For West of State St in Santa Barbara Real Estate of Home Estate/PUDs numbers of sales for 08 is down with 20 properties closing escrow as opposed to 40 in 07. The Median Sales price is also rather dramatic. In 08 its been $865,000 compared to $990,000 in 07. The Average Sales price however is rather close together. In 08 its been $1,058,850 compared to the 07 number of $1,080,887. The Days on the Market numbers are about 3 weeks apart. In 08 its taken 74 days to get an accepted offer as opposed to 93 in 08.
For Condominiums on the West Side of Santa Barbara Real Estate there have been 10 sales as opposed to 13 for 07. But the really big bulge occurs with the Average Sales price. In 08 the average sales price has been $806,800 compared to $603,500 for 07. The Median Sales price is rather close however. In 08 it has been $660,000 compared to the 07 number of $640,000. The Days on the Market for 08 has been 80 days compared to the 07 number of 116.
For the East of State St Home Estate/PUDs for Santa Barbara Real Estate there have been 26 sales compared to 45 for 07. But interestingly the Median Sales price is exactly reversed. For 08 that number has been $1,137,500 compared to the 07 number of $1,000,000. The Average Sales numbers mirror those for the Median Sales number. In 08 the Average has been $1,286,557 compared to 07 when it was $1,168,263. The numbers that are really close however are the Days on the Market. In 08 its been 96 and in 07 it was 99.
For Condominiums in the East of State St area of Santa Barbara Real Estate there have been 11 sales compared to 22 last year. And there is an equal bulge as far as Median Sales price is concerned. In 08 its been $675,000 compared to $762,000 for 07. But the Average Sales price has been very close. In 08 its been $820,818 compared to last years number of $832,613. On the upside it has take dramatically less time to get an accepted offer. In 08 its been 126 compared to the 07 number of 161.
Through the middle of March 08 for Montecito Real Estate weve seen 28 Home Estate/PUD sales compared to 38 for 07. But the high end has really taken over in 08 tilting the Median Sales price up to $3,992,500 compared to $2,881.250 for 07. And the bulge for the Average Sales price is even larger where we see a $5,178,071 number posted for 08 compared to a $3,831,578 number for 07. For 08 its taken about 3 weeks longer to get an accepted offer but I think waiting 3 weeks more for more than a million dollars is a reasonable trade off.
For Condominiums in Montecito Real Estate there have been 2 sales compared to 10 in 07. The Median Sales price is a lot closer. In 07 that number was $1,500,000 compared to the 08 number of $1,555,000. The Average Sales price is also very close with a $1,555,000 number posted for 08 compared to a $1,666,000 number for 07. It has taken longer in 08 get an offer with the current Days on the Market being 162 compared to the 07 number of 149.
Check Out Montecito Real Estate on Squidoo
Through the middle of March 08 for Carpinteria/ Summerland Real Estate there have been 5 sales compared to the 13 that were posted for the same period in 07. This is a significant 25% reduction in the numbers of sales. But the biggest difference is in the median sales price where we see a $946,125 number posted for 08 compared to $1,615,000 last year. This median and average sales numbers can be deceptive for Carpinteria/Summerland however because of the diversity of properties. A few of the homes in the beach area or foothills can skew these numbers dramatically. The days on the market has lengthened by almost 3 weeks. In 08 its been 107 days for sellers to get an accepted offer compared to 86 for 07.
For Condominiums in Carpinteria Real Estate/ Summerland Real Estate there have been 5 sales in 08 compared to 6 in 07. The Median Sales price for those periods is also rather close. In 08 the Median Sold price has been $525,000 compared to $537,500 in 07. Also the Average Sales price is close for both years. In 08 its been $541,000 compared to $525,500 for 07. As far as Days on the Market is concerned for 08 its taken 111 Days to get an accepted offer as opposed to 149 in 07.
Please give a listen to our podcasts at Santa Barbara Real Estate Podcasts
For Goleta Real Estate North area of Santa Barbara Real Estate the Price Range Statistics for 1/1/2008 to 3/15/2008 show that there are currently 67 Home and Estate/PUDs on the market. The highest priced listing stands at $11,250,000 with the least expensive home listed at $319,000. That wide diversity of prices pushes the average list price up to $1,561,414 but the median list price of $999,000 gives a more accurate picture. The average market time for the 67 homes is 111 days.
18 Home Estate are currently in escrow in Goleta North. The highest priced listed home is $2,449,000 with the least expensive property listed at $325,000. Even with the $2 Million home in escrow the average list price for the 18 houses is $982,247 with the median list price dipping down to $799,000. The average market time for those homes currently in escrow is 79 days.
For Goleta North Sales in 2008 there have been 27 properties close escrow. The most expensive home sold for $3,740,000 and the least expensive home sold for $545,000. For those 27 homes the average sales price was $1,034,192 while the average dips down to $810,000. The good news out of that bunch of numbers is that the average market time was only 70 days.
For Goleta Real Estate North the Condo Price Range Statistics for Santa Barbara Real Estate there are currently 22 condos on the market. The highest priced condo currently being marketed is listed at $989,000 with the least expensive listing showing up at $329,000. Even with the $989,000 number as the top the average priced condo in Goleta North is $523,226 with the median going down to $499,999. Average market time for those 22 properties is at 115 days.
There are 3 condos in Goleta North that are in escrow. The most expensive condo currently in escrow has a $605,900 price tag on it while the least expensive condo is only $369,000. The average and median numbers are very close together with a $498,113 average and a $519,500 median list price.
