For Santa Barbara Real Estate in the Montecito Real Estate area there are 115 Home Estate/PUD that are currently active. Average price for those Home Estates is $6,520,091 with the highest priced listing showing up at an amazing $47,000,000. The median price for the 115 homes is $3,600,000 with the lowest priced listing a paltry $1,283,000. Average market time for those Home Estates is over 4 months at 134 days.
20 Home Estates are currently in escrow in Montecito. Average price for those 20 homes is $5,661,978 with highest price house in escrow is $20,000,000 with the median price showing up at $4,250,000 and the lowest priced Home Estate a miniscule $1,350,000. Average market time for all of those homes is 102.
As of December 14, 174 properties have closed escrow in Montecito. The average price of those 174 homes is $3,737,345 with the highest priced home going out for $20,000,000 and the median price $2,900,000. The lowest priced home that has closed escrow in Montecito this year was $675,000. Average market time for these 174 homes has been 103 days.
For Montecito Real Estate in the Santa Barbara area Condominiums there are currently 15 condos on the market. Average list price for the 15 condos is $1,868,396 with the highest priced listing being a condo for $5,900,000. Median listing price is currently at $1,750,000 and the lowest priced listing is $745,000. Average market time for those properties is 86 days.
3 condos are currently in escrow in Montecito. Of those 3 condos the average price is $1,594,000 with the highest price condo showing up at $1,800,000 and the median price of those condos in escrow is $1,388,000. The lowest priced condo in escrow is $1,388,000 and the average market time for those condos is 162.
For Sales through December 14 of 1007 there have been 24 properties close escrow. The average price of those 24 homes is $1,645,625 with the highest price a whopping $5,000,000. The median price of the Montecito closed condos is $1,200,000 and the lowest priced property is $720,000. Average market time for these homes is 111 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 12/14/2007 the inventory has grown over the last week and currently there 60 Home and Estate/PUDs on the market. For those 60 homes the average price is $4,230,462; with the highest priced property coming in at $35,000,000. The median price listing price is $1,595,000 and the least expensive home is currently on the market for $575,000. The average market time for those properties has slid up to 153 days.
At present there are 4 properties in escrow. Average price for those 4 homes is $1,009,975 with the highest price home showing up at $1,295,000, the median price is $995,000 and the lowest priced house is $649,000. The average market time for the homes is slid down to 76.
As far as Sales are concerned, there have been 62 homes close escrow. Average price of those 62 properties is $2,487,698 with the highest price a whopping $35,000,000. The median sales price is currently $995,000 and the lowest priced property is $630,000. The average market time for these homes is a little over 3 months at 109 days.
For Carpinteria Real Estate/Summerland Real Estate area for Condominiums currently there are 45 condos on the market. Average price for the 45 condos is $631,240 with the highest priced Condo showing up at $1,250,000. The median listing price is $615,000 and the lowest priced condo is $329,900. Average market time for all those properties is 113 days.
Currently there are 4 condos that are in escrow. Average price for those condos that have entered escrow is $774,927 with the highest price condo showing up at $899,000. The median price condo in escrow is $775,350 and the lowest priced condo is $650,000. Average market time for the homes is 54.
Condo Sales have been good in the area with 54 properties closing escrow this year. The average price of those 54 homes is $573,273, the highest price is $1,360,000, the median price is $549,000 and the lowest priced property is $370,000. The average market time for these homes is 107 days.
For Home Estate PUDs in the Goleta Real Estate North area of Santa Barbara Real Estate there have been about 15% fewer sales this year as opposed to last year. This year there have been 138 and last year it was at 150. But unlike Goleta South on the North Side of the freeway the Median Sales price is up from $932,500 last year to $937,000 this year. An increase of $4,500 isnt a whole lot, but I definitely wouldnt turn it down. To get that $4,500 you have to wait an extra 14 days to get your home in escrow, but hey, $2,250 a week isnt too bad a wage. The Sold Price to Original List price ratio is almost exactly where it was last year when it was 97.41% compared to this years 97.11%. So in boxing this would be a split decision. Sales are down, prices are up and the days on the market and Sales Price to Original List price ratio is almost dead even.
For Condominiums on the North Side of Goleta Real Estate things are almost the same. Sales are down with 43 this year vs. 51 last year. And the Median Sales price is down from $600,000 this year to $550,000 this year. And the Sales Price to Original List price ratio is up from 94.51% last year to 95.2% this year. The Days on the Market are almost exactly where they were also. Last year it took 70 Days to put your home in escrow and this year its taken 66. So definitely not a great year for Goleta North condos, with sales down, the median sales price down, but the Days on the Market are fewer and the Sales Price to Original List price ratio is up.
For Home Estate PUDs in the Goleta Real Estate South area of Santa Barbara Real Estate the sales are about 10% behind of where they were in 06 with 86 last year and 70 this year. The Median Sales Price is about where it was with $910,750 last year vs. $894,000 this year. In order to get your $15,000 less for the sale of your house you do have to wait a little over one week longer. In 06 the Days on the Market was 54 and this year its 62. The Sales Price to Original List price ratio is much better than last year when it was 87.34% in 06 compared to this years number of 97.74%. There are about 20% fewer sales combined with about a 15% drop in the Median Sales price and your get a tough year for Goleta South Real Estate.
