On the Saturday September 29th show we talked about the opening for Commissions and Advisory Panels for the city. You can give them a look at the city’s website http://www.santabarbaraca.gov/home.htm. If you want to have a say in city government this is a great place to start.
We also talked about the fact that the city is going to give back to the city of Carpinteria a portion of Carpinteria that’s been owned by Santa Barbara for as long as anyone can remember.
There are some great events going on for the weekend, many off which are happening at the city library at Anacapa and Anapamu. Among those events is a writer’s fair. As the Mayor said, we’re entering festival season, so hang on to your hat and go out and get involved.
For the Hope Ranch Real Estate area of Santa Barbara Real Estate the sales have remained rather stable throughout the year. Through July we had 19 sales and through September we’ve had 25. The Median Sales price has dropped slightly from $3,950,000 two months ago to the current $3,650,000. But with the slight decline of the Median Sales price we’ve seen a rise in the Average Sales price. Two months ago it was $760,263 to the current $4,897,800. With these slightly fluctuations we’ve also seen very little change in the Sales Price to Original List price numbers. In July we saw 95.29% and now we’re looking at 95.32%. The one really bright number in all this is the Days on the Market has dropped by 3 weeks. Two months ago it took 128 to get your house into escrow and now it takes only 107.
For Condominiums in Hope Ranch Real Estate there was no activity.
For the West of State St area of Santa Barbara Real Estate sales have increased slightly. In July we had 107 properties close escrow, and currently we see 143. The Median Sold price and the Average Sold price are almost exactly where they’ve been all year. Two months ago the Median Sales price was $1,039,000 now it’s $1,040,000. And the Average Sales price was $1,208,220 compared to the current $1,212,382. There is also only 3 days difference between 2 months ago and today. In July it was 63 and in September it’s been 66. The Sales Price to Original List Price ratio is also very close. In September it’s at 91.84% and two months ago it was at 91.96%.
For Condominiums West of State St for the Santa Barbara Real Estate the rate of sales has been steady throughout the year. Two months ago we had 44 sales and now we have 57. The Median Sales price is $3,000 more than it was two months ago posting a mark of $645,000 as opposed to $642,500 in July. The Average Sale price is only slightly wider with $668,857 in July and $687,416 currently. The Days on the Market are also very close with only 1 day separating the two figures. In July we saw 95 Days on the Market and now we see 94. Also, there’s a very small difference in the Sales Price to Original List Price. In July it was 92.76% and currently it’s at 93%.
For Santa Barbara Real Estate East of State St just as with the other districts in the area sales have remained steady. Through July we saw 131 sales and through September we’ve seen 166. Unlike the other areas however we’ve seen a growth in the Median Sales price. It was $1,175,000 two months ago and currently it’s at $1,228,500. The Average Sales price has also risen from $1,359,749 to the current $1,415,117. To further amplify on activity East of State St the Days on the Market has declined from 81 in July to 74 in September. The other number that has remained constant through the year is the Sales Price to Original List Price. It’s been right at about 92.5% meaning that a home listed for $1,000,000 would be sold for $925,000.
East of State St for Santa Barbara Real Estate Condos have slowed slightly however. From the 61 condo sales of two months ago to the 72 currently sold through September. This means that about 1 condo per month less is closing escrow. The Median Sales price has also fallen slightly. In July that number was $817,500 and now it’s the current $802,500. The Average Sales price has also dipped a bit from $912,321 two months ago to $889,839 currently. The good news in all that is that it currently takes about a week less for your Condo to go into escrow as opposed to two months ago. Finally, the Sold Price to Original List Price has remarkably stayed at 92.6% for the whole year.
For the Santa Barbara Real Estate are of Montecito Real Estate through July there were 111 sales and currently there have been 141. This average has been remarkably stable throughout the year with about 15 properties closing escrow every month. Both the Median and Average sales prices have also stayed remarkably stable throughout those periods with only a few thousand dollars separating the two months. Also tracking at the same level has been the Sales Price to Original List Price which been at about 91.5% all year. This means that if a property was listed for $1,000,000 that the sale price was $915,000. And to finish the Home Estate section out the Days on the Market have been exactly the same for the entire year at 103. A remarkably display of consistency.
