In the Montecito Real Estate area of Santa Barbara Real Estate for the Condo Market the total numbers of properties available through September 24 is down by 2 with the numbers of new listings up by 1. With the listings about equal the numbers of escrows is down by 53% with a total of 6 and the numbers of sales is down by 10 with a total of 4. As youd expect with this small amount of activity the total sold volume is down by 84% with the average sales price falling by 45%.
In the Single Family Home market for the Santa Barbara Real Estate area of Montecito Real Estate the total number of listings are up by 14% with the numbers of new listings up by just 4%. With the listings about equal the escrows are down by only 6% with a total of 117 but the numbers of sold properties is down by 18% with a total of 103. The overall sold volume is down by 33% but the average sales price has fallen 18% for the year.
For the PUD market in Montecito there have been just 4 listings this year which is 1 more than we had last year. There have been just 3 new listings for both years and only 1 escrow opened in both years with 1 sale for each year. The overall sold volume is down 53% with the average sales price also falling by 53%.
For the Santa Barbara area of Carpinteria Real Estate/Summerland Real Estate for the condo market through September 24 there have been 34% fewer listings and 39% fewer new listings compared to the same time period for 08. On the other side of the coin the numbers of escrows is up 40% with the numbers of sales up an amazing 50%. This rise in sales gives us a 55% increase in the sold volume but only a 3% increase in the average sales price which is still remarkable considering all of the rest of the areas have lower average prices.
For Home Estates in Carpinteria Real Estate/Summerland Real Estate the total numbers of listings through September 24 is up 17% with the numbers of new listings up 7%. But towering above that number is the number of escrows which is up 50% with the numbers of sales rising 13%. Interestingly enough with the sales up the sold volume is actually down 17% with the average sales price dropping 27%.
For PUDs in the Carpinteria/Summerland through September 24 the total active listings are up by 1 this year with the numbers of new listings exactly even at 8. The properties that went into escrow are up by 1 and the numbers of sales is up by 2. The overall sold volume is way up by 31% but the average sales price has fallen by 34%.
For Santa Barbara Real Goleta Real Estate North area for the Home Estate/PUD there have been 104 sales compared to 111 last year for a 6.3% drop. This drop is remarkable because the inventory for the area has fallen about 20%. The median sales price however has declined from $850,000 to $707,500 for a 17% drop.
The gap this year is rather large with a $1.279 million median list price compared to that $707,500 median sold price for a 45% bulge. Last year the gap was only 9% with a $935,000 median list price compared to a $850,000 median sold price.
For the condo market in Goleta Real EstateNorth the sales are up 22.2% with a total of 33. But the median sales price has fallen 28% down to $340,000. The gap this year stands just north of 25% with a $458,000 median list price compared to that $340,000 median sold price. Whereas last year the gap was about 6% with a $499,000 median list price compared to a $470,000 median sold price.
For Santa Barbara Real Goleta Real Estate South area for the Home Estate/PUD there have been 62 sales through September 15th 09 compared to the same time period last year when there were 60 for a modest 3.3% arise. The median sales price has declined only by 8.6% down to $700,000.
The gap for 09 is 33.3% with a $1.05 million median list price compared to a $700,000 median sold price. In 08 the gap was less than half residing at 15% with a $899,000 median list price compared to a $766,000 media sold price.
For the condo market in Goleta Real Estate South the sales are up 9% with a total of 51 but the median sales price is down 22.2% to $455,000. There is no gap this year because the median list price of $409,000 is 11.2% below the median sold price of $455,000. But this phenomenon occurred last year when the median list price was $555,000 and the median sold price was $585,000 for a +5.4% gap.
For Santa Barbara Real Estate Hope Ranch Real Estatearea for the Home Estate/PUD market there have been 11 sales compared to 14 last year for a 22% decline and the median sales price has dropped about 15% down to $2.175 million.
The gap this year is 18% with a $2.65 million median list price compared to that $2.175 million sold price. But in 08 it wasnt much different when we had a median list price just below $3 million and a median sold price of $2.45 million giving us a 15% gap.
For Santa Barbara Real Estates Hope Ranch Real Estate area for the period of Jan.1 through April 15 for Condos there was no activity.
For the Santa Barbara Real Estate area of West of State St area for the Home Estate/PUD market there have been 105 sales through September 15th compared to 101 last year at this time for a 4% rise. But to achieve those sales the median sales price went down 12.3% to $735,000.
Looking at the gap figures we see that for 09 the median list price $1.15 million which gives us a 36% difference when compared to that $735,000 median sold price. In 08 the gap was just 6% with a $1.01 million median list price compared to a $949,000 median sold price.
For the Santa Barbara Real Estate West Side condo market there have been 46 sales so far this year compared to 45 at this time last year for a 2.2% rise. But to get that rise in sales the median sales price came down 12.3% to the current level of $504,000
The gap for 09 between median sales price and median list price is 18% with a $615,000 median list price and a $504,000 median sold price. In 08 the gap was wider standing at 27% with a $785,000 median list price compared to a $575,000 median sold price.