For Condominiums for Goleta Real Estate South the numbers of sales is up by about 15%. Last year there were 63 sales and this year there have been 71. The Median Sold price is down however with about a 10% drop from $585,000 last year to $532,000 this year. The Sales Price to Original List price ratio got closer with 94.55% in 07 vs. 95.97% in 06. To get that 10% drop in the Median Sales price it takes you about 3 days longer. In 06 the Days on the Market was 67 and in 07 its 70.
For Hope Ranch Real Estate the sales are up this year by 15 homes. 34 have closed escrow in 07 vs. 19 at this time last year. The Median Sales price has also advanced showing $3,275,000 in 07 vs. $2,550,000 in 06. Original List price radio is up from 86.80% last year to 91.08% this year. And the Days on the Market have lengthened out almost two weeks. Last year it was 90 and this year its up to 101. But most people would think waiting an extra 11 days to go into escrow was worth it if you got an almost $800,000 increase in the sales price.
For Condominiums in Hope Ranch Real Estate there was no activity.
For West of State St in Santa Barbara Real Estate of Home Estate/PUDs numbers of sales for 07 is up with 185 properties closing escrow as opposed to 178 last year. The Median Sales Price for 07 has been $1,038,500 and in 07 its at $1,014,750. The Sales Price to Original List price radio has widened out slightly in 07 to 91.62% down from 92.87 in 06. The Days on the Market are very close with it a taking 67 days in 06 to put your house in escrow compared to 69 days in 07. For the West Side of Santa Barbara the Sales are up, the Median Sales price is down and the Days on the Market are steady.
For Condominiums on the West Side of Santa Barbara Real Estate there are also more sales for 07 with 74 Condos closing escrow compared to 66 for 06. But the Median Sales price has slipped slightly from $672,000 in 06 to $642,250 in 07. The Sales Price to Original Price ratio is very close from year to year with 93.9% in 06 vs. 94.27% for 07. The Days on the Market has kind of stretched out in 07. It takes two weeks longer to get your Condo into escrow than it did last year. That means you have to wait 2 weeks longer to receive almost $30,000 fewer dollars for your Condominium.
For the East of State St Home Estate/PUDs for Santa Barbara Real Estate there have been 214 sales through 12/20 in 06 there were 230. The Median Sales price has also declined over that same time period. For 07 it has been $1,218,500 and in 06 its been $1,255,000. The one thing that has remained fairly constant is the Original List Price to Sold Price ratio. In 06 it was 92.1% and in 07 its 91.61%. To get the slightly reduced Median Sales price you had to wait 14 days longer than in 2006. For 07 the number of Days on the Market has been 80 and in 06 it was just 66. Overall there have been fewer sales and a lower Median Sales price for 07 vs. 06 Home Estate/PUDs on the East Side.
For Condominiums in the East of State St area of Santa Barbara Real Estate there are more sales in 06 and the Median Sales Price is up. Last year at this time there were 77 sales and currently there have been 84. The Median Sales price last year was $790,000 and this year its at $827,500. In 07 theres been a slightly larger gap between Original List Price and Sold Price. This year its at 93.13% and last year it was 94.88. The only number that pops out is the Days on the Market. For 06 it was 64 and in 07 its 97. This means you have to wait over a month longer to get about a $40,000 increase in price.
Through the middle of December 07 for Montecito Real Estate weve seen 175 Home Estate/PUDs close escrow. This number is exactly 10 properties ahead of where we were in 06. This interesting part of this number is that along with an increase in sales weve also seen an increase in the Median Sales price from $2,690,000 in 06 to $2,900,000 in 07. The Original List Price to Sales Price ratio is almost exactly where it was last year. In 07 it has been 90.78% and in 06 its been 90.86%. The Days on the Market for the homes that sold in 07 stands at 103 and in 06 it was 98. The market for the upper end properties has continued to expand but has slowed slightly from 06. With both the Median Sales price and Numbers of Sales increasing Montecito is still a very good place to buy a house..
For Condominiums in Montecito Real Estate there have been 24 sales in 07 as opposed to 21 for the same time period last year. The Median Sales price for 07 is $1,225,000 compared to the $1,655,000 number of 06. This is a fairly large drop in the Median Sales price and is only counter balanced by the increased numbers of sales. The Original List Price to Sales Price ratio o 89.64% for 07 shows a willingness on the part of sellers to deal more aggressively on the price compared to the 92.29% mark of 06. The Days on the Market is only 3 higher for 07 as opposed to 06 which means sales are taking about as long as they did last year.
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Through the middle of December 07 for Carpinteria Real Estate/Summerland Real Estate there have been 62 Home Estate/PUDs properties sell. This is exactly the same numbers of sales we saw on December 20 06. The Median Sales price has dropped significantly in 07 to $1,010,000 from $1,245,000 in 06. To get the $1,245,000 number for 06 we saw the Original List Price to Sales Price ratio drop to 85% compared to the 93.66% ratio for 07. Because of the dramatic drop in the Median Sales price I think higher ratio for 07 shows that sellers are starting to take a stand as far as price reductions are concerned. The Days on the Market for the homes that sold in 07 stands at 109 and in 06 it was 99. Were definitely experiencing a market correction in the Carpinteria/Summerland area with a substantial drop in the Median Sales price.
