For the Santa Barbara Real Estate area of Hope Ranch Real Estate for the period of February 20th to March 20th ’09 there was 1 sale for $2.556 million compared to 3 the previous year which had a median sales price of $2,259,080. During the same time period 5 new Home Estate/PUD listings came on the market with a median list price of $2.975 million. Last year there were 2 new listings with a median list price of $2.15 million. So far this year 1 escrow has been opened in Hope Ranch with a list price of $2.975 million and last year there was just one with a list price of $1.895 million. Right now there are 24 Home Estate/PUDs available for purchase in Hope Ranch with a median list price of just $3.795 million and an average list price of $6.2 million. Those homes have average days on the market of 124.
For the Santa Barbara Real Estate areas of Hope Ranch Real Estate for Condominiums there was no activity.
For the Santa Barbara Real Estate area of West of State St for Home Estate/PUDs there were 9 sales from the period of February 20th to March 20th ’09. Those 9 had a median sales price of $725,000. Last year there were 12 sales with a median sales price of $814,250. Coming on the market this year there have been 23 new Home Estate/PUD listings with a median list price of $975,000 and last year there were 23 new listings with a median list price of $1,099,000. So far this year 11 properties have entered escrow with a median list price of $589,800 and last year there were 14 escrows opened with a median list price of $1,025,000. Currently there are 87 Home Estate/PUDs available for purchase on the Santa Barbara West Side with a median list price of $990,000 and 140 days on the market.
For the condo market the sales figures show us 3 sales for the period with a median sales price of $560,000. Last year there were also 3 sales with a median sales price of $575,000. During the time period 11 new condos came on the market with a median list price of $599,000 and last year 9 condos came on with a median list price of $559,000. This year 3 escrows have been opened with a median list price of $499,000 but last year there were 4 that went into escrow with a median list price of $525,000. Currently there are 57 condos available on the West Side of Santa Barbara Real Estate Real with a median list price of $599,000 and 151 days on the market.
For Santa Barbara Real Estate East of State St for Home Estate/PUDs there were 11 sales from February 20th to March 20th ’09 with a median sales price of $820,000. During the previous year there were also 12 sales with a median sales price of $881,500. This year 34 new listings appeared on the market with a median list price of just under $1.199 million and last year there were 40 new listings with a median list price of $1.449 million. There were more pending properties last year ringing up 19 as opposed to this year when there were 15. But last year the 19 properties had a median list price of $1.2 million and this year the median list price is $799,000. Currently active on the East Side of Santa Barbara are 132 Home Estate/PUDs with a median list price of $1.475 million.
For the Condo Market on the East of State side of town for Santa Barbara Real Estate this year there have been 4 sales for the period we’re talking about with a median sales price of $556,000 and last year there were 5 sales with a median sales price of $562,000. During the same time period 16 new condos came on the market this year with a median list price of $605,000 and last year there were 12 new listings with a median list price of $530,000. This year the pending properties are exactly the same as last year when standing at 4. But the median list price is very different. This year the median list price for pending condos is $459,000 and last year it was $969,000. Right now there are 48 condos available on the East Side of Santa Barbara with a median list price of $699,000.
Santa Barbara Real Estate’s area of Montecito Real Estate for the Home Estate/PUD market there were 10 sales for the period of February 20th to March 20th ’09 with a median sales price of $2.5 million. For the previous year there were 14 sales but the median sales price was a $2.695 million. During that same time period there were 36 new listings that came on the market with a median list price of $3.319 and last year for the same period there were 36 new listings with a median list price of $2.595 million. This year we’ve seen 9 properties go into escrow with a median list price of $3.495 million and last year there were 13 escrows opened with a median list price just under $3.1 million. Currently there are 192 Home Estate/PUDs on the market in Montecito with a medina list price of $3.895 million and average list price of $6.5 million and days on the market of 134.
For the Condo market in Montecito Real Estate there were no sales for the period and nothin’ went into escrow. The previous year there was 1 sale for $1.75 million and 2 escrows opened with a median list price of $799,500. This year 9 properties came on the market with a median list price of $1.495 million and last year there 5 new listings with a $1.399 million median list price. Right now there are 25 condos available in Montecito with a median list price of $1.75 million and days on the market of 100.