On the Montecito Real Estate Condominium side of the ledger we see that Condo sales have slowed rather dramatically. For the first 7 months there were 19 condos that closed escrow and for the past two months we’ve seen only 2 added to that number. With the slow down of Condos there has been a slight decline in the Median sales to $1,700,238 from $1,779,210. Also the average sales price has fallen from $1,475,000 two months to the current $1,250,000. Likewise the Days on the Market have slowed slightly by a total of 6 days. At least part of the slow down in Montecito Condos is the dramatic sales rate we saw earlier in the year. The inventory is not that large so a slowing was inevitable. But even with the slowing the Median Sale price has remained rather constant.
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For Santa Barbara Real Estate for ’07 in Carpinteria Real Estate/Summerland Real Estate through July 35 homes had closed escrow through September it’s been 51 meaning that the market has been about where it’s been all year. The Median sales price has fallen rather dramatically however with $1,300,000 in July to $1,050,000 currently. We see a similar drop in the Average sales price from $3,357,932 2 months ago to $2,706,016 now. There tend to be wider swings in the Carpinteria/Summerland area because of the wide diversity of home prices. On Padaro and Sandyland Cove there are properties that are in the 10s of Millions of Dollars compared to the tract homes of the tract homes of downtown Carpinteria which are closer to the Million Dollar range. The days on the market has stretched out slightly with 106 a couple of months ago to 111 now.
For Condominiums in Carpinteria Real Estate/Summerland Real Estate number of sales has also remained constant. There were 27 sales through July and currently there have been 35. Also the Median sales price is very close to where it was. In July it was $570,000 compared to $555,000 for September. Likewise the Average sales price is close with $587,185 two months ago and $579,007 currently. The trend is slightly down, but not alarmingly so. And finally the days on the market like single family homes is slightly longer with 95 in July and 102 currently.
For Goleta Real Estate North in the Santa Barbara Real estate area for Home Estate/PUDs there were 13 properties close escrow in the last 30 days. In June/July for the same period there was just one more of 14. Currently the Median sales price for homes in the area is $889,000 and two months ago it was only slightly more at $897,500. During the last 30 days 9 homes entered escrow as opposed to 15 properties 2 months ago. At the time those 15 properties entered escrow the Median Asking price was $909,000 and now it has slid slightly to $899,000. Currently there are 102 Home Estates available in Goleta South and in June/July there were only 89. The Median Asking price two months ago was $999,000 and now it is slightly lower at $975,000.
For condominiums in the Goleta Real Estate North area of Santa Barbara Real estate there were 7 that closed escrow in August/September. In June/July there were only 2. The Median Sales price of the 2 was $504,875 and now it’s risen to $510,000. Also during June/July 4 Condos went into escrow while in August/September 3 entered escrow. The inventory has remained almost exactly where it was for the past two months. In August/September there were 30 condos for sale and currently there are 31. Two months ago the Median Listing price was $549,000 and currently it has risen to $575,000.
I’ve known Marty Blum for several years and we’ve swapped Emails for most of that time. Recently she got a radio show on AM990 in Santa Barbara from 12PM to 1PM on Saturdays and I started listening and sending her some thoughts I had on how to make the show better. One of the things I told her was that she needed a sidekick, and not just any sidekick, but ME! After a few months of bugging her she relented and gave me a shot. She has graciously allowed me to fill that sidekick roll for the foreseeable future so I decided what the world really needed was to immortalize these events by podcasting them.
On the show for Saturday September 22nd 2007 we talked about the Mayor’s trip to Trenton where she met with a number of other Mayors and chaired the Sustainability Committee. We also talked about the Council’s vote to widen the 101 Freeway from the Milpas St Bridge to Hot Springs Rd.
At the half hour we were joined by the Bryants, Bob and Patty talking about the Summit for Danny in conjunction with the Council for Drug Abuse. The Summit project goes around the world scaling huge mountains and raising money for a great cause.
Finally, we ended the show by talking about the Salsa Festival at Ortega Park and what was going on with City Plan which has been holding events all over town to gather information from people in the community about what they think their city should look like for the next 20 years.
In the Santa Barbara Real Estate are of Goleta Real Estate South for the Home Estate/PUD market there were 9 homes that closed escrow in the last 30 days. For the same period 2 months ago there were 5 properties. The Median Sales price of those 9 homes was $1,000,000 as opposed to two months ago when the Median Sales price was $935,000. During that same period in June and July there were 12 properties that entered escrow and currently there are 4. The Median asking price of those 4 homes is $1,449,000 and in June it was $995,000. The current inventory in Goleta South shows us 53 Home Estates and in June there were exactly the same number available. The current Median List price is $859,000 and two months ago it was very similar at $884,500.