For Condominiums in Carpinteria Real Estate/Summerland Real Estate there have been 54 sales in 07 as opposed to 48 for the same time period last year. The Median Sales price for 07 is $549,500 compared to the $575,000 number of 06. This is a substantial drop in the Median Sales price and is certainly a contributing factor for the increased year over year sales. The Original List Price to Sales Price ratio or 91.93% for 07 compared to 93.28% for 06. It takes about 20 more days in 07 to get a condo in escrow as opposed to 06 which translates out to almost 3 more weeks a seller has to wait.
For Santa Barbara Real Estate in Goleta Real Estate North the Price Range Statistics for 1/1/2007 to 12/7/2007 show that there are currently 72 Home and Estate/PUDs on the market. The average price for the 72 properties is $1,583,644; the highest priced listing is $12,500,000, the median listing price is $959,000 and the lowest priced listing is $375,000. The average market time for those properties is 126 days.
There are 16 properties that are currently in escrow. The average price for those homes that entered escrow is $1,046,125. The highest price house is $2,795,000, the median price is $900,000 and the lowest priced house is $639,000. The average market time for the homes is 114.
On the Sales side there has been 130 properties closed escrow. The average price of those 130 homes is $1,174,981, the highest price is $8,200,000, the median price is $939,000 and the lowest priced property is $160,000. The average market time for these homes is 72 days.
For Santa Barbara Real Estate for Goleta Real Estate North the Price Range Statistics for Condominiums there are currently 18 condos currently on the market. The average price for the 18 properties is $554,359, the highest priced listing is $989,000, the median listing price is $519,000 and the lowest priced listing is $369,000. The average market time for those properties is 182 days.
There are currently 5 condos that are in escrow. The average price for those homes that entered escrow is $596,200. The highest price house is $759,000, the median price is $529,000 and the lowest priced house is $462,000. The average market time for the homes is 138.
On the Sales side there has been 42 properties close escrow. The average price of those 42 homes is $570,128, the highest price is $1,218,000, the median price is $539,000 and the lowest priced property is $193,200. The average market time for these homes is 67 days.
For Santa Barbara Real Estate in Goleta Real Estate South the Price Range Statistics for 1/1/2007 to 12/7/2007 show that there are currently 52 Home and Estate/PUDs on the market. The average price for the 52 properties is $1,426,811; the highest priced listing is $13,000,000, the median listing price is $925,000 and the lowest priced listing is $599,000. The average market time for those properties is 113 days.
There are 3 properties that are currently in escrow. The average price for those homes that entered escrow is $745,666. The highest price house is $799,000, the median price is $789,000 and the lowest priced house is $649,000. The average market time for the homes is 158.
On the Sales side there has been 70 properties closed escrow. The average price of those 70 homes is $1,104,607, 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 62 days.
For Santa Barbara Real Estate for Goleta Real Estate South the Price Range Statistics for Condominiums there are currently 29 condos currently on the market. The average price for the 29 properties is $602,646, the highest priced listing is $999,000, the median listing price is $594,990 and the lowest priced listing is $315,000. The average market time for those properties is 110 days.
There are currently 6 condos that are in escrow. The average price for those homes that entered escrow is $602,646. The highest price house is $749,000, the median price is $460,000 and the lowest priced house is $349,000. The average market time for the homes is 109.
On the Sales side there has been 69 properties close escrow. The average price of those 69 homes is $556,601, the highest price is $1,000,000, the median price is $536,000 and the lowest priced property is $270,000. The average market time for these homes is 68 days.
For Santa Barbara Real Estate in Hope Ranch Real Estate the Price Range Statistics for 1/1/2007 to 12/7/2007 show that there are currently 11 Home and Estate/PUDs on the market. The average price for the 11 properties is $6,228,818; the highest priced listing is $28,950,000, the median listing price is $2,850,000 and the lowest priced listing is $1,929,000. The average market time for those properties is 120 days.
There is 1 property that is currently in escrow. The average price for those homes that entered escrow is $1,750,000. The highest price house is $1,750,000, the median price is $1,750,000 and the lowest priced house is $1,750,000. The average market time for the homes is 65.
On the Sales side there has been 33 properties closed escrow. The average price of those 33 homes is $4,735,606, the highest price is $15,000,000, the median price is $3,350,000 and the lowest priced property is $1,850,000. The average market time for these homes is 104 days.
For Santa Barbara Real Estate for Hope Ranch Real Estate the Price Range Statistics for Condominiums was no activity
For Santa Barbara Real Estate for West of State St the Price Range Statistics for 1/1/2007 to 12/7/2007 show that there are currently 90 Home and Estate/PUDs on the market. The average price for the 90 properties is $1,329,831; the highest priced listing is $5,995,000, the median listing price is $1,195,000 and the lowest priced listing is $539,000. The average market time for those properties is 107 days.
There are 18 properties that are currently in escrow. The average price for those homes that entered escrow is $1,086,361. The highest price house is $2,075,000, the median price is $899,000 and the lowest priced house is $719,500. The average market time for the homes is 87.
On the Sales side there has been 176 properties closed escrow. The average price of those 176 homes is $1,174,296, the highest price is $4,600,000, the median price is $1,039,000 and the lowest priced property is $521,835. The average market time for these homes is 70 days.