In Goleta North for 2008 there have been 5 condos close escrow. The highest priced condo went out for $730,000 while the lowest priced condo sold for $410,000. When you average out the sales numbers those 5 properties come in at $527,800 with a median sales price of $470,000. But the really good news is that the average market time for the 5 was only 33 days.
In the Goleta Real Estate South areas for 1/1/2008 to 3/15/2008 show that there are currently 47 Home and Estate/PUDs on the market. The highest priced listing is $15,000,000 with the least expensive home listed for $550,000. The $15 Million listing definitely tilts the average list price which shows up at $1,524,948 compared to the median list price of a more accurate $925,000. The average market time on these 47 homes is currently at 122 days.
Currently there are 12 properties in escrow in Goleta South with the highest listed property at $1,687,000 and the least expensive home showing up at $679,000. The average price of the homes in escrow is $867,391 with the median trending down to $750,000. Average time for those 12 properties to get into escrow has been 90 days.
In Goleta South for 2008 there have been 14 properties closed escrow. The highest priced home that closed was at $2,525,000 with the least expensive property closing at $615,000. With the over $2 Million sale dragging up the average to $1,113,357 we get a more accurate picture of the area with the $785,000 median sales price and the average market time of 83 days.
Goleta Real Estate South the Price Range Statistics for Condominiums for this area of Santa Barbara Real Estate shows that there are currently 33 condos on the market. The highest priced condo is listed at $925,000 and the least expensive property listed at $279,000. Even so the average for the area is $583,872 and the median is right up there at $589,900. For those 33 condos the average market time stands at 77 days.
14 condos are now in escrow for the Goleta South area. The highest priced listing is $740,000 with the lowest priced condo showing up at $274,900. For the pending properties the average list price is $555,092 and the median list price is slightly higher at $600,000. The average market time is slightly over 2 months at 66 days.
For Sales in Goleta South area for condos in 2008 there have been 11 properties close escrow. The most expensive condo sold in the area in 2008 stands at $925,000 with lowest priced condo closing at $288,000. With this wide diversity of numbers amazingly the average and median numbers are rather close. The average sales price for the area has been at $612,090 and the median sales price is only $3,000 different at $615,000. Average market time for those 11 homes has been 79 days.
For Hope Ranch Real Estate for 1/1/2008 to 3/15 /2008 there are currently 11 Home Estates on the market. The highest priced listing is a whopping $28,950,000 with the lowest priced listing still showing up above $2 Million and coming in at $2,175,000. With the $28 Million listing leading the way the average listing price in Hope Ranch zooms up to $6,387,272 but the median list price is a not insubstantial $2,995,000. The average market time for those 11 homes is 124 days.
There are 2 properties currently in escrow in Hope Ranch and theyre both around the same price range. The highest priced property is listed at $2,495,000 and the lowest priced property is listed at $1,895,000. The average market time for those 2 homes was over 6 months at 182 days.
For Sales in Hope Ranch for 2008 there have been 6 Homes close escrow. So far in 08 the highest priced closed property was $4,600,000 with the least expensive home closing at $1,635,000. When you average it all out the number comes to $2,887,346 with the median sales price slightly lower at $2,259,080. For those 6 homes the average market time was a rather brisk 86 days.
For Santa Barbara Real Estate for Hope Ranch Real Estate the Price Range Statistics for Condominiums was no activity
In the West of State St area for 1/1/2008 to 3/15/2008 for Santa Barbara Real Estate 88 Home and Estate/PUDs are now on the market. The highest priced property is listed at $5,500,000 and the lowest priced home is less than 10% of that number coming in at $524,900. The Average for the current listing is still at $1,316,433 with the median list price slightly lower at $1,140,000. As of now the Average Market time for the homes for sale stands at 104 days.
As of 3/15 there are 22 Homes in escrow with the highest priced home showing up at $1,795,000 and lowest priced property in escrow displaying at $499,900 price tag. The Average List price for these properties currently in escrow is $1,050,240 with the median list price only $100,000 off at $949,900. The Average Market time for these homes is 81 days.
In 2008 on the West Side 18 homes have closed escrow with the highest sales being $2,645,000 and the least expensive home selling for $600,000. Even so the Average sales price has been $1,118,777 with the median sales price farther down the road at $890,000. The average market time on those 18 homes was a brisk 79 days.
West of State St area for Condominiums for Santa Barbara Real Estate51 condos are currently on the market. The highest listed Condo price is $2,595,000 with the lowest dipping below $400,000 at $399,000. The average for those 51 condos is a very healthy $953,270 but the median list price dips down to $695,000. For the condo inventory on the West Side the average market time is 102 days.
7 condos are now in escrow on the West Side and the average price for those 7 homes is $516,571. The West Side numbers are grouped a lot more tightly together than the other districts. The highest priced condo in escrow is $599,000 the lowest price condo is $439,000 giving us a median list price of $525,000. The average market time for the properties in escrow is 94 days.
For West Side condos 8 condos have closed escrow thus far in 2008. The highest priced sale was $2,150,000 with the lowest a microscopic $385,000. When you throw all the numbers together it means that the average condo sales price has been $874,125 and the median sales price has been $685,000. For those 8 condos that closed the Average Market Time was 100 days.
In the West of State St area for 1/1/2008 to 3/15/2008 for Santa Barbara Real Estate 88 Home and Estate/PUDs are now on the market. The highest priced property is listed at $5,500,000 and the lowest priced home is less than 10% of that number coming in at $524,900. The Average for the current listing is still at $1,316,433 with the median list price slightly lower at $1,140,000. As of now the Average Market time for the homes for sale stands at 104 days.
