properties close escrow. The average price of those 19 homes is $1,799,210 the highest price is $5,000,000, the median price is $1,475,000 and the lowest priced property is $720,000. The average market time for these homes is 141 days.
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For Santa Barbara Real Estate in Carpinteria Real Estate/Summerland Real Estate the Price Range Statistics for 1/1/2007 to 8/19/2007 show that there are currently 58 Home and Estate/PUDs on the market. The average price for the 58 properties is $3,410,896; the highest priced listing is $27,500,000, the median listing price is $1,495,000 and the lowest priced listing is $725,000. The average market time for those properties is 112 days.
There are 7 properties that are currently in escrow. The average price for those homes that entered escrow is $1,862,571. The highest price house is $5,750,000, the median price is $969,000 and the lowest priced house is $795,000. The average market time for the homes is 124.
On the Sales side there has been 46 properties closed escrow. The average price of those 46 homes is $2,906,191, the highest price is $35,000,000, the median price is $1,165,000 and the lowest priced property is $630,000. The average market time for these homes is 136 days.
For Santa Barbara Real Estate for Carpinteria Real Estate/Summerland Real Estate the Price Range Statistics for Condominiums there are currently 51 condos currently on the market. The average price for the 51 properties is $615,965, the highest priced listing is $1,395,000, the median listing price is $579,900 and the lowest priced listing is $375,000. The average market time for those properties is 118 days.
There are currently 5 condos that are in escrow. The average price for those homes that entered escrow is $518,400. The highest price house is $649,000, the median price is $480,000 and the lowest priced house is $415,000. The average market time for the homes is 79.
On the Sales side there has been 31 properties close escrow. The average price of those 31 homes is $574,104, the highest price is $850,000, the median price is $555,000 and the lowest priced property is $418,000. The average market time for these homes is 139 days.
In the Goleta Real Estate North area of Santa Barbara Real Estate for the Condo Market the number of total listings for 07 versus what was on the market last year at this time is exactly the same as it was last year for a total of 89 properties that have been active this year but the New Listings that came on this year are down by 9 for an -12% decrease. The number of sales is down for a -6% decrease, and the Average Sales Price is down. Last year at this time it was $634,069 and this year its at $558,014 for a decrease of -11%.
In the Single Family Home market for the Santa Barbara Real Estate area of Goleta Real Estate North there are 15 more properties that have been active this year as opposed to last year for a total of 248, but there are fewer new listings this year with 194 for last year vs. 187 for this year. The sales are exactly the same with 92 this year vs. 92 last year for a 0% increase. But the Average Sales Price is up from $1,039,489 last year to $1,225,785 this year for a 17% increase.
In the Planned Unit Development Market of the Santa Barbara Real Estate area of Goleta Real Estate North there are 4 more properties that have been active this year as opposed to last year for a total of 17 but there are fewer new listing with 13 for last year vs. 12 for this year. The sales are up with 9 this year vs. 5 last year for an 80% increase. And the Average Sales Price is up from $909,780 last year to $1,009,611 this year for a 10% increase.
In the Goleta Real Estate South area of Santa Barbara Real Estate for the Condo Market the number of total listings for 07 versus what was on the market last year at this time is down by 18 for a total of 119 properties that have been active this year and the New Listings that came on this year are down by 13 for an -12% decrease. The number of sales is up for a 31% increase, but the Average Sales Price is down. Last year at this time it was $585,655 and this year its at $563,147 for a decrease of -3%.
In the Single Family Home market for the Santa Barbara Real Estate area of Goleta Real Estate South there are 6 fewer properties that have been active this year as opposed to last year for a total of 144, but there are more new listings this year with 113 for last year vs. 122 for this year. The sales are down with 47 this year vs. 57 last year for a -17% decrease. But the Average Sales Price is up from $1,022,468 last year to $1,077,394 this year for an 5% increase.
In the Planned Unit Development Market of the Santa Barbara Real Estate area of Goleta Real Estate South there is 1 less property that has been active this year as opposed to last year for a total of 11 and there are fewer new listing with 12 for last year vs. 10 for this year. The sales are up with 7 this year vs. 5 last year for a 40% increase. And the Average Sales Price is up from $1,069,000 last year to $1,104,571 this year for a 3% increase.