For Santa Barbara Real Estate for West of State St the Price Range Statistics for Condominiums there are currently 41 condos currently on the market. The average price for the 41 properties is $967,419, the highest priced listing is $2,595,000, the median listing price is $679,000 and the lowest priced listing is $449,000. The average market time for those properties is 126 days.
There is currently 1 condo that is in escrow. The average price for that house that entered escrow is $698,000. The highest price house is $698,000, the median price is $698,000 and the lowest priced house is $698,000. The average market time for the homes is 16.
On the Sales side there has been 74 properties close escrow. The average price of those 74 homes is $762,359, the highest price is $2,660,000, the median price is $645,000 and the lowest priced property is $380,000. The average market time for these homes is 86 days.
For Santa Barbara Real Estate in East of State St the Price Range Statistics for 1/1/2007 to 12/7/2007 show that there are currently 127 Home and Estate/PUDs on the market. The average price for the 127 properties is $1,808,669; the highest priced listing is $11,950,000, the median listing price is $1,489,000 and the lowest priced listing is $522,500. The average market time for those properties is 103 days.
There are 15 properties that are currently in escrow. The average price for those homes that entered escrow is $1,121,693. The highest price house is $3,495,000, the median price is $960,000 and the lowest priced house is $600,000. The average market time for the homes is 71.
On the Sales side there has been 207 properties closed escrow. The average price of those 207 homes is $1,417,271, the highest price is $9,300,000, the median price is $1,225,000 and the lowest priced property is $455,000. The average market time for these homes is 79 days.
For Santa Barbara Real Estate for East of State St the Price Range Statistics for Condominiums there are currently 39 condos currently on the market. The average price for the 39 properties is $1,178,487, the highest priced listing is $2,400,000, the median listing price is $999,000 and the lowest priced listing is $455,000. The average market time for those properties is 108 days.
There are currently 5 condos that are in escrow. The average price for those homes that entered escrow is $1,178,487. The highest price house is $2,400,000, the median price is $999,000 and the lowest priced house is $4495,000. The average market time for the homes is 108.
On the Sales side there has been 84 properties close escrow. The average price of those 84 homes is $943,928, the highest price is $2,100,000, the median price is $825,000 and the lowest priced property is $490,000. The average market time for these homes is 97 days.
For Santa Barbara Real Estate in Montecito Real Estate the Price Range Statistics for 1/1/2007 to 12/7/2007 show that there are currently 114 Home and Estate/PUDs on the market. The average price for the 114 properties is $6,375,530; the highest priced listing is $47,000,000, the median listing price is $3,595,000 and the lowest priced listing is $1,283,000. The average market time for those properties is 139 days.
There are 15 properties that are currently in escrow. The average price for those homes that entered escrow is $5,300,513. The highest price house is $20,000,000, the median price is $3,995,000 and the lowest priced house is $1,575,000. The average market time for the homes is 139.
On the Sales side there has been 171 properties closed escrow. The average price of those 171 homes is $3,758,559, the highest price is $20,000,000, the median price is $2,900,000 and the lowest priced property is $675,000. The average market time for these homes is 103 days.
For Santa Barbara Real Estate for Montecito Real Estate the Price Range Statistics for Condominiums there are currently 16 condos currently on the market. The average price for the 16 properties is $1,854,746, the highest priced listing is $5,900,000, the median listing price is $1,699,000 and the lowest priced listing is $745,000. The average market time for those properties is 82 days.
There are currently 3 condos that are in escrow. The average price for the home that entered escrow is $1,329,000. The highest price house is $1,800,000, the median price is $1,388,000 and the lowest priced house is $799,000. The average market time for the homes is 118.
On the Sales side there have been 23 properties close escrow. The average price of those 23 homes is $1,698,913 the highest price is $5,000,000, the median price is $1,250,000 and the lowest priced property is $720,000. The average market time for these homes is 114 days.
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For Santa Barbara Real Estate in Montecito Real Estate the Price Range Statistics for 1/1/2007 to 12/7/2007 show that there are currently 114 Home and Estate/PUDs on the market. The average price for the 114 properties is $6,375,530; the highest priced listing is $47,000,000, the median listing price is $3,595,000 and the lowest priced listing is $1,283,000. The average market time for those properties is 139 days.
There are 15 properties that are currently in escrow. The average price for those homes that entered escrow is $5,300,513. The highest price house is $20,000,000, the median price is $3,995,000 and the lowest priced house is $1,575,000. The average market time for the homes is 139.
On the Sales side there has been 171 properties closed escrow. The average price of those 171 homes is $3,758,559, the highest price is $20,000,000, the median price is $2,900,000 and the lowest priced property is $675,000. The average market time for these homes is 103 days.
For Santa Barbara Real Estate for Montecito Real Estate the Price Range Statistics for Condominiums there are currently 16 condos currently on the market. The average price for the 16 properties is $1,854,746, the highest priced listing is $5,900,000, the median listing price is $1,699,000 and the lowest priced listing is $745,000. The average market time for those properties is 82 days.
There are currently 3 condos that are in escrow. The average price for the home that entered escrow is $1,329,000. The highest price house is $1,800,000, the median price is $1,388,000 and the lowest priced house is $799,000. The average market time for the homes is 118.