As of 3/15 there are 22 Homes in escrow with the highest priced home showing up at $1,795,000 and lowest priced property in escrow displaying at $499,900 price tag. The Average List price for these properties currently in escrow is $1,050,240 with the median list price only $100,000 off at $949,900. The Average Market time for these homes is 81 days.
In 2008 on the West Side 18 homes have closed escrow with the highest sales being $2,645,000 and the least expensive home selling for $600,000. Even so the Average sales price has been $1,118,777 with the median sales price farther down the road at $890,000. The average market time on those 18 homes was a brisk 79 days.
West of State St area for Condominiums for Santa Barbara Real Estate51 condos are currently on the market. The highest listed Condo price is $2,595,000 with the lowest dipping below $400,000 at $399,000. The average for those 51 condos is a very healthy $953,270 but the median list price dips down to $695,000. For the condo inventory on the West Side the average market time is 102 days.
7 condos are now in escrow on the West Side and the average price for those 7 homes is $516,571. The West Side numbers are grouped a lot more tightly together than the other districts. The highest priced condo in escrow is $599,000 the lowest price condo is $439,000 giving us a median list price of $525,000. The average market time for the properties in escrow is 94 days.
For West Side condos 8 condos have closed escrow thus far in 2008. The highest priced sale was $2,150,000 with the lowest a microscopic $385,000. When you throw all the numbers together it means that the average condo sales price has been $874,125 and the median sales price has been $685,000. For those 8 condos that closed the Average Market Time was 100 days.
For the East of State St area of Santa Barbara Real Estate there are currently 136 Home Estate for Sale. The highest priced listing is $7,950,000 and the least expensive home is listed at $399,000. So theres an opportunity to own a home in Santa Barbara under $400,000. Despite the $399,000 home the Average for the area is $1,746,179 and the Median List price is $1,489,000. Currently the Average Market time for those properties is 94 days.
Currently there are 19 Homes in escrow in the area with a top list price of $2,700,000 and a low list price of $459,900. The Average for all those 19 homes is still a healthy $1,277,082 and the Median List price an even healthier $1,300,000. The Average Market time is currently at 93 days.
On the East Side of Santa Barbara there has been 25 Homes close escrow so far in 08. The highest priced Estate went out at $3,400,000 and the lowest sold for a paltry $589,000. Despite the over all lower prices the Average for the area is still $1,322,020 with a Median Sales Price of $1,175,000 and an Average Market time of 98 days.
For Condominiums in the East of State St area for Santa Barbara Real Estate we have 45 condos on the market. The highest priced condo on the East Side is listed for $2,247,000 and the lowest is a mere $515,000. When you put it all together that gives you an Average List price of $1,054,015 but a Median List price of only $899,000. Those 45 condos have an Average Market Time of 90 days.
5 condos on the East Side are now in escrow with a high list price of $1,165,000 and a low list price of $510,000. The prices are definitely drifting downward for East Side condos because the Average is $856,600 with a Median List price of $850,000. It took an Average of 155 days to Market those properties in escrow.
For Sales on the East Side of Santa Barbara there have been 10 condos close escrow in 2008. The highest priced condo on the East Side closed for $2,200,000 with the lowest going for below $300,000 at $290,000. Even so the Average Sales price showed up at $855,400 but the Median Sales price drifted down to $675,000. The Average Market time for those condos was 100 days.
For Santa Barbara Real Estate in the Montecito Real Estate area there are currently 130 Home Estates for sale. Its been a brisk year in Montecito with prices definitely trending upward. The highest priced listing is $47,000,000 and the lowest is $1,175,000. This gives us a robust Median List price of $3,775,000. Homes in that price range generally take longer to sell so its not unusual to see an Average Market Time of 139 days.
As of March 15 there were 15 properties in Escrow. The Highest Priced property was listed at $7,950,000 and the lowest priced home was at $875,000. So amazingly it is possible to live in Montecito for below $1 Million. Even so, the Median List price for the homes that are in escrow was $2,795,000 and the days, but the days on the Average Market time dipped to a zippy 57 days.
Through the middle of March 26 properties had closed escrow. The highest priced property was $21 Million and the lowest priced home came in at $1,229,000. When you put all that together it means that the Average Priced property in Montecito for 08 was $5,299,461 which is just an amazing number. The sellers had to way 134 days, but hey Id wait a lot longer than that for that kind of money.
For Montecito Real Estate in the Santa Barbara area Condominiums there are currently 14 condos on the market. The highest priced condo is listed at $5,900,000 and the lowest priced one is at $745,000. Even with the $745,000 condo this gives us an Average List price for the 14 of $2,214,496 with an Average Market Time of 104 days.
Only 1 condo is currently in escrow in Montecito. The list price of that one condo is $2,450,000 and it was on the market for 126.
For Sales through March 15 there have been only 2. The highest priced sale was $1,750,000 and the lowest priced sale was $1,360,000 give us an Average Sales price of $1,555,000. So at this point the Montecito Condo market is definitely quiet and currently not showing much movement.
Check Out Montecito Real Estate on Squidoo
For Santa Barbara Real Estate in Carpinteria Real Estate/Summerland Real Estate the Price Range Statistics for 1/1/2008 to 3/15/2008 there were 44 Home Estate/PUDs on the market. Of those homes the highest price once is listed for $35 million and the lowest for $575,000. The $35 Million home along with other high priced properties skews the Average way up to a whopping $4,049,086, but the Median List price is still up there at $1,350,000. Currently the Average Time these homes have been on the market is 139 days.