In the Hope Ranch Real Estate area of Santa Barbara Real Estate for the Condo Market there was no activity
In the Single Family Home market for the Santa Barbara Real Estate area of Hope Ranch Real Estate there are exactly the same numbers of properties that have been active this year as opposed to last year for a total of 47, but there are fewer new listings this year with 33 for last year vs. 32 for this year. The sales are up with 11 this year vs. 26 last year for a 136% increase. And the Average Sales Price is up from $2,481,667 last year to $4,610,682 this year for an 85% increase.
In the Planned Unit Development Market of the Santa Barbara Real Estate area of Hope Ranch Real Estate there are 2 fewer properties that have been active this year as opposed to last year for a total of 0 and there are fewer new listing with 2 for last year vs. 0 for this year. The sales are down with 0 this year vs. 1 last year for a -100% decrease. And the Average Sales Price is down from $1,150,000 last year to $0 this year for a -100% decrease.
In the West of State St area of Santa Barbara Real Estate for the Condo Market the number of total listings for 07 versus what was on the market last year at this time is up by 5 for a total of 160 properties that have been active this year but the New Listings that came on this year are down by 16 for an -11% decrease. The number of sales is up for a 27% increase, but the Average Sales Price is up. Last year at this time it was $728,817 and this year its at $671,279 for a decrease of -7%.
In the Single Family Home market for the Santa Barbara Real Estate area of West of State St there are 5 more properties that have been active this year as opposed to last year for a total of 335, but there are fewer new listings this year with 270 for last year vs. 249 for this year. The sales are up with 137 this year vs. 124 last year for a 10% increase. And the Average Sales Price is up from $1,141,943 last year to $1,236,388 this year for an 8% increase.
In the Planned Unit Development Market of the Santa Barbara Real Estate area of West of State St there are 9 more properties that have been active this year as opposed to last year for a total of 17 and there are more new listing with 7 for last year vs. 13 for this year. The sales are up with 2 this year vs. 1 last year for a 100% increase. And the Average Sales Price is up from $1,040,000 last year to $1,237,000 this year for an 18% increase.
In the East of State St area of Santa Barbara Real Estate for the Condo Market the number of total listings for 07 versus what was on the market last year at this time is down by 16 for a total of 159 properties that have been active this year and the New Listings that came on this year are down by 25 for an -17% decrease. The number of sales is up for a 24% increase, and the Average Sales Price is up. Last year at this time it was $896,329 and this year its at $922,679 for an increase of 2%.
In the Single Family Home market for the Santa Barbara Real Estate area of East of State St there are 20 fewer properties that have been active this year as opposed to last year for a total of 427, and there are fewer new listings this year with 347 for last year vs. 331 for this year. The sales are up with 154 this year vs. 166 last year for a 7% increase. But the Average Sales Price is down from $1,520,367 last year to $1,394,402 this year for a -8% decrease.
In the Planned Unit Development Market of the Santa Barbara Real Estate area of East of State St there are exactly the same numbers of properties that have been active this year as opposed to last year for a total of 5 and there are exactly the same number of new listing with 4 for last year vs. 4 for this year. The sales are down with 1 this year vs. 2 last year for a -50% decrease. And the Average Sales Price is down from $1,095,000 last year to $1,050,000 this year for a -4% decrease.
In the Montecito Real Estate area of Santa Barbara Real Estate for the Condo Market the number of total listings for 07 versus what was on the market last year at this time is down by 16 for a total of 42 properties that have been active this year and the New Listings that came on this year are down by 15 for a -35% decrease. The number of sales is up for a 125% increase, and the Average Sales Price is up. Last year at this time it was $1,626,500 and this year its at $1,767,609 for an increase of 8%.
In the Single Family Home market for the Santa Barbara Real Estate area of Montecito Real Estate there are 15 more properties that have been active this year as opposed to last year for a total of 355, but there are fewer new listings this year with 240 for last year vs. 236 for this year. The sales are up with 132 this year vs. 116 last year for a 13% increase. But the Average Sales Price is down from $3,765,163 last year to $3,511,675 this year for a -6% decrease.
In the Planned Unit Development Market of the Santa Barbara Real Estate area of Montecito Real Estate there are fewer properties that have been active this year as opposed to last year for a total of 1and there are fewer new listing with 2 for last year vs. 0 for this year. The sales are down with 1 this year vs. 2 last year for a -50% decrease. And the Average Sales Price is down from $1,775,000 last year to $2,325,000 this year for a 30% increase.