On the Sales side there have been 23 properties close escrow. The average price of those 23 homes is $1,698,913 the highest price is $5,000,000, the median price is $1,250,000 and the lowest priced property is $720,000. The average market time for these homes is 114 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 12/7/2007 show that there are currently 61 Home and Estate/PUDs on the market. The average price for the 61 properties is $4,157,240; the highest priced listing is $35,000,000, the median listing price is $1,500,000 and the lowest priced listing is $575,000. The average market time for those properties is 147 days.
There are 3 properties that are currently in escrow. The average price for those homes that entered escrow is $1,130,000. The highest price house is $1,295,000, the median price is $1,100,000 and the lowest priced house is $995,000. The average market time for the homes is 100.
On the Sales side there has been 62 properties closed escrow. The average price of those 62 homes is $2,487,698, the highest price is $35,000,000, the median price is $995,000 and the lowest priced property is $630,000. The average market time for these homes is 109 days.
For Santa Barbara Real Estate for Carpinteria Real Estate/Summerland Real Estate the Price Range Statistics for Condominiums there are currently 46 condos currently on the market. The average price for the 46 properties is $635,681 the highest priced listing is $1,250,000, the median listing price is $615,000 and the lowest priced listing is $329,900. The average market time for those properties is 105 days.
There are currently 4 condos that are in escrow. The average price for those homes that entered escrow is $774,927. The highest price house is $899,000, the median price is $775,350 and the lowest priced house is $650,000. The average market time for the homes is 54.
On the Sales side there has been 54 properties close escrow. The average price of those 54 homes is $573,273, the highest price is $1,360,000, the median price is $549,000 and the lowest priced property is $370,000. The average market time for these homes is 105 days.
For the Santa Barbara Real Estate area of Goleta Real Estate North for the first 11 months of 07 in the Single Family Home market 129 homes closed escrow with a median sold price of $939,000 and an average sold price of $1,176,725. 234 homes came on the market with a median asking price of $965,000 and an average asking price of $1,248,931. Also for that period 141 properties went into escrow, 25 were withdrawn from the market, 57 listings cancelled, 84 expired and 53 came back on the market. Currently there are 76 homes for sale in the area with a median list price of $959,000 and an average list price of $1,565,753.
For the Santa Barbara Real Estate area of Goleta Real Estate North for the first eleven months of 07 in the Condo market 42 condos closed escrow with a median sold price of $544,500 and an average sold price of $570,128. 64 condos came on the market with a median asking price of $569,000 and an average asking price of $596,139. Also for that period 43 properties went into escrow, 4 were withdrawn from the market, 19 listings cancelled, 26 expired and 10 came back on the market. Currently there are 18 condos for sale in the area with a median list price of $519,000 and an average list price of $555,970.
For the Santa Barbara Real Estate area of Goleta Real Estate South for the first 11 months of 07 in the Single Family Home market 69 homes closed escrow with a median sold price of $899,000 and an average sold price of $1,108,405. 136 homes came on the market with a median asking price of $899,000 and an average asking price of $1,175,306. Also for that period 67 properties went into escrow, 10 were withdrawn from the market, 31 listings cancelled, 49 expired and 30 came back on the market. Currently there are 52 homes for sale in the area with a median list price of $925,000 and an average list price of $1,424,890.
For the Santa Barbara Real Estate area of Goleta Real Estate South for the first eleven months of 07 in the Condo market 68 condos closed escrow with a median sold price of $536,500 and an average sold price of $558,948. 108 condos came on the market with a median asking price of $575,000 and an average asking price of $574,460. Also for that period 66 properties went into escrow, 18 were withdrawn from the market, 22 listings cancelled, 52 expired and 29 came back on the market. Currently there are 31 condos for sale in the area with a median list price of $589,900 and an average list price of $592,570.
For the Santa Barbara Real Estate area of Hope Ranch Real Estate for the first 11 months of 07 in the Single Family Home market 33 homes closed escrow with a median sold price of $3,350,000 and an average sold price of $4,735,606. 40 homes came on the market with a median asking price of $3,195,000 and an average asking price of $4,891,725. Also for that period 33 properties went into escrow, 4 were withdrawn from the market, 6 listings cancelled, 12 expired and 13 came back on the market. Currently there are 10 homes for sale in the area with a median list price of $2,850,000 and an average list price of $6,658,800.
For the Santa Barbara Real Estate area of Hope Ranch Real Estate for the first eleven 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 11 months of 07 in the Single Family Home market 172 homes closed escrow with a median sold price of $1,039,500 and an average sold price of $1,179,039. 287 homes came on the market with a median asking price of $1,095,000 and an average asking price of $1,223,081. Also for that period 178 properties went into escrow, 33 were withdrawn from the market, 73 listings cancelled, 97 expired and 59 came back on the market. Currently there are 87 homes for sale in the area with a median list price of $1,149,000 and an average list price of $1,312,267.
For the Santa Barbara Real Estate area of West of State St for the first eleven months of 07 in the Condo market 72 condos closed escrow with a median sold price of $647,250 and an average sold price of $768,397. 141 condos came on the market with a median asking price of $684,900 and an average asking price of $860,189. Also for that period 72 properties went into escrow, 23 were withdrawn from the market, 52 listings cancelled, 57 expired and 40 came back on the market. Currently there are 41 condos for sale in the area with a median list price of $679,000 and an average list price of $970,104.