For the Santa Barbara Real Estate an area of Carpinteria Real Estate/Summerland Real Estate for Home Estates and PUDs for the 30 day period from February 20th to March 20th ’09 there was 1 sale for $6.35 million but it took 265 days to get an accepted offer on that property. That compares to the same period last year when there were 4 sales with a median sales price of $1.78 million. The pending numbers for that same period are identical showing up with 8 in both years but the median list price for those 8 was $889,000 in ’08 compared to $799,000 for ’09. On the other side of the coin 15 new properties came on this year with a median list price of $950,000 compared to last year when there were 10 new listings with a median list price of $875,000. Currently there are 79 Home Estate/PUDs available in Carpinteria/Summerland with a median list price of $1.495 million and an average list price of $4.23 million.
For Carpinteria Real Estate/Summerland Real Estate area for the condo market for the same period only 2 properties sold with a median sales price of $648,500 whereas in ’08 there were 3 sales with a median sales price of $650,000. The good news is this year 7 properties went pending with a median list price of $449,000 compared to ’08 when there were just 2 with a median list price of $299,900. There was just about exactly the same number of new properties that came on the market. 9 this year with a median list price of $489,000 compared to ’08 when there were 10 new with a $499,000 median list price. Currently there are 34 condos available with a median list price of $550,000 and an average list price of $861,532.
The Condo market for the Goleta Real Estate North area of Santa Barbara the inventory is up by 2 properties with the numbers of new listings also up by 2. The numbers of condos going into escrow has taken a big surge and is currently by 8 from last year but the numbers of sales is down by half. The average sales price however is off by 23%.
For Home Estates in the Santa Barbara Real Estate area of Goleta Real Estate North the numbers of listings are down by 30% with the numbers of new listings also down by 30%. With the numbers of available properties falling back the numbers of homes that went into escrow is only down by 2 with the numbers of sales down by 8. The average sales price however has fallen by 33%.
The PUD market for the Santa Barbara Real Estate area of Goleta Real Estate North the overall inventory is up by 1 from last year but the numbers of new listings is the same for both years standing at 2. The PUDs in escrow is 3 ahead of last year but the numbers of sold PUDs is down by 1. The average sales price has dipped a bunch is down by 53%.
The Condo market for the Goleta Real Estate South area of Santa Barbara the numbers of properties available is down by 43% for ’09 with the numbers of new listings down by 40%. The numbers of properties entering escrow has fallen even further and is down by 52% with the sales falling by 66%. But the average sales price has fallen only 10% for the year.
For Home Estates in the Santa Barbara Real Estate area of Goleta Real Estate South the inventory is down by 16% with the numbers of new listings falling by 20%. But escrows have only fallen by 2 with sales at exactly the same place they were last year. Even so the average sales price is down by 28% to $828,000.
The PUD market for the Santa Barbara Real Estate area of Goleta Real Estate South has the inventory doubled to 6 properties with the numbers of new PUDs up by 4 from 0 last year. With that entire added inventory the numbers of escrows is up by only 1 with the numbers of sales standing at 1 for each year. And amazingly the average sales price went from $615,000 last year to $1,000,000.
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 Montecito Real Estate
Hope Ranch Real Estate the inventory has gone up by 65% with the numbers of new listings up 40%. But with that entire inventory the numbers of properties that have gone into escrow is down by 1 with the numbers of sales down by 4. The average sales price has slid lightly from about $2.9 million last year to about $2.36 million 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 the total inventory for ’09 is up by 7 properties while the numbers of new listings has fallen by 12. With the inventory up the escrows are down by 2 with the sales down by 5. That brings us to the average sales price which has dipped by 30%.
For Home Estates in the Santa Barbara Real Estate area of West of State the total homes available is down by 8% with the numbers of new listings declining by 24%. But despite the inventory being down the numbers of escrows is only down by 1 while the numbers of sold properties is up by 2. The average sales price has taken a slight dip however and is off by 5%.
The PUD market for the Santa Barbara Real Estatearea of West of State St there 3 listings last year compared to 0 this year and 1 new listings last year compared to 0 this year. There were 2 escrows last year with 0 this year but there no sales in either year.
For Condos in the Santa Barbara Real Estate area of East of State the total numbers of properties for sale this year is down by 1 while the numbers of new listings is also down by 1. On the flip side the numbers of escrow is up by 1 but the numbers of sales has fallen by 4. The average sales price has also dipped and is down by 25%.
The Home Estate market for the East of State St area of Santa Barbara Real Estate the total numbers of listings is down by 14% with the numbers of new listings falling off the pace by about 20%. This decline in inventory has led to an 11% drop in the numbers of homes going into escrow and a 23% drop in the numbers of closed escrows. The average sales price has also fallen and is down by 20%.