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In the Carpinteria Real Estate/Summerland Real Estate area of Santa Barbara Real Estate for the Condo Market the number of total listings for 07 versus what was on the market last year at this time is down by 4 for a total of 135 properties that have been active this year and the New Listings that came on this year are down by 12 for an -11% decrease. The number of sales is exactly where it was last year for a 0% increase, and the Average Sales Price is down. Last year at this time it was $652,929 and this year its at $575,852 for a decrease of -11%.
In the Single Family Home market for the Santa Barbara Real Estate area of Carpinteria Real Estate/Summerland Real Estate there are 7 fewer properties that have been active this year as opposed to last year for a total of 139, and there are fewer new listings this year with 104 for last year vs. 99 for this year. The sales are up with 48 this year vs. 40 last year for a 20% increase. But the Average Sales Price is down from $3,077,025 last year to $2,952,694 this year for a -4% decrease.
In the Planned Unit Development Market of the Santa Barbara Real Estate area of Carpinteria Real Estate/ a href="http://www.santabarbaraproperties.com/Summerland.html" target="_blank">Summerland Real Estate there are 2 more properties that have been active this year as opposed to last year for a total of 7 and there are 3 more new listing with 3 for last year vs. 6 for this year. The sales are down with 2 this year vs. 3 last year for a -33% decrease. And the Average Sales Price is down from $1,016,333 last year to $752,500 this year for a -25% decrease.
Ive been thinking about writing a Blog post on the Mortgage Market for a while but when a newsletter arrived in my mailbox from my friend Carol Taylor of @ Home Lending of Ventura I decided to print her well written concise report on what has gone on and where were going.
She wrote, As you are all aware the mortgage industry is experiencing very challenging times. I'd like to share with you what is really happening in the capital markets and what the future holds.
The last time our Industry saw a similar event occur in the capital markets was in 1998. Lenient lending standards had combined with a weaker economy to produce enormous losses in sub-prime loans. A capital markets liquidity crisis subsequently resulted that lasted for several months. Once that liquidity crisis subsided - just as the current one will -we witnessed the most important and sustained rally in interest rates, credit markets, and housing values in the history of our industry. From 1999 to 2006, unprecedented home price appreciation and a very strong economy encouraged more creative mortgage products and loosening of credit standards. The capital markets were happy to oblige our industry and invest in these loans as world-wide demand increased for financial assets with good returns. In fact, demand for mortgages became so much greater than supply that the yields received for all types of mortgage risk were reduced to levels never before seen in the capital markets.
These new investors in mortgage credit risk - with names like "CDOs" and "Hedge Funds" - began using increasing amounts of leverage to maintain their returns as yields fell. In far too many cases, these investors were inexperienced in the U.S. mortgage market and did not have the resources to properly assess the risks they were taking.
Last year it became clear, that the performance of some of the riskier loan types was quickly deteriorating. This trend was most pronounced in sub-prime loans, but was also true for some Alt-A loans. As a result, many of the highly-leveraged investors who had invested in riskier mortgages began to take losses. Over the past several months, that trend has worsened, several high-profile hedge funds collapsed and many other investors have also been wiped-out. An important part of the mortgage lending "food chain" has been effectively eliminated.
While this was unfolding, many lenders were slow to respond to the situation and continued to produce massive amounts of riskier loans at prices that did not reflect the growing liquidity risks in the secondary markets. With no way to sell bonds to investors and the originator supply continuing to flow, Wall Street dealers who are the intermediaries between originators and end investors - lost their ability to provide liquidity. Not surprisingly, finding themselves unable to sell the loans made at "old" prices. As a result, prices paid in the capital markets for all mortgage types - even "prime" loans - are falling. In short, we are watching elephants trying to fit through a keyhole.
While most of the credit losses have been contained to sub-prime and Alt-A, even prime markets are feeling the liquidity crunch. There has been a "flight-to-quality" away from even prime mortgages and into Treasuries. As a result, Treasury yields and mortgage yields have become decoupled as investors sell mortgages in order to buy Treasuries.
Carols report continues by saying that despite the current problems there is some good news, and that new is that there are still lenders out there who have not suffered tremendous losses and are well positioned and re-focused on new product and feature development that is less credit intensive. She concludes by saying that 100% financing is still available and stated income products are still viable.