For Condominiums in the Goleta Real Estate South area of Santa Barbara Real Estate there were 7 that closed escrow in Augusts and September as opposed to 8 in June and July. The Median sales price currently is $500,000 and two months ago it was $534,500. In the last month 5 properties entered escrow as opposed to 7 in June/July. But the inventory has increased from 42 in June/July to the current 44. The Median asking price currently is $635,000 which is exactly what it was then.
For the Santa Barbara Real Estate area of Hope Ranch Real Estate for the last 30 days 5 Home Estates have closed escrow. At this time last month the exact same number had closed. The Median Sales price has finally slightly from $3,950,000 in June to the current $3,650,000. Also in the last 30 days, 8 properties entered escrow which is 4 times the number of properties that entered in June. Due to the increase in activity in Hope Ranch the inventory has declined from 12 available Single Family dwellings in June to the current 8 now available. The Media Asking price for those 12 properties two months ago was $2,995,000 but today that number is slightly lower at $2,695,000.
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 9 that closed escrow in the last 30 days as opposed to 19 in June. The Median sales price two months ago was $1,075,000 but currently its $1,100,000. So while less than half the numbers of properties completed the sales cycle the Median Sales price rose. Also in the last 30 days 14 properties entered escrow which is exactly the same number as entered escrow in June. The inventory has contracted somewhat with currently 98 properties available as opposed to two months ago when there were 104 for sale. The Median List price has fallen from $1,139,000 in June as opposed to $1,125,000.
For Condominiums in the West of State St are of Santa Barbara Real Estate there were 9 properties that closed in the last 30 days as 8 that closed escrow in June. The Median Sold price has risen slightly from $627,500 in June to $632,000 now. Also in June we 6 condos enter escrow as opposed to 4 this month. Just like with Home Estates the inventory is declining incrementally. In June there were 54 condos available and $684,900currently there were 45. The Median List price has risen substantially however showing us that two months ago was it $684,900 and now its $749,000.
For Santa Barbara Real Estate East of State St for Single Family Homes 17 properties closed in the last 30 days as opposed to 25 two months ago. The Median Sales price is also down from $1,575,000 in June to $1,375,000. The number of homes that were in escrow two months ago was 21 and in the last 30 days it’s been 12. Median asking price of those homes in escrow has fallen from $1,399,000 to the current $1,295,000. The inventory has increased however from 137 in June to 151 now. Usually at this time of year the inventory starts to shrink but currently it’s grown. The Median Listing price of the inventory has increased only slightly. Right now it’s $1,495,000 from $1,479,000.
For Condominiums in the East of State St area of Santa Barbara Real Estate the number of properties that closed escrow in the last 30 days was 4 as compared to 7 for June and the Median Sales price of those homes that closed escrow was $543,000 as compared to $612,000. During the same period 5 properties entered escrow but during June 8 went into escrow. Currently there are 48 condos available on the East Side but in June there were 52. Of those currently active condos the Median List price is $979,000 and two months ago the Median List price was exactly the same.
Santa Barbara Real Estate’s area of Montecito Real Estate for Home Estate/PUDs for the middle of August to the middle of September shows us that there were 18 sales as opposed to 15. The median sales price is also up from $2,200,000 in June to $3,564,859. The average days on the market has increased from 72 two months ago to 99 currently. The only fly in the ointment is that in June there were 18 properties that entered escrow and currently there are 12. At least part of this can be attributed to seasonal activity. The inventory is down slightly from 124 in June and currently it’s 113. The Median Listing price of that inventory is up very slightly. Two months ago $3,585,000 and currently it’s $3,695,000.
Montecito Real Estate Condominiums in the Santa Barbara Real estate is basically what it’s been all year. In June there were 3 closings and currently there were 2. The Median Sales price of the condos has come down dramatically. In June it was $1,800,000 and in September it’s $950,000. When you’re only dealing with 2 sales the numbers can be greatly skewed so I don’t think this is a trend, just an anomaly. The inventory is up however with 12 condos currently available as opposed 9 2 months ago. Also up is the Median Listing price of the currently available properties. Right now it’s $1,474,000 and in June it was $1,099,000.