There’s not a whole lot of activity in the PUD market on the East Side of Santa Barbara Real Estate but last year there 7 active properties compared to 3 this year. But numbers of new properties is exactly the same at 2. There was 1 PUD that went into escrow last year compared to 0 this year but both years saw no sales.
In the Montecito Real Estate area of Santa Barbara Real Estate for the Condo Market the total numbers of properties available for the year is up by 2 as are the new listings. The under contact numbers for both years stands at 1 with 2 sales showing up last year at this time compared to 0 for this year.
In the Single Family Home market for the Santa Barbara Real Estate area of Montecito Real Estate the total number of listings is up by 28% compared to last year with the numbers of new listings up by 11%. The numbers of listings under contract is coming back somewhat but it is still down by about 27%. The numbers of sold properties is also coming up comparatively but it is still down by about 43%. Mirroring the decline in sold properties is the decline in the average list price also down by 43% to about $2.8 million.
For the PUD market in Montecito Real Estate there have been just 2 listings this year and 2 for the previous year. But at this time last year 2 new listings had come on compared to 1 this year. The numbers of PUDs under contact is 1 this year compared to 0 last year but the numbers of sales for both years stands at 0.
For the Santa Barbara area of Carpinteria Real Estate/ Summerland Real Estate for the condo market through March 13 the inventory is up by 1 over last year at this time while new listings are up by 8. The numbers of sold listings is currently ahead by 1 but the average sales price has declined by about 20%.
For Home Estates in Carpinteria Real Estate/ Summerland Real Estate the total numbers of listings through March 14 is up by 28% over last year’s numbers with the new listings surging by 20%. But with the inventory up the numbers of properties that entered escrow is exactly where it was last year and the numbers of sold homes is down by 6 with the average sales price sliding by 62%.
For PUDs in the Carpinteria Real Estate/ Summerland Real Estate there’s not much goin’ on. Last year there were 2 listings at this time and all the other numbers are 0. There was also 1 under contact last year but none this year. There has been 1 sale for $591,000 compared to none last year.
For Goleta Real Estate North area of Santa Barbara Real Estate for the Home Estate/PUD market there are currently 50 properties on the market with an average list price of about $2.7 million. The most expensive property in the area can be had for just $23.5 million while on the other end of the scale there’s a listing for just under $300,000. You mush all that together and you get a median list price for Goleta North of $1.125 million.
Right now there are 15 Home Estate/PUDs in escrow for Goleta North with an average list price of about $950,000. On the upper end of the scale there’s a home in escrow for just under $3 million while at the bottom of the list there’s one for $447,900. You swirl all that around and you come up with a median list price for homes in escrow for $749,000.
For the time period we’re talking about 27 homes closed escrow with an average sales price of just under $700,000. On the tippy top a property closed escrow for $1.22 million while at the other end of the scale one slipped out the door for $180,000. Even so the median sales price for Goleta North this year has been $686,000.
For the condo market in Goleta Real Estate North there are just 19 properties available right now for an average list price of $533,936. Topping the active list is a condo for $1.139 million while at the lower end of the scale one is listed for $375,000. The median however is a lot closer then bottom than the top and resides currently at $475,000.
Right now only 10 condos are in escrow in Goleta South with an average list price of $347,860. The highest priced condo in escrow tops the charts at $695,000 while the bottom of the list shows us one at $112,700. When you look to the middle the median list price for a condo in escrow is $322,000.
For Goleta North for the period we’re speaking of there was only 3 sales with an average price of $375,433. The highest priced sale closed escrow at $537,500 while the least expensive property left the gates at $128,800. Even so the median sales price for all of ’09 so far is $460,000.
In the Goleta Real Estate South area there are 42 Home Estate/PUDs available with an average list price $1.36 million. The highest priced listing in the area can be had for $3.3 million while the least expensive home is on the market for $549,000. All of that gives us a median list price of about $1.3 million.
Currently there are 11 properties in escrow for Goleta South with an average list price of $865,809. The highest priced listing now in escrow is on the market for $2.3 million and the least expensive property is listed at under $500,000. The median list price for Homes in escrow is $615,000.
For the period we’re talking about 12 homes closed escrow with an average sales price of just over $850,000. The most expensive home in the area went out at $1.7 million while the least expensive property closed at $280,000. The median price for Goleta South is $680,000 so far this year.
For condos on the South Side of Goleta Real Estate we currently have 24 units available with an average list price of just over $500,000. The highest priced listing is on the market for $775,000 with the least expensive home showing up at under $200,000. This gives us a median list price of $539,000.