Currently there are 9 Homes in escrow with a high of $1.32 million and a low of $499,900. The median price for the homes in escrow is $889,000. The average market time is right at 101.
Looking at sales for the first part of the year, there have been only 7 Home Estate close escrow. The highest priced sale was $7,500,000 with the lowest showing up at $649,900 giving us a Median Sales price of $1,035,000. The activity for Carpinteria/Summerland is about half of what it was last year at this time and over all the sales prices have been drifting down.
For Carpinteria Real Estate/Summerland Real Estate area for Condominiums currently there are 32 condos on the market. This number is definitely starting to slide down. The highest listed condo is $997,000 and the lowest is priced at $319,000 giving us a median list price of $559,000. The Average market time for all those properties is 128 days.
Currently there are only 2 condos that are in escrow and theyre both in the lower end of the market. The highest priced condo in escrow is listed at $299,900 and the lowest is at $279,900. The really tough number is that it took 141 days for the condos to get into escrow. So the seller had to not only taken less but it took a longer time to get those numbers.
Condo Sales have been better than they were in 07 at this time. 5 Condos have closed escrow with a high of $785,000 and a low of $325,000. This gives us a median sales price of $541,000 which while lower than what it was last year is still a pretty healthy number. The average market time for those condos that closed is 111 days.
The Condo market for the Goleta Real EstateNorth area of Santa Barbara the inventory is down by 34% from 47 last year to 31 this year. The new listings are down by 33% with 21 in 07 compared to 14 in 08. As you would expect numbers of escrow is down from 11 last year to the current 5 for a 45% drop and the numbers of sold properties is also way down with 11 in 07 compared to 4 in 08. The average sales price has risen slightly from $526,970 to the current $527,800.
For Home Estates in the Santa Barbara Real Estate area of Goleta Real EstateNorth the total inventory is up by 6 for a 5% rise and the new properties are also up by 12% from 48 last year to 54 this year. The numbers of escrows has seen a decline from 42 in 07 to the current 35 a 16% drop. But the numbers of sold properties is up from 23 in 07 to 24 in 08. The Average Sales price has risen slightly posting a $1,040,452 in 07 to the current $1,065,092 in 08 for a 2% increase.
The PUD market for the Santa Barbara Real Estate area of Goleta Real EstateNorth numbers for the total inventory are down this year from 7 to 4 for a 42% decline. The numbers of new listings is identical for both years with 2. But the numbers of escrow is down from 2 in 07 to 0 this year. The sold PUDs are not doing as poorly however show 3 for last year vs. 2 for this year. And remarkably the average sales price has risen from $868,333 in 07 to $952,500 in 08.
The Condo market for the Goleta Real Estate South area of Santa Barbara there is a rise in the numbers of homes that have been on the market this year from 50 in 07 to the current 61. The numbers of new listings is up from 26 last year to 27 this year. And the numbers of escrows is up by 3 for an 18% rise. The numbers of sold properties is down however from 15 last year to 7 this year for a 53% drop. The Average Sales price has also dropped from 07 when it was $612,134 and currently its at $577,285.
For Home Estates in the Santa Barbara Real Estate area of Goleta Real Estate South the total inventory is up by 21 properties from 54 to 75 for a 38% rise but the new listings are down by 1 from 32 to 31. The numbers of escrow is slightly from 18 last year to 17 this year for a 5% decline and the numbers of sales has fallen from 15 to 11 for a 26% drop. With the decline in the numbers of sales weve seen a rise in the Average Sales price from $984,133 last year to the current $1,226,364 a 24% rise.
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 up by 1, but there have been no new listings compared to the 3 last year at this time. Escrows are also off by the same number but sales are down by just 1 from 2 last year to 1 this year. The Sales price of the 1 property was $615,000 compared to the $781,000 number of last year.
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 Hope Ranch Real Estate the inventory is down from what it was in 07 when we saw 24 total listings. Currently there have been 21 active listings in the area. But the numbers of new listings is up from 8 in 07 to the current 11 in 08. The numbers of escrows is up by 1 from last, but the numbers of sales is 1 behind. The Average Sales price is down by 12% from $3,509,000 last year to $3,082,816 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 decline in the numbers of units available from 73 in 07 to 67 in 08. But the numbers of new properties that came on the market this year is exactly where it was last year at 32. The numbers of escrows is down rather substantially by 9 and the numbers of sales is off by 3.
But the Average Sales price rose from $634,050 last year to $908,286 this year for a 43% increase.
For Home Estates in the Santa Barbara Real Estate area of West of State there has been a slight rise in the total active numbers for 08. In 07 the total numbers available was 150 and currently its 155. New listings are also up with 64 for 07 and 69 for 08 giving us a 7% rise. The overall escrows are down by 11 and the numbers of sales is down by 15. The Average Sales price is up about 2% from $1,125,306 last year to the current $1,151,438.
The PUD market for the Santa Barbara Real Estate area of West of State St there are fewer properties to sell this year and fewer new properties on the market. The overall inventory is down by 4 and the new properties are down by 2. Escrows are down by 1 and the numbers of sales are also down by 1coming in at 0 sales. Since nothing sold both years there is no Average Sales price.