Check Out Montecito Real Estate on Squidoo
For the Santa Barbara Real Estate areas of Carpinteria Real Estate/Summerland Real Estate for Home Estates and PUDs there were 6 properties that closed. Compare that to the 11 that closed for the period of Mid June to July. Interestingly enough the Median Sales price is up slightly from $830,000 a couple of months ago to $832,500 for the current period. The number of properties that came on the market was exactly the same with 7, but the properties that went into escrow are down from 8 to 5. The inventory is down slightly from 58 properties in June to 58 currently but the Median Listing price is way up from $1,395,000 to $1,820,000.
For the condo market of Carpinteria Real Estate/Summerland Real Estate Santa Barbara Real Estate areas the number sales is also down from what it was in June. 2 months ago there were 6 condos that closed but currently there are 3. Even though fewer properties closed Median Sales price is up from $499,125 to the current $546,000. The big change is that the average days on the market were 51, but currently it’s at 106. The good is that the number of condos that went into escrow in June was 3 but currently we’re looking at 9. The inventory is down substantially from June when it was 52 available condos with a Median Listing price of $529,000 to 42 currently with a Median Listing price of $589,000.
Today’s Blog is about a couple of my favorite hunks of Santa Barbara Real Estate. The first hunk is just outside our bedroom in the garden. It’s a beautiful garden with lots of rose trees and a view, when it’s clear, out to the Santa Barbara Channel Islands. In this garden almost 30 years ago Laury (Honey Bunny) and I got married. Yes, on September 17, 1978 we tied the knot in front of our friends and family. We’re incredibly fortunate to now own that hunk of Santa Barbara Real Estate and we’ll be forever grateful for the love we’ve found in each other.
The second plot of Santa Barbara Real Estate is the Santa Barbara Biltmore. Over the years I’ve played dozens of musical jobs there and we’ve attended a lot of events. It was with much fear and trembling that I saw Ty Warner start to re-model my beloved Marina Dining Room. I thought how anybody can make this area better is beyond me. Well, guess what, he did make it better. It’s absolutely a gorgeous setting and we love it so much that’s where we’re going to celebrate our Wedding Anniversary.
So for all you folk who would like to get a look at the Big Guy and Honey Bunny and congratulate us on 29 years of wedded bliss come on by the Biltmore at 1:30 on Sunday say hello.
For the Santa Barbara Real Estate area of Goleta Real Estate North for the first 8 months of ’07 in the Single Family Home market 106 homes closed escrow with a median sold price of $960,000 and an average sold price of $1,216,691. 199 homes came on the market with a median asking price of $995,000 and an average asking price of $1,474,268. Also for that period 112 properties went into escrow, 19 were withdrawn from the market, 30 listings cancelled, 48 expired and 43 came back on the market. Currently there are 102 homes for sale in the area with a median list price of $975,000 and an average list price of $1,781,111.
For the Santa Barbara Real Estate area of Goleta Real Estate North for the first seven months of ’07 in the Condo market 29 condos closed escrow with a median sold price of $550,000 and an average sold price of $544,599. 58 condos came on the market with a median asking price of $560,000 and an average asking price of $590,224. Also for that period 32 properties went into escrow, 4 were withdrawn from the market, 14 listings cancelled, 21 expired and 8 came back on the market. Currently there are 28 condos for sale in the area with a median list price of $545,000 and an average list price of $588,939.
For the Santa Barbara Real Estate area of Goleta Real Estate South for the first 8 months of ’07 in the Single Family Home market 58 homes closed escrow with a median sold price of $899,000 and an average sold price of $1,083,189. 120 homes came on the market with a median asking price of $899,000 and an average asking price of $1,078,228. Also for that period 56 properties went into escrow, 8 were withdrawn from the market, 24 listings cancelled, 28 expired and 22 came back on the market. Currently there are 55 homes for sale in the area with a median list price of $869,000 and an average list price of $1,143,812.
For the Santa Barbara Real Estate area of Goleta Real Estate South for the first seven months of ’07 in the Condo market 54 condos closed escrow with a median sold price of $531,000 and an average sold price of $555,012. 97 condos came on the market with a median asking price of $589,000 and an average asking price of $586,297. Also for that period 57 properties went into escrow, 10 were withdrawn from the market, 14 listings cancelled, 27 expired and 15 came back on the market. Currently there are 42 condos for sale in the area with a median list price of $635,000 and an average list price of $606,982.