For more information you can call Carol Taylor of @ Home Lending at (805) 650-6333.
For the Santa Barbara Real Estate area of Goleta Real Estate North for the first 7 months of 07 in the Single Family Home market 91 homes closed escrow with a median sold price of $970,000 and an average sold price of $1,213,980. 170 homes came on the market with a median asking price of $999,000 and an average asking price of $1,540,037. Also for that period 104 properties went into escrow, 15 were withdrawn from the market, 24 listings cancelled, 45 expired and 39 came back on the market. Currently there are 91 homes for sale in the area with a median list price of $999,000 and an average list price of $1,884,584.
For the Santa Barbara Real Estate area of Goleta Real Estate North for the first seven months of 07 in the Condo market 25 condos closed escrow with a median sold price of $550,000 and an average sold price of $546,815. 51 condos came on the market with a median asking price of $569,000 and an average asking price of $572,884. Also for that period 26 properties went into escrow, 4 were withdrawn from the market, 11 listings cancelled, 18 expired and 7 came back on the market. Currently there are 31 condos for sale in the area with a median list price of $549,000 and an average list price of $561,522.
For the Santa Barbara Real Estate area of Goleta Real Estate South for the first 7 months of 07 in the Single Family Home market 48 homes closed escrow with a median sold price of $874,500 and an average sold price of $1,068,802. 111 homes came on the market with a median asking price of $899,500 and an average asking price of $1,080,130. Also for that period 130 properties went into escrow, 7 were withdrawn from the market, 19 listings cancelled, 24 expired and 19 came back on the market. Currently there are 52 homes for sale in the area with a median list price of $869,000 and an average list price of $1,130,609.
For the Santa Barbara Real Estate area of Goleta Real Estate South for the first seven months of 07 in the Condo market 48 condos closed escrow with a median sold price of $529,500 and an average sold price of $545,596. 84 condos came on the market with a median asking price of $575,000 and an average asking price of $586,130. Also for that period 49 properties went into escrow, 8 were withdrawn from the market, 12 listings cancelled, 24 expired and 14 came back on the market. Currently there are 39 condos for sale in the area with a median list price of $660,000 and an average list price of $614,697.
For the Santa Barbara Real Estate area of Hope Ranch Real Estate for the first 7 months of 07 in the Single Family Home market 20 homes closed escrow with a median sold price of $3,650,000 and an average sold price of $4,682,250. 28 homes came on the market with a median asking price of $3,195,000 and an average asking price of $5,462,571. Also for that period 22 properties went into escrow, 2 were withdrawn from the market, 2 listings cancelled, 8 expired and 6 came back on the market. Currently there are 13 homes for sale in the area with a median list price of $3,050,000 and an average list price of $6,979,076.
For the Santa Barbara Real Estate area of Hope Ranch Real Estate for the first seven months of 07 in the Condo market there was no activity.
For the Santa Barbara Real Estate area of West of State St for the first 7 months of 07 in the Single Family Home market 116 homes closed escrow with a median sold price of $1,039,500 and an average sold price of $1,195,340. 220 homes came on the market with a median asking price of $1,099,000 and an average asking price of $1,243,637. Also for that period 130 properties went into escrow, 17 were withdrawn from the market, 53 listings cancelled, 46 expired and 33 came back on the market. Currently there are 103 homes for sale in the area with a median list price of $1,099,000 and an average list price of $1,223,502.
For the Santa Barbara Real Estate area of West of State St for the first seven months of 07 in the Condo market 47 condos closed escrow with a median sold price of $645,000 and an average sold price of $669,781. 104 condos came on the market with a median asking price of $679,000 and an average asking price of $795,355. Also for that period 56 properties went into escrow, 19 were withdrawn from the market, 23 listings cancelled, 35 expired and 28 came back on the market. Currently there are 51 condos for sale in the area with a median list price of $699,000 and an average list price of $864,780.
For the Santa Barbara Real Estate area of East of State St for the first 7 months of 07 in the Single Family Home market 142 homes closed escrow with a median sold price of $1,200,000 and an average sold price of $1,379,824. 288 homes came on the market with a median asking price of $1,329,000 and an average asking price of $1,608,883. Also for that period 165 properties went into escrow, 32 were withdrawn from the market, 41 listings cancelled, 64 expired and 62 came back on the market. Currently there are 131 homes for sale in the area with a median list price of $1,395,000 and an average list price of $1,761,044.