For Condos in the Santa Barbara Real Estate area of East of State the inventory has raised by a modest 1% and the numbers of New Listings is exactly the same as it was last year with 33. Unfortunately many fewer properties entered escrow which is down by 54% and fewer were sold which is down by 58%. But the Average Sales price is up by about 22% with a rise from $719,853 last year to $883,857 this year.
The Home Estate market for the East of State St area of Santa Barbara Real Estate as far as inventory is concerned is up by 24% from last year and the numbers of new listings this year is up by 9%. There is a decline in the numbers of escrows by 40% however and a decline in the numbers of sales by 38%. But the Average Sales price has risen modestly by 22% from $1,135,235 in 07 to $1,392,808 in 08.
The PUD market for the Santa Barbara Real Estate area of East of State St we see the inventory up from 1 unit last year to 5 units this year. But the Numbers of New Listings went up by only 1. Escrows and Sales is exactly the same for both years, its 0.
In the Montecito Real Estate area of Santa Barbara Real Estate for the Condo Market the numbers of listings for all of 08 is down by 2 but the numbers of new listings is down by 5. The numbers of escrows is way behind this year with 1 as opposed to 10 last year. Also the numbers of sales are down with 2 closing this year as opposed to 10 last year. The Average Sales is down however. Last year it was $1,711,000 and now its $1,555,000 for a 9% decline.
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 about 5% and the numbers of new listings is up by 1. There have been 12 fewer escrows this year as opposed to last but 3 fewer sales so far this year. The Average Sales price at this time last year was $4,011,167 and currently its a whopping $5,230,778.
In the Santa Barbara Real Estate area of Montecito Real Estate for the Planned Unit Development Market the numbers of units to sell is up by 1. Last year there was 1 total property on the market for the year and this year there has been 2. There have been 2 new properties come on the market this year as opposed to 0 at this time last year. But everything else is zeros for both years. Not Escrows and Sales were recorded for either period.
Check Out Montecito Real Estate on Squidoo
For the Santa Barbara area of Carpinteria Real Estate/Summerland Real Estate for the condo market 08 has some changes and some similarities with 07. The overall total active listings are down by 32% with 77 in 07 and 52 for 08, and the new listings are down even further with 37 in 07 and 14 in 08 for 62% decline. Condos that entered escrow are also down markedly from 14 in 07 to 6 in 08. But remarkably the numbers of sales is down by only 1 from 5 last year to 4 this year. And even more remarkably the average sales price I basically the same with $511,000 last year vs. $513,000 this year.
For Home Estates in Carpinteria Real Estate/Summerland Real Estate the total numbers of listings available for sale is up about 17% but the number of new listings is down by 18%. The number of homes entering escrow is slightly behind where it was last year when we had 17 and currently were at 14. The Average Sales Price is way down from $6,558,192 last year to $2,107,628 this year which is a 67% decline.
In the Santa Barbara area of Carpinteria Real Estate/Summerland Real Estate for the PUD market the inventory is exactly where it was last year with 2 and the new PUDs are also where there were with 1.
The Escrows are also the same at 0 and the sales likewise at 0 for both years.
For the Santa Barbara Real Estate area of Goleta Real Estate North for the first 2 months of 07 in the Single Family Home market 18 homes closed escrow with a median sold price of $927,000 and an average sold price of $992,383. For 08, 19 homes closed escrow with a median sales price of $410,000 and an average sales price of $1,085,063. For 07, 38 homes came on the market with a median asking price of $1,150,000 and an average asking price of $1,808,675. For 08, 44 new homes came on the market with a median list price of $900,000 and an average list price of $1,137,418. Also for 07 37 properties went into escrow, 0 were withdrawn from the market, 5 listings cancelled, 16 expired and 6 came back on the market. For 08 30 homes went into escrow, 5 were withdrawn, 5 cancelled, 24 expired and 12 came back on the market. Currently there are 54 homes for sale in the area with a median list price of $929,000 and an average list price of $2,053,566.
For the Santa Barbara Real Estate area of Goleta Real Estate North for the first two months of 07 in the Condo market 9 condos closed escrow with a median sold price of $550,000 and an average sold price of $520,522. For 08, 4 condos closed escrow with a median sales price of $455,000 and an average sales price of $477, 250. In 07 18 condos came on the market with a median asking price of $570,000 and an average asking price of $589,172.
In 08 13 new condos came on the market with a median list price of $519,500 and an average list price of $542,953. Also for 07 9 properties went into escrow, 3 were withdrawn from the market, 4 listings cancelled, 5 expired and 2 came back on the market. For 08, 5 condos went pending, 2 were withdrawn, 2 cancelled, 6 expired and 2 came back on the market. Currently there are 17 condos for sale in the area with a median list price of $499,000 and an average list price of $523,940.
Santa Barbara Real Estate Podcasts
For the Santa Barbara Real Estate area of Goleta Real Estate South for the first 2 months of 07 in the Single Family Home market 12 homes closed escrow with a median sold price of $845,000 and an average sold price of $999,750. For 08, 9 homes sold with a median sold price of $815,000 and an average sales price of $1,117,111. For 07 30 homes came on the market with a median asking price of $899,000 and an average asking price of $1,007,716. For 08 26new homes came on the market with a median list price of $800,000 and an average list price of $1,079,149. Also for 07 18 properties went into escrow, 1 was withdrawn from the market, 4 listings cancelled, 9 expired and 6 came back on the market. For 08 14 homes went pending, 3 were withdrawn, 4 cancelled, 12 expired and 8 came back on the market. Currently there are 46 homes for sale in the area with a median list price of $875,000 and an average list price of $1,498,180.