For the Santa Barbara Real Estate area of Hope Ranch Real Estate for the first 8 months of ’07 in the Single Family Home market 22 homes closed escrow with a median sold price of $3,500,000 and an average sold price of $4,527,045. 32 homes came on the market with a median asking price of $2,950,000 and an average asking price of $5,084,343. Also for that period 25 properties went into escrow, 3 were withdrawn from the market, 3 listings cancelled, 9 expired and 8 came back on the market. Currently there are 13 homes for sale in the area with a median list price of $2,850,000 and an average list price of $6,588,846.
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 8 months of ’07 in the Single Family Home market 136 homes closed escrow with a median sold price of $1,038,750 and an average sold price of $1,200,001. 243 homes came on the market with a median asking price of $1,110,000 and an average asking price of $1,251,135. Also for that period 144 properties went into escrow, 23 were withdrawn from the market, 60 listings cancelled, 54 expired and 37 came back on the market. Currently there are 102 homes for sale in the area with a median list price of $1,147,000 and an average list price of $1,310,797.
For the Santa Barbara Real Estate area of West of State St for the first seven months of ’07 in the Condo market 53 condos closed escrow with a median sold price of $645,000 and an average sold price of $693,778. 111 condos came on the market with a median asking price of $687,000 and an average asking price of $830,593. Also for that period 61 properties went into escrow, 20 were withdrawn from the market, 30 listings cancelled, 39 expired and 29 came back on the market. Currently there are 47 condos for sale in the area with a median list price of $774,900 and an average list price of $975,772.
For the Santa Barbara Real Estate area of East of State St for the first 8 months of ’07 in the Single Family Home market 162 homes closed escrow with a median sold price of $1,206,000 and an average sold price of $1,414,128. 316 homes came on the market with a median asking price of $1,329,000 and an average asking price of $1,607,412. Also for that period 169 properties went into escrow, 39 were withdrawn from the market, 47 listings cancelled, 73 expired and 79 came back on the market. Currently there are 146 homes for sale in the area with a median list price of $1,499,000 and an average list price of $1,722,950.
For the Santa Barbara Real Estate area of East of State St for the first seven months of ’07 in the Condo market 69 condos closed escrow with a median sold price of $800,000 and an average sold price of $890,455. 109 condos came on the market with a median asking price of $879,000 and an average asking price of $1,100,801. Also for that period 69 properties went into escrow, 10 were withdrawn from the market, 24 listings cancelled, 24 expired and 16 came back on the market. Currently there are 48 condos for sale in the area with a median list price of $989,900 and an average list price of $1,004,425.
For the Santa Barbara Real Estate area of Montecito Real Estate for the first 8 months of ’07 in the Single Family Home market 135 homes closed escrow with a median sold price of $2,862,500 and an average sold price of $3,603,382. 215 homes came on the market with a median asking price of $3,250,000 and an average asking price of $4,761,812. Also for that period 135 properties went into escrow, 27 were withdrawn from the market, 34 listings cancelled, 69 expired and 52 came back on the market. Currently there are 118 homes for sale in the area with a median list price of $3,695,000 and an average list price of $6,387,336.
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. 27 condos came on the market with a median asking price of $1,299,000 and an average asking price of $1,759,444. Also for that period 15 properties went into escrow, 2 were withdrawn from the market, 4 listings cancelled, 9 expired and 3 came back on the market. Currently there are 14 condos for sale in the area with a median list price of $1,269,000 and an average list price of $1,659,785.
Check Out Montecito Real Estate on Squidoo
For the Santa Barbara Real Estate area from Goleta Real Estate to Carpinteria Real Estate/Summerland Real Estate as well as Montecito Real EstateHope Ranch Real Estate for Home Estate/PUDs the market continues strong through August ’07. Unlike the dire news throughout most of the rest of the country including most of California the number of sales is about 10% ahead of where it was last year at this time and the median sales price is about 4% above where it was previously.
The top end of the market remains very hot with more than 25% of the sales coming in above the $2,000,000 mark. There were 4 sales above $5,000,000 for the month with the top price being just south of $19,000,000. To further amplify on how far the upper end of the market has skewed the numbers, the total number of sales is up 9.3% and the total sold volume is up 14% to an amazing $1.3 billion dollars.