For Santa Barbara Real Estate area East of State St area for the Home Estate/PUD market there have been 124 sales through September 15th which is 1 more than occurred at this time last year. But the median sales price has dropped 18% from the previous year down to $900,000 for the area.
The gap for 09 is about 32% with a median list price of $1.325 million compared to that almost $900,000 median sales price. Last year the gap was 27% with a median list price of $1.5 million compared to a median sold price of $1.1 million.
For condos on the East Side of Santa Barbara Real Estate there have 39 sales through September 09 compared to 35 for 08 for a 12% rise. But the median sales price slid from $649,000 last year to $520,000 this year for a 20% decline.
The gap for 09 is 31% with a $749,000 median list price vs. a $520,000 median sold price and in 08 the gap was just 7.2% with a $699,000 median list price compared to a $649,000 median sold price.
For Santa Barbara Real Montecito Real Estate area for the Home Estate/PUD market the sales figures for 09 show 26% behind the sales figures of 08 with 88 sales currently completed. The median sales price has fallen about 20% from 08 down the current $2.6 million number.
The gap which is the difference between the median sales price and the median list price is 30% for 09 with a $3.7 million median list price compared to a $2.6 million median sold price. In 08 that gap was just 3% with a $3.6 million median list price vs. a $3.5 million medium sold price.
For the condo market in Montecito Real Estate theres been just 4 sales for the year compared to 13 last year for a 70% decline and the median sales price has fallen just about 50% down to $697,000.
The gap between the median sales price and median list price is 58% with a median list price of $1.65 million compared to that median sold price of about $700,000. In 08 the gap was 22$ with a $1.75 million medium list compared to a $1.4 million medium sales price.
For Santa Barbara Reals Carpinteria Real Estate/Summerland Real Estate for the Home Estate/PUD market the median sales price through September 15 is down 21% from last year to $687,500 but the numbers of sales has jumped 21% to 47.
The difference between the median list prices for 09 of about $1.5 million compared to the $687,500 median sales price is a whopping 54% compared to last year when there was a $1.3 million median list price with an $870,000 median sales price for a 33% gap.
For the Carpinteria Real Estate/Summerland Real Estate condo market the numbers of sales is 67% ahead of where it was last year topping out at 35 but the median sales price is 15% down from the previous year standing at $400,000.
The gap between median list price and median sold price for 09 is 20% with a $499,000 median list vs. a $400,000 median sold price which compares to last year when the median list price was $639,000 compared to the median sold price of $469,000 which gave us a 27% gap.
For Goleta North area of Goleta Real Estatefor the Home Estate/PUD market there are currently 67 properties on the market with an average list price of about $2.2 million. The highest priced property on the market is listed for $23.5 million while the least expensive home is listed for just $150,000. With all that said the median list price for the area is about $1.1 million.
There are currently 22 properties in escrow with an average list price of about $810,000. The highest priced home currently in escrow is listed for about $1.56 million with the least expensive property on the market for just under $500,000. The median list price for homes in escrow is under $700,000.
So far this year 83 homes have closed escrow on the north side with an average sales price of about $825,000. On the top of the heap is a home that sold for $3.3 million while at the bottom of the pile is one that sold for $180,000. The median sales price for the area is $705,000.
For the condo market in Goleta Real Estate North there are just 13 properties available right now with an average list price of about $440,000. The most expensive condo in the area is on the market for $690,000 while the least expensive property is available for $118,300. Just about in the middle is the median list price of $433,000.
There are now 12 condos in escrow with an average list price of about $400,000. The highest priced condo in escrow is listed at $1.055 million with the least expensive home in escrow listed at $118,300. The median list price for the area is $349,000.
So far this year there have been 24 condos close escrow with an average sales price of just under $400,000. Topping the charts is a condo that sold for $740,000 while at the other end of the spectrum is one that sold for $128,800. The median sales price for the area is $380,100.
In the Goleta Real Estate South area there are 36 Home Estate/PUDs available with an average list price of $1.24 million and a median list price of $1,050,000. The most expensive home available for purchase in Goleta south is on the market for $2.525 million while the least expensive home is on the market for $545,000.
Right now there are 10 properties in escrow with an average list price of about $1,040,000 and a median list price of $689,000. The most expensive home in escrow is listed for about $2.2 million with the least expensive property listed at just under $500,000.
So far this year 62 homes have sold with an average sales price of about $890,000 and a median sales price of $700,000. The highest priced property this year sold for $2,810,000 with the least expensive property leaving the gate at $280,000
For condos on the South Side of Goleta Real Estate we currently have 9 units available with an average list price of about $475,000 and a median list price of $409,000. The most expensive condo in Goleta South is available for $699,000 and the least expensive listing is on the market for about $295,000.
There are 16 condos in escrow right now with an average list price of about $400,000 and a median list price of about $350,000. The most expensive condo in escrow right now is listed at $689,000 with the least expensive home in escrow listed at $180,000.