For the Santa Barbara Real Estate area of East of State St for the first seven months of 07 in the Condo market 63 condos closed escrow with a median sold price of $817,500 and an average sold price of $906,612. 103 condos came on the market with a median asking price of $899,000 and an average asking price of $1,125,849. Also for that period 64 properties went into escrow, 9 were withdrawn from the market, 12 listings cancelled, 18 expired and 16 came back on the market. Currently there are 51 condos for sale in the area with a median list price of $1,050,000 and an average list price of $1,309,919.
For the Santa Barbara Real Estate area of Montecito Real Estate for the first 7 months of 07 in the Single Family Home market 117 homes closed escrow with a median sold price of $2,900,000 and an average sold price of $3,586,035. 193 homes came on the market with a median asking price of $3,225,000 and an average asking price of $4,846,981. Also for that period 123 properties went into escrow, 24 were withdrawn from the market, 29 listings cancelled, 64 expired and 45 came back on the market. Currently there are 115 homes for sale in the area with a median list price of $3,695,000 and an average list price of $6,517,135.
For the Santa Barbara Real Estate area of Montecito Real Estate for the first seven months of 07 in the Condo market 19 condos closed escrow with a median sold price of $1,475,000 and an average sold price of $1,779,210. 21 condos came on the market with a median asking price of $1,275,000 and an average asking price of $1,706,190. Also for that period 14 properties went into escrow, 2 were withdrawn from the market, 4 listings cancelled, 6 expired and 3 came back on the market. Currently there are 9 condos for sale in the area with a median list price of $1,099,000 and an average list price of $1,481,888.
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For the Santa Barbara Real Estate area of Carpinteria Real Estate/Summerland Real Estate for the first 7 months of 07 in the Single Family Home market 41 homes closed escrow with a median sold price of $1,179,000 and an average sold price of $3,113,182. 94 homes came on the market with a median asking price of $1,179,000 and an average asking price of $2,502,323. Also for that period 45 properties went into escrow, 8 were withdrawn from the market, 13 listings cancelled, 26 expired and 16 came back on the market. Currently there are 59 homes for sale in the area with a median list price of $1,295,000 and an average list price of $2,901,474.
For the Santa Barbara Real Estate area of Carpinteria Real Estate/Summerland Real Estate for the first seven months of 07 in the Condo market 29 condos closed escrow with a median sold price of $559,000 and an average sold price of $581,112. 84 condos came on the market with a median asking price of $549,000 and an average asking price of $612,314. Also for that period 34 properties went into escrow, 6 were withdrawn from the market, 20 listings cancelled, 39 expired and 13 came back on the market. Currently there are 51 condos for sale in the area with a median list price of $535,000 and an average list price of $615,397.
For the Santa Barbara Real Estate market area from Goleta to Carpinteria including Hope Ranch, Montecito and Summerland for Home Estate/PUDs the number of Active listings that have been on the market this year is up by only about 1.8%. At this time last year we saw 1,613 houses for sale and this year we've seen 1,642. But, the number of New Listings that came on the market this year is down slightly with 1,116 in '06 vs. 1,107 in '07 for a 0.81% decline in the available inventory.
The interesting numbers to me are that with almost exactly the same number of Home Estate/PUDs to sell the number of escrows is up 16%. In '06 to the end of July there were 555 escrows and for '07 there have been 644. To amplify on those numbers, in '06 out of those 555 escrows that opened 508 properties completed the escrow process and sold while in '07 the 644 escrows have yielded 586 sales. This is an increase of 15.5%.
With the increased number of sales we have also seen an increase in the Median Sales Price for the entire area. Last year it was $1,201,350 and this year it's at $1,250,000, up 4.1%. This increase in the Median Sales Price is being driven by activity in both Montecito and Hope Ranch which tend to have sales at the upper end of the market, but if we take those two areas out of the equation we see a Median Sales price of $1,067,500 for '06 as opposed to $1,049,000 for '07 which is a decline of 1.7%. Looking at those same numbers last month at this time we saw a 3.8% decline in the Median Sales price year over year which means that there has been increased activity in the $ 1 million to $2 million range throughout the area, not just in Hope Ranch and Montecito.