For the Santa Barbara Real Estate area of Goleta Real Estate South for the first two months of 07 in the Condo market 11 condos closed escrow with a median sold price of $605,000 and an average sold price of $591,500. For 08, 7 condos sold with a median sales price of $590,000 and an average sales price of $577,285. For 07 22 condos came on the market with a median asking price of $529,000 and an average asking price of $536,565. For 08 24 condos came on the market with a median list price of $629,000 and an average list price of $589,750. Also for 07 12 properties went into escrow, 2 were withdrawn from the market, 5 listings cancelled, 10 expired and 3 came back on the market. For 08, 30 condos went pending, 5 were withdrawn, 5 cancelled, 24 expired and 12 came back on the market. Currently there are 34 condos for sale in the area with a median list price of $574,000 and an average list price of $577,382.
Santa Barbara Real Estate Podcasts
For the Santa Barbara Real Estate area of Hope Ranch Real Estate for the first 2 months of 07 in the Single Family Home market 2 homes closed escrow with a median sold price of $4,777,500 and an average sold price of $4,777,500. For 08, 4 homes closed escrow with a median sales price of $3,460,000 and an average sales price of $3,288,750. For 07 6 homes came on the market with a median asking price of $2,195,000 and an average asking price of $3,431,500. For 08, 8 new homes came on the market with a median list price of $2,595,000 and an average list price of $3,303,125. Also for 07 5 properties went into escrow, 1 was withdrawn from the market, 1 listing cancelled, 6 expired and 2 came back on the market. For 08, 5 properties went pending, 1 was withdrawn 0 cancelled, 2 expired and 0 came back on the market. Currently there are 11 homes for sale in the area with a median list price of $2,995,000 and an average list price of $6,140,727.
For the Santa Barbara Real Estate area of Hope Ranch Real Estate for the first two months of 07 in the Condo market there was no activity.
Santa Barbara Real Estate Podcasts
Analysis through the end of February 08 for the Santa Barbara Real Estate including Montecito Real Estate, Hope Ranch Real Estate, Goleta Real Estate, Carpinteria Real Estate and Summerland Real Estate
As February 08 ended there was a tremendous surge in activity for both the Home Estate/PUD and Condo market. Starting with Home Estates the month ended with 52 closed escrows up from the 42 we saw in January. There was an increase in the Median Sales Price to $1,335,500 for the month with the Average Sales Price Surged to $2,447,426. Even with this rise in the Median and Average numbers we saw that the sellers did have to come down significantly from their expected prices because the Sales Price to Original List Price Ratio dipped to 88.68%. This means if a property was listed for $1 million it closed escrow at $880,000. An 11% reduction in a List Price is not extraordinary particularly with higher priced properties, but this is a higher percentage than what we saw in 04 and 05.
Certainly some of the increase in sales is seasonal as we start to move into spring but the real surge for the month came with properties going pending. 79 dwellings entered escrow which when viewed against the backdrop of 52 sales means that there is a definite gathering momentum. The other number pointing to a surge in activity is a reduction in the Days on the Market. This figure is the time from when the property was listed until it went into escrow. For the 52 Homes that closed escrow it was 96 for the ones entering escrow it was 84. This means a seller had to wait about 2 weeks less to get an accepted offer for their home.
The 52 sales were spread evenly across the board with 20 properties closing below $1 million, 20 homes closing above $2 million and 12 from $1-$2. The highest priced sale was almost $13 million for a home high up in Montecito and the least expensive sale was below $600,000 out in Goleta North. While the Average Days on the Market is heading in the right direction down to an average 96 days for the month of February some sellers did have to wait a substantial amount of time to get an accepted offer. For instance a property listed from $550,000 to $599,999 had to wait 248 days, one listed from $1,200,000 to $1,299,999 waited 131 and one from $3,250,000 to $3,499,999 waited for 522 days.
Entering the market for the month of February were 140 Homes with a Median List Price of $1,395,000 and an average List Price of $2,317,276. The Median Number is very close to the Median Sales Price for the month but about $150,000 above the Median Sales Price for the first two months of the year. Hopefully this increase in the Median Sales Price will not blunt the rush of activity weve felt in February.
Looking at some of the other figures for the month we see that 22 homes got withdrawn from the market with a median list price of $2,395,000, 14 listings were cancelled with a median list price of $1,100,000 and 49 properties expired with a median list price of $1,375,000.
At the end of the month of February there were 510 Home Estate/PUDs on the market with a Median List Price of $1,575,000 and an average List Price of $3,062,109. This is an increase of about 15% year over year in the number of homes available.
Im very encouraged by the increase in activity. The high end is definitely leading the way just as it did in 07 but the sales are across a wide range which should mean the surge will continue. Interest rates are still low and should continue that way for the foreseeable future. If things continue the way theyve ended February we could still see a good year for the Home Estate market in Santa Barbara.
For the Condominium Market in Santa Barbara, February was a mixed month. There was some bad news and some very good news. Starting with the bad, the numbers of sales for February dipped to 13. This is down from 18 in January and only slightly ahead of Decembers 12. On the good side of the 13 sales was a rise in the Median Sales Price for the month to $675,000 which was coupled with a rise in the Average Sales Price to $823,153. Also on the good side, we saw a reduction in the Days on the Market to 86, and a rise in the Sales Price to Original List Price ratio to 92.43%. This means that condo sellers only gave back about 7% of what they thought they would receive.