There are 7 condos in escrow currently with an average list price of $384,157. The highest priced condo in escrow is listed for just under $600,000 with the least expensive property listed at $239,000. The median list price for a condo in escrow is $349,900.
For the Goleta South area for the period we’re talking about 4 condos closed escrow with an average sales price of $542,125. The most expensive condo that has closed escrow this year went out at about $940,000 and the least expensive home closed for $325,000. The median sales price has been just $375,000.
For Hope Ranch Real Estate for Home Estate/PUDs there are currently 22 properties available with an average list price of about $6.6 million and a median list price of $3.85 million. The most expensive property currently available in the ranch is listed for almost $29 million while the least expensive property can be had for $859,000. The average marketing time for those 23 listings is 162 days.
Right now there is nothing in escrow for Hope Ranch. That’s right, zip, nada, nothin’.
For the time period we’re talking about only 2 home closed escrow in the area with the highest priced property closing for $2.55 and the least expensive home going out for $2.175 million. That gives us a median sales price of $2.175 million.
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 of Santa Barbara Real Estate the inventory currently stands at 87 Home Estate/PUDs with an average list price of about $1.25 million and a median list price of just under $1 million. The most expensive property on the West Side is listed for $2.9 million while the lowest priced listing can be had for $439,800. The average marketing time for those 87 Home Estate/PUDs is 133 days.
Right now there are 20 Home Estate/PUDs in escrow on the West Side of Santa Barbara with an average list price of about $875,000. The highest priced property in escrow is listed for about $2 million. The least expensive condo is escrow is listed for about $325,000 with a median list price of about $750,000.
For the period we’re talking about 20 homes closed escrow with an average sales price of about $1 million and a median sales price of $860,000. The highest priced home that closed escrow sold for $2.125 million while the least expensive home had a selling price of $230,000. The average marketing time for those 20 properties was 92 days.
For the Condo market on the West Side of Santa Barbara Real Estate there are 52 units currently available with an average list price of about $880,000. The highest priced listing is on the market for about $2.6 million with the least expensive property on the market for $315,000 with a median list price of about $600,000.
There are currently only 6 condos in escrow on the West Side with a top price of $1.12 million and a bottom price of $219,000. This gives us a median list price for the 6 condos of $414,800 and an average list price of about $560,000.
For the period we’re talking about 6 condos closed escrow with an average sales price of $567,333 and a median list price of $520,000. The highest priced condo closed for $900,000 with the least expensive property going out for $427,000.
For the East of State St area of Santa Barbara Real Estate the inventory shows us 126 Home Estate/PUDs available for purchase with an average list price of about $1.9 million. The most expensive property available can be had for about $12 million with the least expensive property on the market for $427,900. The median list price for the East Side is about $1.4 million.
There are 17 Home Estate/PUDs in escrow right now for the East Side with an average list price of about $1.3 million. The highest priced home in the area is listed for $3.4 million with the least expensive property on the market for just under $500,000. The median list price for homes in escrow is $1,050,000.
For the period we’re talking about 20 Home Estate/PUDs have closed escrow on the East with an average sales price of about just over $1 million. The highest priced closing was about $2.4 million with the least expensive home going out for just $312,000. The median sales price on the East Side is currently $920,000.
The condo market for the East Side of Santa Barbara Real Estate has 49 properties for sale with an average list price of about $1.1 million. The highest priced condo can snapped up for a cool $15 million while the least expensive property is a mere $379,900. The median list price is $725,500.
Right now there are only 5 condos in escrow with an average list price of about $600,000. The highest priced home in escrow is listed for about $1 million while the least expensive condo in escrow is listed for $424,900. The median list price is $539,000.
For the period we’re talking about only 5 properties closed escrow with an average sales price of about $660,000. The highest priced condo slid out the door for about $950,000 with the least expensive home leaving for $418,000. The median sales price was $625,000.
For Santa Barbara Real Estate in the Montecito Real Estate area currently 178 Home Estate/PUDs are on the market with an average list price of about of about $7 million. The highest priced listing in the area is $47 million with the least expensive home on the market for just $885,000. The median list price for Montecito is currently about $4 million.
Currently there are only 15 properties in escrow in Montecito which an average list price of about $2.3 million. The highest priced listing in escrow is on the market for about $6 million with the least expensive home in escrow about $1.1 million. The median list price for homes in escrow in Montecito is about $1.5 million.
For the period we’re talking about 14 Home Estate/PUDs closed escrow in Montecito with an average sales price of about $2.8 million. The highest priced listing that’s closed escrow so far this year went out at about $6 million with the least expensive home closing for $865,000. The median sales price is $2.9 million.