While the market is continuing to be pushed by the higher dollar value properties particularly in Hope Ranch and Montecito even when you take those homes out of the mix the median sales price is exactly where it was last year, currently residing at $1,050,000. Earlier in the year this number had fallen down below where it was last year, but currently it’s exactly the same.
This strength in the over all marketplace is illustrated by the fact that every district in the Santa Barbara Real Estate area has posted sales above where they were in ’06 except for Goleta North and South. In Goleta North the sales are off about 7% and in Goleta South they’re off by about 8%.
Even though the overall median sales price without Hope Ranch and Montecito is the same as it was last year, there is considerable softening in the $700,000 to $900,000 market for Home Estates. We’ve seen prices fall in this range as much as $100,000 or more. Houses that were selling in the low $900s are now looking at the high $700s in some areas.
The only number that bothers me for the month of August is the number of properties that entered escrow. To put this in perspective, 87 properties closed escrow, but only 63 entered. This number was definitely affected by the sudden liquidity problem in the financial markets leading to a tightening of credit requirements. But we’ll have to see whether this is a trend or an anomaly.
It’s difficult to say how soon the financial markets will take to resolve their issues, but for now the numbers for Santa Barbara Real Estate still look good. With sales up and the median sales price continuing to rise, the basic underpinning of the market seems strong at this time.
Over on the condo side of the ledger the picture is more mixed. The number of listings is down about 19% for the year, but the number of sold properties is up by 22.4%. This increase in activity is being driven however by a decline in the median sales price. Last year at this time the median sales price was $675,000, this year its $613,500 for the entire year for almost an 8% fall. Even the average sales price has declined by 2.4% from $769,481 to $758,184.
Just looking at the month of August we see that 27 condos closed escrow but 33 entered escrow. Unlike Home Estates where we had substantially fewer properties entering escrow as opposed to leaving escrow the condo market appears to be moving forward. The median sales price of condos in August is down however to $549,000 with 10 of the 27 sales coming in between $500,000 and $549,000. The overall market time for those properties that sold was 111 days. This means that if you list your condo today the average time it would take to complete the sale process would be about 4 months.
Looking at all of ’07, just like the Home Estate market the upper end is driving the market giving us a 22% rise in the total sold volume for Condos. Through the first 8 months of ’07 over $200 million in condos has changed hands.
The increase in activity is not just confined to the upper end however. Every district in Santa Barbara has more sales this year as opposed to last year with the really significant rise coming in Montecito. Last year at this time only 9 condos had closed escrow and this year it’s up to 23 already.
The fact that the condo market for Santa Barbara Real Estate in August was as strong as it was surprised me. I thought that this would be the market that would be hit most significantly by the credit problem. But, the increase in the number of properties entering escrow as opposed to those closing escrow would seem to waylay that concern.
The large fly in the ointment for Santa Barbara Real Estate is the credit issue which is particularly significant with jumbo loans. At this point I still see the problem as a temporary liquidity issue that will resolve itself rather quickly but we’ll have to see where the market goes in the last quarter of ’07.
For now, I still see the Real Estate market as strong in the Santa Barbara area with rises in sales and median sales price for Home Estates and mixed for Condos with sales up significantly but a decline in the median sales price.
For the Santa Barbara Real Estate area of Carpinteria Real Estate/Summerland Real Estate for the first 8 months of ’07 in the Single Family Home market 48 homes closed escrow with a median sold price of $1,130,000 and an average sold price of $2,825,100. 100 homes came on the market with a median asking price of $1,195,000 and an average asking price of $2,697,187. Also for that period 48 properties went into escrow, 9 were withdrawn from the market, 15 listings cancelled, 30 expired and 17 came back on the market. Currently there are 59 homes for sale in the area with a median list price of $1,595,000 and an average list price of $3,462,000.
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 33 condos closed escrow with a median sold price of $550,000 and an average sold price of $569,583. 91 condos came on the market with a median asking price of $589,000 and an average asking price of $611,954. Also for that period 43 properties went into escrow, 9 were withdrawn from the market, 20 listings cancelled, 48 expired and 18 came back on the market. Currently there are 45 condos for sale in the area with a median list price of $589,000 and an average list price of $625,636.
For Santa Barbara Real Estate for ’07 in Goleta Real Estate North there were 103 Single Family Residents Close escrow since the first of the year. 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 38 days. This means that from start to finish was a total of 103 days. The Median Sold price for those properties was $970,000 and the Average Sold price was $1,226,672.