The numbers become even more dramatic if you look at the Average Sold price as opposed to the Median Sold price for the entire area. In '06 the Average Sales price was $1,855,585 while in '07 it's been $1,966,697 for a 6% increase. Even when you take Montecito and Hope Ranch out of the mix the numbers are up. For '06 the average sales price was $1,379,518 and for '07 it's been $1,418,821 a 2.8% increase.
Because of the substantial increase in the $2 million and up market the overall Sold Volume for the area has increased dramatically. In '06 at this time $942 million worth of Real Estate had closed escrow and in '07 $1,152 billion worth of Real Estate has closed. This is an increase in sold volume of 22.3%.
Over on the Condo side of the ledger things are a little different. The total
number of active listings which have been on the market is down 5.1%. In '06 we had 723 condos on the market and in '07 we've had 688. The numbers are more substantial for New Listings. In '06 we saw 528 new listings come on the market and in '07 we've seen only 450. This is a 16.7% decline in the number of available condos.
But, despite a noteworthy fewer number of listings to sell the number of escrows is up 26%. Last year to this time we had 193 escrows and this year we've seen 245. To go with the increased number of escrows is an increased number of sales. The number of sold properties for '06 was 186 and for '07 it's been 234. This is an increase of 24.5%. This means that while the inventory is down by almost 17% the number of sales is up almost 25%.
One of the things spurring that increase in activity is the decline of the Median Sales price for the entire area. Last year it was $672,500 and this year it's been $630,000 for a decrease of 6.7%. The interesting number here is that if you take Montecito out of the mix the decline is only 6.2% from $659,000 last year to $629,000 this year which is a reflection of the fact that there have been only 23 condos that have closed escrow in Montecito in '07.
Looking at the Average Sold price instead of the Median Sold price we see an increase of 2.6% for the entire area. It went from $757,070 last year to $776,421 this year. But if you take Montecito out of the mix there's a decline of 3.6% from $712,862 in '06 to $687,802 in '07.
Just like with Home Estate/PUDs the really big numbers that stands out for you is the overall Sold Volume of condos. In '06 it was $140 million at this time and in '07 it's been $181 million for an increase of 28.5%.
So despite national trends the Santa Barbara Real Estate market is headed in the right direction. The number of sales is up with a 16% increase for Home Estate/PUDs and a 24.5% increase for Condos. The Median Sales price for Homes is up 4.1% for the entire are and only off 1.7% if you take Hope Ranch and Montecito out of the mix. And the overall volume is up dramatically with a 22.3% increase for Home Estate PUDs and a 28.5% increase for Condos.
If trends continue the way they've been going, the numbers for the area while not record breaking are certainly stronger than the ones being written about in the rest of the country. Santa Barbara Real Estate remains strong and is moving forward.
For the Santa Barbara Real Estate areas of Goleta Real Estate North for Single Family Homes there were 14 that closed escrow in the last 30 days with a Median Sales Price of $897,500 and an Average Sales Price of $1,094,928. The average Days on the Market for those properties was 52. 22 properties came on the market with a Median Asking Price of $979,000 and an Average Asking Price of $1,390,813. 15 properties went into escrow with a Median Asking Price of $909,000 and an Average Asking Price of $1,147,293. The average Days on the Market for those properties is 69. Currently there are 89 Single Family Residents for sale in the area with a median asking price of $999,000 and an average asking price of $1,942,149. The average Days on the Market for those properties is 99.
For the Santa Barbara Real Estate areas of Goleta Real Estate North for Condominiums there were 2 that closed escrow in the last 30 days with a Median Sales Price of $504,875 and an Average Sales Price of $504,875. The average Days on the Market for those properties was 87. 5 properties came on the market with a Median Asking Price of $589,000 and an Average Asking Price of $578,200. 4 went into escrow with a Median Asking Price of $549,000 and an Average Asking Price of $569,225. The average Days on the Market for those properties is 65. Currently there are 30 Condominiums for sale in the area with a median asking price of $549,000 and an average asking price of $567,235. The average Days on the Market for those properties is 98.