For the Condo market in Montecito Real Estate there are currently 21 properties available with an average list price of just under $2 million. The highest priced condo available is on the market for about $3.5 million while the least expensive property can be snapped up for just $725,000. The median however is right about $2 million.
Currently there’s 1 in escrow in for Montecito Condo with a list price of just $729,000.
But for the period we’re talking about nothing closed escrow. It’s definitely been a quiet time for Montecito condos.
For Santa Barbara Real Estate in Carpinteria Real Estate/Summerland Real Estate there are currently 79 Home Estate/PUDs available for purchase. The highest priced listing is just under $30 million with the least expensive home offered at just under $500,000. The median list price for the area is about $1.5 million.
For Carpinteria/Summerland there are only 8 homes currently in escrow with a highest priced listing going for about $2.5 million. The least expensive home in escrow is just under $500,000 and the median list price is $629,000.
For the period we’re talking about there have been 4 sales with the highest priced property going out at $600,000 and the least expensive home being sold for $500,000. This all gives us a median sales price of $585,000.
For the condo market in Carpinteria Real Estate/Summerland Real Estate there are 34 properties available currently with the highest priced listing topping the charts at just under $6 million. On the other end of the scale there is a condo for $234,900 and the median list price is $545,000.
There are currently 5 condos in escrow with the highest priced dwelling listed for just under $500,000. The least expensive property is listed for $250,000 and the median list price is $449,000.
For the period we’re talking about 6 properties have closed escrow with a median sales price of $340,000 and the highest priced condo going out at $650,000. The least expensive property went out at $240,000.
For the Santa Barbara Real Estate area of Goleta Real Estate North for the first 2 months of ’09 the Home Estate/PUD sales are up from 21 last year to 25 this year. But the median sales price has fallen from $810,000 last year to $686,000 this year. This numbers of pended listings is also up slightly from 24 last year with a median list price of $849,000 to 27 this year with a median list price of $779,000. The new listings are down however from 45 in ’08 with a median list price of $899,000 to 35 this year with a median list price of $849,000. Currently there are 48 Home Estate/PUDs available in Goleta North with a median list price of $1.125 million.
For the Santa Barbara Real Estate area of Goleta Real Estate North for the first two months of ’09 for the condo market there has been 1 sale with a price of $460,000. This compares to ’08 when there were 5 sales with a median sales price of $470,000. The pended listings are way up however from 5 in ’08 with a median list price of $519,500 compared to ’09 when there have been 12 escrows open with a median list price of $324,900. The new properties are way up however from 12 in ’08 with a median list price of $519,500 compared to this year when 19 new listings have entered the market place with a median list price of $449,000. Currently there are 18 condos available in Goleta North with a median list price of $449,000.
For the Santa Barbara Real Estate area of Goleta Real Estate South for the first 2 months of ’09 we’re 1 sale behind where we were last year at this time but the median sales price has fallen from $815,000 in ’08 to $787,350 in ’09. The numbers of pending listings however is up from ’08 when it was 16 with a median list price of just under $800,000 to 20 in ’09 with a median list price of $669,000. The numbers of new listings is exactly where it was last year with 29 but the median list price has fallen from $839,000 in ’08 to $799,000 for ’09. Currently there are 39 Home Estate/PUDs available in Goleta south with a median list price of $1,375,000.
For the Santa Barbara Real Estate area of Goleta Real Estate South for the first two months of ’09 the condo market has fallen way behind of the ’08 pace. In ’09 we’ve seen only 3 sales with a median sales price of $375,000 compared to ’08 when there were 9 sales with a median sales price of $590,000. The pending listings are down by half from 16 in ’08 to 8 in ’09 with the median list price falling from $629,000 last year to $322,500 this year. The new listings are also down from 25 last year with a median list price of $566,000 to 15 this year with a median list price of $449,000. Currently there are 21 condos available in Goleta South with a median list price of $539,000.
For the Santa Barbara Real Estate area of Hope Ranch Real Estate for the first 2 months of ’09 for the Single Family Residence market there have been 2 sales with a median sold price of $2,365,500 compared to last year when there were 4 sales with a median sales price of $3.46 million. There have also been half the numbers of escrows opened this year compared to last but interestingly enough at least at this point the median list price for those escrows is up from $1.895 million last year to $2.55 million this year. There have been more properties come on the market however with 9 this year with a median list price of $3.85 million compared to 7 last year with a median list price of $2.595 million. Currently there are 21 Homes available for purchase in Hope Ranch with a median list price of $4.85 million.