For Santa Barbara Real Estate for ’07 in Goleta Real Estate North there were 27 Condos that Closed escrow since the first of the year. 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 32 days. This means that from start to finish was a total of 115 days. The Median Sold price for that property was $550,000 and the Average Sold price was $547,199.
For Santa Barbara Real Estate for ’07 in Goleta Real Estate South there were 54 Single Family Residents Close escrow since the first of the year. The Average Days on the Market which means from the time the property was listed until it went into escrow for those properties was 57 days. The Average Days to Close which means the time the property was in Escrow was 36 days. This means that from start to finish was a total of 93 days. The Median Sold price for those properties was $899,000 and the Average Sold price was $1,095,555.
For Santa Barbara Real Estate for ’07 in Goleta Real Estate South there were 53 Condos that Closed escrow since the first of the year. The Average Days on the Market which means from the time the property was listed until it went into escrow for those properties was 74 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 109 days. The Median Sold price for that property was $530,000 and the Average Sold price was $546,616.
For Santa Barbara Real Estate for ’07 in Hope Ranch Real Estate there were 21 Single Family Residents Close escrow since the first of the year. The Average Days on the Market which means from the time the property was listed until it went into escrow for those properties was 121 days. The Average Days to Close which means the time the property was in Escrow was 36 days. This means that from start to finish was a total of 157 days. The Median Sold price for those properties was $3,350,000 and the Average Sold price was $4,468,809.
For Santa Barbara Real Estate for ’07 in Hope Ranch Real Estate there was no activity in the Condo market.
For Santa Barbara Real Estate for ’07 in West of State St there were 135 Single Family Residents Close escrow since the first of the year. The Average Days on the Market which means from the time the property was listed until it went into escrow for those properties was 63 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 98 days. The Median Sold price for those properties was $1,039,000 and the Average Sold price was $1,203,223.
For Santa Barbara Real Estate for ’07 in West of State St there were 50 Condos that Closed escrow since the first of the year. The Average Days on the Market which means from the time the property was listed until it went into escrow for those properties was 92 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 124 days. The Median Sold price for that property was $645,000 and the Average Sold price was $687,165.
For Santa Barbara Real Estate for ’07 in East of State St there were 155 Single Family Residents Close escrow since the first of the year. 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 36 days. This means that from start to finish was a total of 113 days. The Median Sold price for those properties was $1,212,000 and the Average Sold price was $1,413,627.
For Santa Barbara Real Estate for ’07 in East of State St there were 66 Condos that Closed escrow since the first of the year. The Average Days on the Market which means from the time the property was listed until it went into escrow for those properties was 103 days. The Average Days to Close which means the time the property was in Escrow was 27 days. This means that from start to finish was a total of 130 days. The Median Sold price for that property was $811,250 and the Average Sold price was $905,597.
For Santa Barbara Real Estate for ’07 in Montecito Real Estate there were 132 Single Family Residents Close escrow since the first of the year. The Average Days on the Market which means from the time the property was listed until it went into escrow for those properties was 104 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 145 days. The Median Sold price for those properties was $2,831,250 and the Average Sold price was $3,483,156.
For Santa Barbara Real Estate for ’07 in Montecito Real Estate there were 19 Condos that Closed escrow since the first of the year. The Average Days on the Market which means from the time the property was listed until it went into escrow for those properties was 102 days. The Average Days to Close which means the time the property was in Escrow was 39 days. This means that from start to finish was a total of 141 days. The Median Sold price for that property was $1,475,000 and the Average Sold price was $1,779,210.
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For Santa Barbara Real Estate for ’07 in CCarpinteria Real Estate/Summerland Real Estate there were 47 Single Family Residents Close escrow since the first of the year. The Average Days on the Market which means from the time the property was listed until it went into escrow for those properties was 103 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 136 days. The Median Sold price for those properties was $1,165,000 and the Average Sold price was $2,864,996.
For Santa Barbara Real Estate for ’07 in Carpinteria Real Estate/Summerland Real Estate there were 31 Condos that Closed escrow since the first of the year. The Average Days on the Market which means from the time the property was listed until it went into escrow for those properties was 105 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 139 days. The Median Sold price for that property was $555,000 and the Average Sold price was $574,104.