For the Santa Barbara Real Estate area of East of State St for the first 11 months of 07 in the Single Family Home market 203 homes closed escrow with a median sold price of $1,225,000 and an average sold price of $1,418,927. 383 homes came on the market with a median asking price of $1,299,000 and an average asking price of $1,560,227. Also for that period 203 properties went into escrow, 55 were withdrawn from the market, 75 listings cancelled, 123 expired and 96 came back on the market. Currently there are 131 homes for sale in the area with a median list price of $1,499,000 and an average list price of $1,790,546.
For the Santa Barbara Real Estate area of East of State St for the first eleven months of 07 in the Condo market 83 condos closed escrow with a median sold price of $825,000 and an average sold price of $9940,571. 125 condos came on the market with a median asking price of $899,000 and an average asking price of $1,093,724. Also for that period 83 properties went into escrow, 17 were withdrawn from the market, 21 listings cancelled, 32 expired and 20 came back on the market. Currently there are 37 condos for sale in the area with a median list price of $995,000 and an average list price of $1,170,243.
For the Santa Barbara Real Estate area of Montecito Real Estate for the first 11 months of 07 in the Single Family Home market 168 homes closed escrow with a median sold price of $2,881,250 and an average sold price of $3,732,254. 269 homes came on the market with a median asking price of $3,099,000 and an average asking price of $4,935,498. Also for that period 164 properties went into escrow, 39 were withdrawn from the market, 46 listings cancelled, 97 expired and 68 came back on the market. Currently there are 118 homes for sale in the area with a median list price of $3,590,000 and an average list price of $6,396,775.
For the Santa Barbara Real Estate area of Montecito Real Estate for the first ten months of 07 in the Condo market 23 condos closed escrow with a median sold price of $1,250,000 and an average sold price of $1,683,913. 39 condos came on the market with a median asking price of $1,450,000 and an average asking price of $1,753,499. Also for that period 19 properties went into escrow, 6 were withdrawn from the market, 7 listings cancelled, 12 expired and 10 came back on the market. Currently there are 18 condos for sale in the area with a median list price of $1,750,000 and an average list price of $1,884,472
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For the Santa Barbara Real Estate area of Carpinteria Real Estate/Summerland Real Estate for the first 11 months of 07 in the Single Family Home market 61 homes closed escrow with a median sold price of $1,025,000 and an average sold price of $2,514,710. 124 homes came on the market with a median asking price of $999,000 and an average asking price of $2,884,299. Also for that period 59 properties went into escrow, 17 were withdrawn from the market, 22 listings cancelled, 43 expired and 24 came back on the market. Currently there are 60 homes for sale in the area with a median list price of $1,495,000 and an average list price of $4,210,495.
For the Santa Barbara Real Estate area of Carpinteria Real Estate/Summerland Real Estate for the first eleven months of 07 in the Condo market 54 condos closed escrow with a median sold price of $549,500 and an average sold price of $573,273. 118 condos came on the market with a median asking price of $615,000 and an average asking price of $631,060. Also for that period 58 properties went into escrow, 11 were withdrawn from the market, 31 listings cancelled, 69 expired and 23 came back on the market. Currently there are 44 condos for sale in the area with a median list price of $627,000 and an average list price of $649,714.
The Condo market for the Goleta Real Estate North area of Santa Barbara the inventory is down by 7% from 115 last year to 106 this year. The new listings are down an even more dramatic 18% with 98 in 06 compared to 80 in 07. As you would expect numbers of escrow is down from 50 last year to the current 44 for a 12% drop but the numbers of sold properties is exactly where it was with 44 sales in each year. The average sales price has declined slightly from $592,114 to the current $581,054 for a 1% drop.
For Home Estates in the Santa Barbara Real Estate area of Goleta Real Estate North the total inventory is up by 18 for a 5% rise but the new properties are down by 1% from 265 last year to 261 this year for a 1% drop. The numbers of escrows has also seen a decline from 143 in 06 to the current 136 a 4% drop. But the numbers of sold properties is down a much more dramatic 14% from 145 in 06 to 124 in 07. The Average Sales price has remained up however posting $1,060,461 in 06 to the current $1,188,388 in 07 for a 12% rise.
The PUD market for the Santa Barbara Real Estate area of Goleta Real Estate North numbers for the total inventory is up this year from 18 to 22 for a 22% rise but the numbers of new listings is down from 18 to 17 for a 5% decline. The numbers of escrows has rise however from 9 in 06 to 12 in 07 for a 33% increase and the numbers of sold properties has gone up from 9 to 11 for a 22% rise. The biggest rise however is in the Average Sales price. In 06 we saw $822,378 and now we see $968,773 for a 17% surge.
The Condo market for the Goleta Real Estate South area of Santa Barbara there is a slight decline in the numbers of homes that have been on the market this year from 170 in 06 to the current 154. The numbers of new listings is also down from 141 last year to 130 this year. But numbers of escrows is up by 13% from 59 last year to 67 this year. Also the numbers of sold properties is up from 59 last year to 68 this year for 15% rise. The Average Sales price however is almost exactly where it was last year. In 06 we saw $576,788 and currently its at $576,243 for about a 1% decline.