For the Santa Barbara Real Estate area of Hope Ranch Real Estate for the first two months of ’09 in the Condo market there was no activity.
For the Santa Barbara Real Estatearea of West of State St for the Home Estate/PUD market for the first 2 months of ’09 sales have been great. 18 sales have been posted with a median sales price of $946,000. Last year at this time only 7 sales had been completed with a median sales price of just under $700,000. The pended properties have also shot up from 8 in ’08 to 26 in ’09 with a median list price for ’08 of $525,000 compared to ’09 when it has been just under $800,000. New properties are also up from 30 in ’08 to 40 in ’09 with the median list price also rising from $599,000 to $950,000 in ’09. Currently there are 86 Home Estate/PUDs available for purchase on the West Side with a median list price of $990,000.
For the Santa Barbara Real Estateof West of State St for the first two months of ’09 in the condo market the news is not nearly as good. 5 sales have been completed ’09 with a median sales price of $525,000 compared to last year when there were 7 sales with a median sales price of $698,000. Things are kind of easing closer together however with 8 condos going pending in ’08 compared to 7 in ’09. The median list price for those condos is also closer together with $525,000 posted in ’08 compared to $521,000 in ’09. Currently there are 52 condos available on the West Side of Santa Barbara with a median list price of $789,000.
For the Santa Barbara Real Estate area of East of State St for the first 2 months of ’09 the numbers of sales is almost exactly where it was last year but the median sales price has fallen from $1,222,500 last year to $920,000. Unfortunately this dramatic drop hasn’t yet spurred a huge spurt in activity. The numbers of pended listings are ahead of last year however with 24 going into escrow but the median list price for those 24 is $1,050,000 compared to last year when 22 escrows were opened with a median list price of $1.25 million. The numbers of new listings is slightly ahead of where it was last year with 76 properties coming on the market with a median list price of $1.4 million compared to ’08 when there were 22 new listings with a median list price of $1.25 million. Currently there were 128 Home Estate/PUDs available for purchase on the East Side of Santa Barbara with a median list price of $1.425 million.
For Santa Barbara Real Estate area of East of State St for the first two months of ’09 in the condo market there have been 5 sales with a median sales price of $625,000. This compares to last year when there were 7 sales with a median sales price of just under $700,000. The numbers of escrows opened is also 2 behind from last year but the median list price for those 2 fewer escrows about $100,000 below where it was last year. The new listings however are 2 ahead of where they were last year with a median list price of $725,500 compared to ’08 when it was just under $700,000. Currently there are 48 condos available on the East Side of Santa Barbara with a median list price of $749,000.
For the Santa Barbara Real Estate area of Montecito Real Estatefor the first 2 months of ’09 there have been 12 sales compared to 23 last year. The median sales price has also fallen dramatically this year down to just under $3 million from the ’08 number of $4.2 million. We may be seeing a resurgence in the numbers of sales however because the pended listings are rising and currently stand at 21 compared to last year when they were 26. The median list price for those 21 pended listings for ’09 is about $700,000 below the number posted for last year. What is up in Montecito is the numbers of listings. This year there have been 72 new properties that came on the market with a median list price of $3.5 million compared to last year when there were 58 new listings with a media list price of about $3.3 million. Currently there are 173 listings available for purchase in Montecito with a median list price of about $4.2 million.
For the Santa Barbara Real Estate area of Montecito Real Estate for the first two months of ’09 not much has gone on. No sales have been rung up and only 1 property went in to escrow with a list price of $729,000. But last year there was only 1 sale with a price of $1.75 million and 1 pended listing with a price of $2.45 million. The new listings are way up however with 8 coming on this year with a media list price of $2.1 million compared to ’08 when there were 5 new properties with a median list price of just under $2 million. Currently there are 18 Condos available in Montecito with a median list price of just under $2 million.
For the Santa Barbara Real Estate area of Carpinteria Real Estate/Summerland Real Estate for the first 2 months of ’09 for the Home Estate/PUD market there have been 3 sales with a median sales price of $585,000 compared to last year when there were 5 sales with a median sales price of about $950,000. The trend looks like it’s going to continue because so far this year there has been 6 properties go into escrow with a median list price of $580,000 compared to ’08 when there were 9 pended listings with a median list price of $900,000. What is up in Carpinteria/Summerland is the numbers of new listings. This year 28 properties have come on the market with a median list price of $1.2 million compared to last year when there were 21 with a median list price of just under $1 million. Currently there are 81 Home Estate/PUDs available in the area with a median list price of just under $1.5 million.