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 $935,000 and an Average Sales Price of $1,296,200. The average Days on the Market for those properties was 25. 17 properties came on the market with a Median Asking Price of $975,000 and an Average Asking Price of $986,599. 12 properties went into escrow with a Median Asking Price of $995,000 and an Average Asking Price of $1,236,250. The average Days on the Market for those properties is 65. Currently there are 53 Single Family Residents for sale in the area with a median asking price of $884,500 and an average asking price of $1,116,296. The average Days on the Market for those properties is 75.
For the Santa Barbara Real Estate areas of Goleta Real Estate South for Condominiums there were 8 that closed escrow in the last 30 days with a Median Sales Price of $534,500 and an Average Sales Price of $541,062. The average Days on the Market for those properties was 60. 16 properties came on the market with a Median Asking Price of $718,000 and an Average Asking Price of $654,181. 7 went into escrow with a Median Asking Price of $575,000 and an Average Asking Price of $554,842. The average Days on the Market for those properties is 22. Currently there are 42 Condominiums for sale in the area with a median asking price of $635,000 and an average asking price of $622,397. The average Days on the Market for those properties is 75.
For the Santa Barbara Real Estate areas of Hope Ranch Real Estate for Single Family Homes there were 5 that closed escrow in the last 30 days with a Median Sales Price of $3,950,000 and an Average Sales Price of $3,765,000. The average Days on the Market for those properties was 115. 3 properties came on the market with a Median Asking Price of $3,650,000 and an Average Asking Price of $4,381,666. 2 properties went into escrow with a Median Asking Price of $3,650,000 and an Average Asking Price of $3,922,500. The average Days on the Market for those properties is 29. Currently there are 12 Single Family Residents for sale in the area with a median asking price of $2,995,000 and an average asking price of $7,211,083. The average Days on the Market for those properties is 93.
For the Santa Barbara Real Estate areas of Hope Ranch Real Estate for Condominiums there was no activity.
For the Santa Barbara Real Estate areas of West of State St for Single Family Homes there were 19 that closed escrow in the last 30 days with a Median Sales Price of $1,075,000 and an Average Sales Price of $1,365,473. The average Days on the Market for those properties was 39. 34 properties came on the market with a Median Asking Price of $985,000 and an Average Asking Price of $1,230,452. 14 properties went into escrow with a Median Asking Price of $985,000 and an Average Asking Price of $1,039,285. The average Days on the Market for those properties is 85. Currently there are 104 Single Family Residents for sale in the area with a median asking price of $1,139,000 and an average asking price of $1,257,632. The average Days on the Market for those properties is 81.
For the Santa Barbara Real Estate areas of West of State St for Condominiums there were 8 that closed escrow in the last 30 days with a Median Sales Price of $627,500 and an Average Sales Price of $628,687. The average Days on the Market for those properties was 74. 17 properties came on the market with a Median Asking Price of $635,500 and an Average Asking Price of $753,870. 6 went into escrow with a Median Asking Price of $635,500 and an Average Asking Price of $718,916. The average Days on the Market for those properties is 63. Currently there are 54 Condominiums for sale in the area with a median asking price of $684,900 and an average asking price of $840,246. The average Days on the Market for those properties is 85.
For the Santa Barbara Real Estate areas of East of State St for Single Family Homes there were 25 that closed escrow in the last 30 days with a Median Sales Price of $1,575,000 and an Average Sales Price of $1,647,340. The average Days on the Market for those properties was 85. 48 properties came on the market with a Median Asking Price of $1,450,000 and an Average Asking Price of $1,693,685. 21 properties went into escrow with a Median Asking Price of $1,399,000 and an Average Asking Price of $1,570,571. The average Days on the Market for those properties is 56. Currently there are 137 Single Family Residents for sale in the area with a median asking price of $1,479,000 and an average asking price of $1,777,305. The average Days on the Market for those properties is 76.
For the Santa Barbara Real Estate areas of East of State St for Condominiums there were 7 that closed escrow in the last 30 days with a Median Sales Price of $612,000 and an Average Sales Price of $875,328. The average Days on the Market for those properties was 85. 23 properties came on the market with a Median Asking Price of $1,179,000 and an Average Asking Price of $1,719,695. 8 went into escrow with a Median Asking Price of $625,000 and an Average Asking Price of $946,237. The average Days on the Market for those properties is 31. Currently there are 52 Condominiums for sale in the area with a median asking price of $979,000 and an average asking price of $1,284,442 The average Days on the Market for those properties is 64.