For Home Estates in the Santa Barbara Real Estate area of Goleta Real Estate South the total inventory is down by 4 properties from 185 to 181 for a 2% decline and the new listings are down by 1 from 160 to 159. The numbers of escrow is down dramatically from 93 last year to 65 this year for a 30% and the numbers of sales has declined from 85 to 64 for a 24% drop. With the decline in the numbers of sales weve actually seen a rise in the Average Sales price from $1,014,907 last year to the current $1,091,094 a 7% surge.
The PUD market for the Santa Barbara Real Estate area of Goleta Real Estate South there is very little difference when viewed year over year. The total inventory is exactly the same with 14 properties on sale in both years and the new listings are down by 1 with 14 in 06 and 13 in 07. The numbers of home in escrow has risen in 07 where we see 12 properties as opposed to 9 last year for a 33% rise. The numbers of sales is also up with 9 in 06 compared to 11 this year. The Average Sales price is down however from $1,270,714 last year to $1,102,444 this year fro a 13% decline.
The Condo market for the Hope Ranch Real Estate area of Santa Barbara estate saw now activity.
For Home Estates in the Santa Barbara Real Estate area of HHope Ranch Real Estate the inventory is almost exactly what it was in 06 when we saw 60 total listings. In 07 there have been 59. The numbers of new listings is down even further from 46 in 06 to the current 43 in 07. Despite this fall in the numbers of units to sell weve seen a huge rise in the numbers of escrows from 19 at this time in 06 to the current 34. This is a 78% in the numbers of pended properties but pales in comparison to the numbers that actually sold. This number is up by 157% from 14 last year to 36 this year. To put the icing on the cake, the Average Sales price is up by 66% from $2,781,071 last year to $4,640,694 this year.
The PUD market for the Santa Barbara Real Estate area of Hope Ranch Real Estate saw no activity.
The Condo market for the West of State St area of Santa Barbara Real Estate sees a small raise in the numbers of units available from 195 in 06 to 202 in 07. But the numbers of new properties that came on the market this year went from 175 last year to the current 161 for an 8% drop. Despite the decline of new properties for sale the numbers of escrows is up by 19% and the numbers of sales is up by 8%. The Average Sales price has also risen from $708,867 last year to $771,502 this year for an 8% increase.
For Home Estates in the Santa Barbara Real Estate area of West of State there have been fewer homes to sell but not by much. In 06 the total numbers available was 426 and currently its 422. New listings are down more dramatically with 366 for 06 and 336 for 07 giving us an 8% decline. Despite having fewer homes to sell the overall escrows are up by 5% but the numbers of sales is down by 1%. The Average Sales price is down about 7% from $1,295,423 last year to the current $1,203,060.
The PUD market for the Santa Barbara Real Estate area of West of State St there are more properties to sell this year and more new properties on the market. The overall inventory is up by 53% and the new properties are up by 33%. Escrows are up 150% and the numbers of sales are up by 100%. Accompanying this expansion in sales is a rise in the Average Sales price from $927,500 last year to $1,159,750 this year. This surge gives us a 25% increase in the Average Sales price.
The Condo market for the East of State St area of Santa Barbara Real Estate as far as inventory is concerned is off by 13% from last year and the numbers of new listings this year is down by 20%. Interestingly enough when you look at the decline in the numbers of available properties there is a rise in the numbers of escrows by 12% and a rise in the numbers of sales by 15%. The Average Sales price has also rise by 3% from $923,234 in 06 to $957,361 in 07.
For Home Estates in the Santa Barbara Real Estate area of East of State the inventory has raised by a modest 1% but the numbers of New Listings is up by 3%. Unfortunately even thought there have been properties to sell, fewer entered escrow which is down by 5% and fewer were sold which is down by 2%. The Average Sales price is also off by about 9% with a decline from $1,576,773 last year to $1,428,253 this year.
The PUD market for the Santa Barbara Real Estate area of East of State St see the inventory up slightly from 7 units last year to 8 units this year. Likewise the numbers of new listings is up by 1 from 6 in 06 to 7 in 07. The numbers of escrows and the numbers of sales is exactly where it was showing 2 escrows and sales for both 06 and 07. The Average Sales price has risen by $10,000 from last year to this. 06 it was $1,095,000 and now its $1,105,000.
A look at whats gone on in the a href="http://www.santabarbaraproperties.com/" target="_blank">Santa Barbara Real Estate areas for Montecito Real Estate, Hope Ranch Real Estate, Carpinteria Real Estate/Summerland Real Estate and Goleta Real Estate.
Normally, when I put together these reports together I do it anywhere between the 4th and 7th of the month. This gives the offices a chance to put in any sales which occurred in the previous month but for one reason or another didnt get posted to the Multiple Listing Service by the 1st of the month. This month, due to speaking engagements and general craziness for the first week of December Im compiling the data on the 1st. There are usually anywhere between 10% and 15% more sales that get reported the first week of the month so keep that in mind when reading this information.
All that said, for the Month of November we had 48 Home Estate/PUD sales. This matches the number we saw in September but considerably behind what we saw in October. The Median Sales price for the month is down to $1,115,000 which I see as a good thing because it means that there is a great deal more activity below the $2 million mark. At the $2 million and above mark we see 13 of the 48 sales with the top priced property being a Montecito home which closed at $20 million. The lowest priced sale was on the lower East Side of Santa Barbara and came in at $541,000. The top end of the market is still doing very well with 4 properties over $5 Million closing escrow in November.