For the Santa Barbara Real Estate area of Carpinteria Real Estate/Summerland Real Estate for the first two months of ’09 in the condo market has give us 5 sales compared to 4 last year but this year the median sales price is $340,000 compared to last year’s $472,500 mark. The pended properties are also 1 ahead of last year’s market but this year the median list price is $264,900 compared to last year when it was $549,000. Just like Home Estate/PUDs the numbers of new listings is way up with 17 being posted with a median list price of $590,000 compared to last year when there were 11 new listings with a median list price of $559,000. Currently there are 36 condos available in the Carpinteria/Summerland area with a median list price of $590,000.
For the month of February ’09 the increase in properties that went into escrow in January didn’t result in a significant rise in the numbers of closed Home Estate/PUD properties in the Santa Barbara Real Estate, Montecito Real Estate, Hope Ranch Real Estate, Carpinteria Real Estate/Summerland Real Estate and Goleta Real Estate areas. The numbers of closed properties was above the
January ’09 level but below the February ’08 level. Whether those properties that went into escrow in January fell through or are still in escrow remains to be seen. What did change for the month was the median sales price which dipped into the low to mid $700,000 range. This means that the majority of the activity was still coming from Goleta with some help from Carpinteria.
There was again in February a surge of properties going into escrow and the good news is that the median list price for those homes that did start the buying process was right around the million dollar level, significantly higher than it’s been up until now. This also tells us that areas other than Goleta and Carpinteria/Summerland are seeing a rise in activity.
The Sales Price to Original List Price ratio came up a bit for February but still remained in the 80s meaning that buyers are demanding and getting significant reductions in what the sellers would like to receive. Also there is about a 10% decline in the time it takes to get an accepted offer for a property but it is still taking roughly 3 months to get a home into escrow.
Looking at the districts, Carpinteria/Summerland has seen the numbers of sales drop with the median sales price dropping by about half. It looks like it will continue at this level for a while because the numbers of pending properties is also down as is the median list price for those homes.
Montecito has also had a decrease of about half the numbers of sales compared to ’08 and the median sales price has dropped by about $1 million. There are some encouraging numbers in the pending category however but the median list price for those homes is still substantially below the ’08 level.
For East of State St the sales are almost exactly where they were last year but the median sales price has declined significantly. The good news is that the pending listings this year are ahead of last year’s pace but the median list price for those properties is significantly below last year’s level.
Our shining star this year is the West Side where sales are almost triple last year’s pace and the median sales price is up over 30%. The pending properties are also way up for the area so it looks like the trend will continue there.
Hope Ranch continues to struggle posting half as many sales compared to this time last year and a decline of over $1 million in the median sales price. The pending listings are also about half of what they were in ’08 but at least the median list price for those homes is above last year’s level.
Goleta South is slightly ahead of the level that we saw last year but the median sales price slid down. It looks like the area will really start to surge however because the pending listings are ahead of the ’08 pace but the median list price for those properties has moved down into the mid $600,000 level.
Goleta North is the other bright star in our galaxy. Sales are ahead of where they were last year but the median sales price for those properties is more than $100,000 below where it was in ’08. The pending numbers are also up for the area but just like with sales the median list price is below last year’s number by about $75,000.
For the condo market the numbers are still rather dismal. The numbers of sales is close to the single digit range for February with the median sales price hovering around $500,000. The properties going into escrow is somewhat encouraging however but they are still below the ’08 level and about $100,000 below the median list price for condos going into escrow last year.
The sales price to original list price ratio is in the 90th percentile which is almost exactly where it was last year. But, the days on the market has dropped by about 3 weeks. This means it’s taking about 2 months to get an accepted offer compared to last year when it took almost 3.
With the lack of sales the condo inventory continues to grow and currently has a median list price for the almost 200 available properties of about $625,000 and an average list price of just under $1 million. The average days on the market for the entire inventory are just over 4 months.
Looking at the districts we see that sales for Carpinteria/Summerland are actually ahead of where they were last year but the median sales price has dropped over $100,000. The pending numbers are also up for the area but the median list price for those pending properties is half of what it was last year.
For Montecito there have been no condo sales but last year there was only 1 for $1.75 million. There is one pending listing however but the list price for that property is $729,000 compared to last year when there was 1 pending listing with a list price of $2.45 million.
On the East Side of Santa Barbara the sales are down by a couple with the median sales price down by about $75,000. The pending listings are also down by a couple with the median list price down by about $100,000.