The price range of those 13 sales while not quite as wide as that demonstrated by Home Estates still was extensive. There were 6 sales below $650,000 and 7 sales above with 2 properties selling in the $2,000,000-$2,249,000 range. The highest priced property for February was on the East Side close to downtown and the lowest priced condo at below $300,000 was in the Goleta South Area. The amazing part about the upper end condos that sold was that neither one of them was in the Montecito area. This means that since November there has been only 1 condo close in Montecito.
The really good news for the month was that 33 Condos entered escrow. These condos had a Median List Price of $600,000 and an Average List Price of $737,190. To amplify on that thought, we also saw a reduction in the number of Fall Throughs, or properties falling out of escrow. Hopefully this is a trend and not an anomaly.
Coming on the market for February were 51 Condos with a Median List Price of $629,000 and an Average List Price of almost $800,000. This approximately $630,000 Median List Price has been stable for the past several months. Perhaps the rise in the numbers of escrow means that condo buyers have come to think that prices have stabilized and that now is a good time to pick up what would be a bargain compared to a couple of years ago.
Looking at the rest of the numbers we see 3 properties withdrawn, 10 cancelled, 12 expired with only 3 coming back on the market. As of the end of February there were 181 Condos available from Carpinteria to Goleta with a Median List Price of $675,000 and an Average List Price of $908,637.
We should know in the next couple of weeks whether what we saw at the end of February was a real surge or just a temporary upward fluctuation in the market. My general feeling is that Santa Barbara will rebound quicker than the rest of the nation because it has always been somewhat insular. Looking at whats sold in the past few years we definitely see what could be termed bargains right now and with the still low interest rates I think this is a good time to buy.
For the Santa Barbara Real Estate area of West of State St for the first 2 months of 07 in the Single Family Home market 29 homes closed escrow with a median sold price of $985,000 and an average sold price of $1,152,293. For 08, 14 homes closed escrow with a median sales price of $875,000 and an average sold price of $1,155,571. In 07 49 homes came on the market with a median asking price of $1,150,000 and an average asking price of $1,301,386. In 08 61 new homes came on the market with a median list price of $999,000 and an average list price of $1,266,340. Also for 07 36 properties went into escrow, 7 were withdrawn from the market, 21 listings cancelled, 19 expired and 7 came back on the market. For 08 23 homes went pending, 4 were withdrawn, 10 were cancelled, 21 expired and 9 came back on the market. Currently there are 96 homes for sale in the area with a median list price of $1,150,000 and an average list price of $1,321,334.
For the Santa Barbara Real Estate area of West of State St for the first two months of 07 in the Condo market 9 condos closed escrow with a median sold price of $649,000 and an average sold price of $639,500. For 08, 7 condos closed escrow with a median sales price of $698,000 and an average sales price of $908,285. For 07 26 condos came on the market with a median asking price of $665,000 and an average asking price of $787,976.
For 08, 28 new condos have come on the market with a median list price of $629,000 and an average list price of $928,282. Also for 07 15 properties went into escrow, 3 were withdrawn from the market, 7 listings cancelled, 16 expired and 13 came back on the market. For 08, 9 condos went pending, 1 was withdrawn, 0 cancelled, 14 expired and 2 came back on the market. Currently there are 46 condos for sale in the area with a median list price of $699,000 and an average list price of $986,617.
Santa Barbara Real Estate Podcasts
For the Santa Barbara Real Estate area of East of State St for the first 2 months of 07 in the Single Family Home market 35 homes closed escrow with a median sold price of $965,000 and an average sold price of $1,139,121. For 08 17 Homes closed escrow with a Median Sales price of $1,250,000 and an Average Sales price of $1,482,411. For 07 74 homes came on the market with a median asking price of $1,295,000 and an average asking price of $1,696,139. For 08 68 new homes came on the market with a median list price of $1,299,000 and an average list price of $1,498, 369. Also for 07 47 properties went into escrow, 11 were withdrawn from the market, 9 listings cancelled, 24 expired and 12 came back on the market. For 08 25 properties went pending, 7 were withdrawn 12 cancelled, 40 expired and 17 came back on the market. Currently there are 125 homes for sale in the area with a median list price of $1,399,000 and an average list price of $1,813,401.
For the Santa Barbara Real Estate area of East of State St for the first two months of 07 in the Condo market 16 condos closed escrow with a median sold price of $749,000 and an average sold price of $725,781. In 08, 7 condos closed escrow with a median sales price of $699,000 and an average sales price of $883,857. For 07 30 condos came on the market with a median asking price of $829,000 and an average asking price of $996,940. For 08, 29 new condos came on the market with a median list price of $759,000 and an average list price of $943,781. Also for 07 19 properties went into escrow, 4 were withdrawn from the market, 6 listings cancelled, 7 expired and 9 came back on the market. For 08, 9 went pending, 6 were withdrawn, 3 cancelled, 12 expired and 2 came back on the market. Currently there are 45 condos for sale in the area with a median list price of $925,000 and an average list price of $1,105,483.