To give you a little perspective, 48 Home Estate/PUD sales for November 07 compares to 60 in November 06. Also for the month we saw 50 properties go into escrow compared to the 76 we saw in November 06. I have heard a lot anecdotal information about increased activity, but at this point the numbers of sales for November are lagging about 15% from the previous year. Also, the Days on the Market are starting to stretch out from the mark set in 06. For November 07 it took 111 Days to get a property into escrow as opposed to the 97 in 06.
We may be at a tipping point in the market as we get through November. The numbers of sales is exactly where it was last year at this time with 835 homes closing escrow. The Median Sales price is still ahead of the06 pace when it was $1,180,000 versus the present mark of $1,250,000 when you look at the entire year. But Hope Ranch and Montecito in the mix the Median Sale price is also above the 06 mark but just barely. In 07 the number has been $1,047,000 through November and in 06 it was $1,045,000.
The properties that have gone into escrow this year have slipped below the 06 level when it was 860 through November compared to the current 845. And the properties that have fallen out of escrow have risen from the 12.8% mark of 06 to 13.3% point now.
New Listings are down about 5.25% but the overall inventory is almost exactly where it was last year when we saw 2,176 properties on the market compared to 2,194 in 07. Taking a month by month look at the inventory we see that in November 05 there were 397 Homes on the market, in November 06 there were 487 and currently there are 535 Home Estate PUDs available for purchase which means that the inventory is growing.
The overall economic numbers are still good. Un-employment is low, the interest rates are down and there is money to lend to qualified buyers but it looks like even in Santa Barbara the buyers are starting to stand around looking for further declines in the Median Sales price. I think some areas should continue to come down, but others like the Upper East Side of Santa Barbara, Hope Ranch and Montecito will continue to remain strong for the foreseeable future.
Over on the Condo, side sales remain sluggish. The trend that started in October has continued with 22 Sales closing and 22 Condos entering escrow. This compares to the 06 numbers of 30 sales for November with 24 entering escrow. Of the 22 sales, 2 were below $400,000, 5 from $450,000 to $499,000, 2 at $600,000 to $649,000 and 3 at $650,000 to $699,000. The lowest priced condo went out at $370,000 and was in the Carpinteria area and the highest condo sold for $2,100,000 in the Upper East Side section of Santa Barbara.
Comparing 06 to 07, the numbers of sales is still ahead by about 12% this year. The Median Sales price remains about 4% behind and the properties that entered escrow is about 10% ahead of the 06 pace. On the downside the numbers of properties that have fallen out of escrow is climbing in 07. Last year it was at 7.4% and currently its at about 9%. At the end of November there were 190 Condos available from Carpinteria to Goleta compared to 217 in 06 and 149 for 05.
Looking at the numbers for the 7 Districts in the Santa Barbara Real Estate market we see that every District except Goleta North is ahead of the numbers of sales posted in 06. The smallest rise in the percentage of sales has been in Carpinteria/Summerland with a 7% increase and the largest is 55% for the Montecito area. The Goleta North area is 2 sales behind the 06 pace for a 4% decline.
The Average Condo Sales Price is more of a mixed bag. Carpinteria/Summerland is 9% down; Montecito is up by 3% as is the East of State St area. West of State St has risen on average by 8%. And both Goleta North and South are down by about 2%.
In talking to Realtors around town they tell me that there is an increase of activity in the Condo market but so far that is not reflected in the numbers. One interesting anecdotal aside is that an inspector friend of mine tells me that he did 3 inspections last month for Realtors buying houses for themselves. This tells me that theyre convinced its a good time to buy.
I think the decline in the Condo market is a result of the lenders tightening the requirements on borrowers. This trend should take a little while to shake out, so well have to keep watching this segment of the marketplace.
In the Montecito Real Estate area of Santa Barbara Real Estate for the Condo Market the numbers of listings for all of 07 is down by 10% and the numbers of new listings is down by 11%. The good news is despite this drop off in product to purchase the buyers have about doubled the numbers of units sold. Last year at this time the number was 15 and right now its at 28 for an 86% increase. The Average Sales price has not seen such a dramatic rise however even though it is up. Last year it was $1,650,233 and now its $1,690,357 for a modes 2% gain.
In the Single Family Home market for the Santa Barbara Real Estate area of Montecito Real Estate the overall numbers of units for sale is up by a mere 1% but the numbers of new listings is down by 4%. Despite this fall in the numbers of properties to purchase we see an 8% rise in the numbers of escrow and an even more robust 15% rise in the numbers of sales. With this increased number of sales we see a slight decline of 4% in the Average Sales price. Last year it was $3,849,195 and currently its $3,672,674.
In the Santa Barbara Real Estate area of Montecito Real Estate for the Planned Unit Development Market the numbers of units to sell is off dramatically. Last year there were 6 total properties on the market for the year and this year there has been only one. And for 07 there were no new listings. The tally shows us 5 in 06 compared to 0 for 07. Because of this lack of inventory the escrows are also off dramatically. Last year there were 4 and this year there has been only 1 for a 75% decline. Also the sales are off with 3 for 06 compared to 1 for 07. The only bright spot in all this is that the sales price for that one property was $2,325,000 compared to the Average Sales price for 06 of $1,850,000.
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