For the West Side unlike the Home Estate/PUD market the sales of condos are down by a one with the median sales price falling by about $175,000. The pending numbers are also down by only 1 however with the median list price off by just $4,000.
Goleta South has seen sales fall almost 3 fold with about a $150,000 drop in the median sales price. The pending numbers are also down by about half of the amount we saw in ’08. Unfortunately the median list price for those condos is also down by over $200,000.
Goleta North has had only 1 sale through February with a sales price of $460,000. This compares to last year when there were 5 with a median sales price of $470,000. The good news here is that the pended listings are more than double the numbers we saw in ’08 which means the activity should increase dramatically. But, the bad news is that the median list price for those properties is still down about $200,000.
Santa Barbara’s Home Estate/PUD market is showing signs of moving forward in February particularly on the West Side as well as both Goleta North and South. The rise in the median list price of properties going into escrow tells us that the $1 to $2 million segment of the market is re-establishing itself. The $2 million and up part of the market also made gains in the pending category for the month while the sub $1 million range remained about where it’s been.
The condo market is continuing to have problems with people who would have normally bought a condo now looking at single family dwellings which have come into their price range. The upper end condo market has been hit particularly hard with very little activity being registered above $800,000. Until the lower end Homes get moved out the condo market will continue to struggle.
Gary Woods
For Home Estate PUDs in the Goleta Real Estate North area of Santa Barbara Real Estate for the period of 1/1/09 to 2/19/09 there were 18 sales with a median sales price of $684,500. Last year for the same time period there were also 18 sales but the median sales price was $795,000. The average sales price is a lot wider apart however. Last year the average sales price was $921,111 and this year the average has fallen to just over $700,000. The average days on the market for Goleta North are 63 for this year with another 52 days added on for the escrow period. This adds up to 115 total days worth of marketing time.
For Condominiums on the North Side of Goleta Real Estate there has been only 1 sale for the period with a sales price of $460,000. This compares to last year when there were 3 sales with a median sales price of $470,000. The average sales price is tilted slightly more towards last year when it was just under $500,000. The only good news for Goleta North Condos is that the days on the market were 26 with 11 days tacked on for the escrow meaning that property moved out in just 37 days.
For Home Estate PUDs in the Goleta Real Estate South area of Santa Barbara Real Estate for ’09 there have been 8 sales with a median sales price of $787,350. This compares to ’08 when there were 8 sales with a median sales price of $800,000. The average sales price is tilted slightly towards last year when it was $983,000 compared to this year when it’s been $916,337. The average days on the market for ‘09 has been a rather zippy 74 days with a 32 day escrow period added on. This means the whole transaction from start to finish took just over 100 days.
For Condominiums for Goleta Real Estate South for the same time period there were 3 sales with a median sales price of $375,000. This compares to ’08 when there were also 3 sales but the median sales price was $290,000. The average sales price tilts farther towards ’09 however when it shows up at $546,500 compared to ’08 when it was $306,666. The average days on the market for this year are just 68 with a 35 day escrow period tacked on. So this adds up to 113 days worth of total marketing time.
For Hope Ranch Real Estate Home Estate/PUDs from 1/1/09 to 2/19/09 there has been just 1 sale with a sales price of $2.175 million. This compares to last year when there were 3 sales with a median sales price of $2.525 million. The average sales price stretches things out a little further with ’08 showing up at just under $3 million. The days on the market for Hope Ranch this year give us 107 with only a 7 day escrow period. So even though there hasn’t been much activity it took a relatively short time to close that escrow.
For Condominiums in Hope Ranch Real Estate there was no activity.
For West of State St in Santa Barbara Real Estate for Home Estate/PUDs for the period of 1/1/09 to 2/29/09 there have been 15 sales compared to only 11 last year. The median sales price is slightly behind however showing up at $912,000 compared to $935,000 for $912,000 this year. This average sales price is further apart however with ’08 posting a $1.25 million average compared to ’09 which shows us a $1,050,866 average sales price. The average says on the market is 114 for the West Side with another 37 added in for escrow time bringing us to 151 days of total marketing time.
For Condominiums on the West Side of Santa Barbara Real Estate for the same time period there have been 3 sales with a median sales price of $520,000. This compared to ’08 when there were 7 sales with a median sales price of just under $700,000. The average sales price is a lot farther apart however. In ’08 the average was about $910,000 compared to ’09 when it’s been $630,666. The average days on the market for the West Side have been 153 with another 44 thrown in for escrow time. This brings the total marketing period to about 200 days.