Santa Barbara Real Estate Podcasts
For the Santa Barbara Real Estate area of Montecito Real Estate for the first 2 months of 07 in the Single Family Home market 22 homes closed escrow with a median sold price of $2,881,250 and an average sold price of $3,969,045. In 08 20 homes closed escrow with a median sold price of $4,192,500 and an average sales price of $5,638,100. In 07 57 homes came on the market with a median asking price of $3,450,000 and an average asking price of $5,446,998. In 08 55 homes came on the market with a median listing price of $3,500,000 and ah average list price of $5,112,781. Also 07 32 properties went into escrow, 8 were withdrawn from the market, 12 listings cancelled, 27 expired and 18 came back on the market. For 08 25 homes went pending, 12 were withdrawn, 4 cancelled, 23 expired and 17 came back on the market. Currently there are 121 homes for sale in the area with a median list price of $3,650,000 and an average list price of $6,399,578.
For the Santa Barbara Real Estate area of Montecito Real Estate for the first two months of 07 in the Condo market 8 condos closed escrow with a median sold price of $1,500,000 and an average sold price of $1,729,375. For 07 only 1 condo closed escrow with a sales price of $1,750,000. For 07 11 condos came on the market with a median asking price of $1,369,000 and an average asking price of $1,505,727. For 08 5 new condos came on the market with a median list price of $1,998,000 and an average list price of $1,530,000. Also for 07 7 properties went into escrow, 2 were withdrawn from the market, 2 listings cancelled, 5 expired and 0 came back on the market. For 08 1 condo went pending, 0 were withdrawn, 2 cancelled, 4 expired and 0 came back on the market. Currently there are 14 condos for sale in the area with a median list price of $1,779,000 and an average list price of $1,936,282.
Santa Barbara Real Estate Podcasts
For the Santa Barbara Real Estate area of Carpinteria Real Estate/ Summerland Real Estate for the first 2 months of 07 in the Single Family Home market 9 homes closed escrow with a median sold price of $4,200,000 and an average sold price of $8,726,111. In 08 5 Homes sold with a Median Sales Price of $946,125 and an Average Sales Price of $2,166,205. In 07 19 homes came on the market with a median asking price of $1,375,000 and an average asking price of $3,246,100. In 08 there were 18 New Homes on the Market with a Median Sales Price of $950,000 and an Average Sales Price of $1,992,100. For 07 12 properties went into escrow, 4 were withdrawn from the market, 3 listings cancelled, 7 expired and 4 came back on the market. In 08 9 Homes have gone into escrow, 7 were withdrawn, 1 cancelled, 23 expired and 5 came back on the market. Currently there are 42 homes for sale in the area with a median list price of $1,350,000 and an average list price of $4,089,661..
For the Santa Barbara Real Estate area of Carpinteria Real Estate/ Summerland Real Estate for the first two months of 07 in the Condo market 3 condos closed escrow with a median sold price of $520,000 and an average sold price of $516,666. In 08, 3 condos closed escrow with a Median Sales Price of $420,000 and an Average Sales Price of $510,000. In 07 29 condos came on the market with a median asking price of $649,000 and an average asking price of $640,444. In 08 10 new condos came on the market with a Median List Price of $550,000 and an Average List price of $560,700. Also for 07 11 properties went into escrow, 2 were withdrawn from the market, 5 listings cancelled, 13 expired and 4 came back on the market. In 08 6 properties entered escrow, 1 was withdrawn, 6 cancelled, 8 expired and 8 came back on the market. Currently there are 34 condos for sale in the area with a median list price of $570,000 and an average list price of $618,327.
Santa Barbara Real Estate Podcasts
For Goleta Real Estate North in the Santa Barbara Real estate area for Home Estate/PUDs there were 12 properties close escrow in the last 30 days. The Median Sold price for those 12 was $792,000. Replacing those 12 that closed were 16 that entered escrow. The Median List price for those 16 was $735,000. 18 new homes entered the market place and the Median List price for those properties was $905,000. With those 18 houses the total current inventory is now 57. The Median List price for those 57 is $1,049,000.
For condominiums in the Goleta Real Estate North area of Santa Barbara Real estate there were 2 that closed escrow. The Median Sales price for the 2 was $514,500. To replace those 2 that closed 3 entered escrow. The Median List price for those 3 was $399,900. 6 new condo listings occurred in the last 30 days and those 6 have a Median List price of $510,000. With those 6 there are currently 16 condos for sale in the Goleta North area. The Median List price for the inventory is $499,999.
In the Santa Barbara Real Estate are of Goleta Real Estate South for the Home Estate/PUD market there were 5 properties that closed escrow. The Median Sold Price for those 5 homes was $815,000 and the ratio of the Sales Price to the Original List Price was 94.24%. 7 Homes entered escrow in the last 30 days and those 7 had a Median List price of $735,000. 10 New Homes came on the market and they had a Median List price of $769,000. Those 10 houses contributed to the current inventory of 46 homes with a Median List price of $899,000.
For Condominiums in the Goleta Real Estate South area of Santa Barbara Real Estate there were 5 that closed escrow in the last 30 days. Those 5 had Median Sales price of $615,000. Entering escrow there were 7 condos those 7 had a Median List price of $685,000. 10 New properties entered the Market Place with a Median List price of $629,000 and those 10 contributed to the total inventory of 35 condos currently on the market. Those 35 have a Median List price of $600,000.
For the Santa Barbara Real Estate area of Hope Ranch Real Estate for the last 30 days there was 1 home that closed escrow. That 1 home had a Sales price of $4,600,000. While 1 property closed escrow 2 entered escrow. Those 2 properties had a Median List price of $1,895,000. There were 6 new homes entering the market place for the 30 day period so currently the inventory shows us 13 properties with a $2,995,000 Median List price.
For the Santa Barbara Real Estate areas of Hope Ranch Real Estate for Condominiums there was no activity.