For the Santa Barbara Real Estate areas of Montecito Real Estate for Single Family Homes there were 15 that closed escrow in the last 30 days with a Median Sales Price of $2,200,000 and an Average Sales Price of $3,048,333. The average Days on the Market for those properties was 72. 23 properties came on the market with a Median Asking Price of $3,325,000 and an Average Asking Price of $6,003,591. 18 properties went into escrow with a Median Asking Price of $2,650,000 and an Average Asking Price of $3,563,555. The average Days on the Market for those properties is 70. Currently there are 124 Single Family Residents for sale in the area with a median asking price of $3,585,000 and an average asking price of $6,241,400. The average Days on the Market for those properties is 125.
For the Santa Barbara Real Estate areas of Montecito Real Estate for Condominiums there were 3 that closed escrow in the last 30 days with a Median Sales Price of $1,800,000 and an Average Sales Price of $2,250,000. The average Days on the Market for those properties was 74. 0 properties came on the market with a Median Asking Price of $0 and an Average Asking Price of $0. 1 went into escrow with a Median Asking Price of $1,025,000 and an Average Asking Price of $1,025,000. The average Days on the Market for those properties is 146. Currently there are 9 Condominiums for sale in the area with a median asking price of $1,099,000 and an average asking price of $1,481,888 The average Days on the Market for those properties is 124.
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For the Santa Barbara Real Estate areas of Carpinteria Real Estate/Summerland Real Estate for Single Family Homes there were 11 that closed escrow in the last 30 days with a Median Sales Price of $830,000 and an Average Sales Price of $940,590. The average Days on the Market for those properties was 58. 7 properties came on the market with a Median Asking Price of $2,095,000 and an Average Asking Price of $4,094,857. 8 properties went into escrow with a Median Asking Price of $839,000 and an Average Asking Price of $1,061,812. The average Days on the Market for those properties is 69. Currently there are 58 Single Family Residents for sale in the area with a median asking price of $1,395,000 and an average asking price of $2,938,567. The average Days on the Market for those properties is 104.
For the Santa Barbara Real Estate areas of Carpinteria Real Estate/Summerland Real Estate for Condominiums there were 6 that closed escrow in the last 30 days with a Median Sales Price of $499,125 and an Average Sales Price of $496,041. The average Days on the Market for those properties was 51. 9 properties came on the market with a Median Asking Price of $489,000 and an Average Asking Price of $589,333. 3 went into escrow with a Median Asking Price of $549,000 and an Average Asking Price of $562,666. The average Days on the Market for those properties is 104. Currently there are 52 Condominiums for sale in the area with a median asking price of $529,000 and an average asking price of $613,081 The average Days on the Market for those properties is 118.
For Santa Barbara Real Estate in Goleta Real Estate North the Price Range Statistics for 1/1/2007 to 7/19/2007 show that there are currently 90 Home and Estate/PUDs on the market. The average price for the 90 properties is $1,865,224; the highest priced listing is $26,400,000 the median listing price is $995,000 and the lowest priced listing is $199,777. The average market time for those properties is 95 days.
There are 16 properties that are currently in escrow. The average price for those homes that entered escrow is $1,297,968. The highest price house is $2,249,000, the median price is $924,500 and the lowest priced house is $778,000. The average market time for the homes is 53.
On the Sales side there has been 86 properties closed escrow. The average price of those 86 homes is $1,219,444, the highest price is $8,200,000, the median price is $970,000 and the lowest priced property is $160,000. The average market time for these homes is 108 days.
For Santa Barbara Real Estate for Goleta Real Estate North the Price Range Statistics for Condominiums there are currently 30 condos currently on the market. The average price for the 30 properties is $571,385, the highest priced listing is $849,000, the median listing price is $549,000 and the lowest priced listing is $399,500. The average market time for those properties is 92 days.
There are currently 4 condos that are in escrow. The average price for those homes that entered escrow is $563,225. The highest price house is $615,000, the median price is $549,000 and the lowest priced house is $509,900. The average market time for the homes is 63.
On the Sales side there has been 24 properties close escrow. The average price of those 24 homes is $544,599, the highest price is $1,000,000, the median price is $550,000 and the lowest priced property is $193,200. The average market time for these homes is 118 days.