So far this year only 49 condos have sold with an average list price of about $440,000 and a median sold price of $450,000. The most expensive condo sold this year in Goleta South sold for $939,500 while the least expensive property sold for $129,000.
For Hope Ranch Real Estate for Home Estate/PUDs there are currently 22 properties available with an average list price of about $3.8 million and a median list price of $2.6 million. The highest priced listing is on the market for just under $10 million while the least expensive listing is available for $849,000.
Right now there are 4 pending properties with an average list price of about $7.3 million and a median list price of $5 million. The highest priced home in escrow is listed for about $16 million with the least expensive home in escrow is on the market for just under $2.9 million.
So far this year there have been 11 sales with an average sales price of about $2.8 million and median sales price of about $2.2 million. The highest priced sales went out at $8.2 million while the other end of the scale is a home that sold for $745,000.
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 83 Home Estate/PUDs with an average list price of about $1.325 million and a median list price of $1.235 million. The highest priced listing can be had for about $6 million and the least expensive is on the market for $399,900.
There are 28 homes in escrow on the West Side with an average list price of just over $800,000 and a median list price of $714,900. The highest priced home in escrow is on the market for just under $1.6 million with the least expensive home n escrow for just under $450,000.
There have been 102 sales on the West Side this year with an average sales price of just about $825,000 and median sales price of $735,000. At the top of the heap is a home that sold for $2.125 million and the least expensive property sold for the low, low price of $230,000.
For the Condo market on the West Side of Santa Barbara Real Estate there are 37 units currently available with an average list price of just over $900,000 and a median list price of $729,000. The most expensive home currently available on the West Side is listed for $2.8 million with the least expensive condo available for $325,000.
Right now there are 19 condos in escrow with an average list price of about $520,000 and a median list price of about $470,000. The highest priced condo in escrow is listed for about $960,000 and the least expensive condo is listed for just under $300,000
So far this year 46 condos have closed escrow with an average sales price of about $590,000. The median sales price has been $503,000 for the year with the highest priced condo leaving the gates at $1.4 million and the least expensive condo going out at just $275,000.
For the East of State St area of Santa Barbara Real Estatethe inventory shows us 156 Home Estate/PUDs available for purchase with an average list price of about $1.7 million and a median list price of about $1.3 million. The highest priced home on the East Side is on the market for just under $14 million with the least expensive property available for $519,000.
Right now there are 41 Home Estate/PUDs in escrow on the East side with an average list price of $1,041,251 and a median list price of about $799,000. The highest priced home currently in escrow is listed for just under $3 million and at the other end of the scale is one listed for $365,000.
So far this year 124 Home Estate/PUDs have been sold with an average sales price of about $1.3 million and a median sales price of just under $900,000. At the top of the heap is one that sold for $3.225 and at the bottom is a home that sold for $312,000.
The condo market for the East Side of Santa Barbara Real Estatehas 40 properties for sale with an average list price of around $850,000 and a median list price of $710,000. The highest listing is on the market for $2.8 million and the least expensive listing can be purchased for $325,000.
There are 17 condos in escrow right now with an average list price of about $690,000 and median list price of $450,000. The most expensive condo in escrow is listed for $2.4 million and at the bottom of the scale is one listed for $359,000.
So far this year 39 properties have closed escrow with an average sales price of $615,587and a median sales price of $520,000. The highest priced condo so far this year is one for $1.3 million and at the other end of the scale is one for about 1 million less or $365,000.
For Santa Barbara Real Estate in the Montecito Real Estate area there are currently 205 Home Estate/PUDs available with an average list price of about $6.2 million and a median list price of $3.8 million. At the top of the heap is a home listed for just under $30 million but you can still get a sub million dollar home in the area with one listing showing up at $985,000.
Right now there are 18 homes in escrow in Montecito with an average list price of about $2.8 million and a median list price of $2.2 million. The most expensive home in escrow is listed for $9.5 million but at the other end is one listed for $899,000.
Through September 12 there have been 86 Home Estate/PUDs complete the buying process and those 86 have an average sales price of about $3.6 million and a median sales price of $2.5 million. The largest sale this year was $25,279,165 and the least expensive home cost just $750,000.
For the Condo market in Montecito Real Estate there are currently 20 properties available with an average list price of about $1.67 million and a median list price of $1.549 million. One the top of the heap is a home in escrow with a list price of about $3.5 million and at the bottom of the scale is one listed for $655,000.
Right now there are no condos in escrow and a total of 4 have sold this year. The average sales price is $867,250 for those 4 and the median sales price is $679,000. The highest priced condo sale was $1.45 million and the least expensive property left the gate for $625,000.
For Santa Barbara Real Estate in Carpinteria Real Estate/Summerland Real Estate for the Home Estate/PUD market there are currently 75 properties available for purchase with the amazing average list price of about $4.5 million. At the top of the heap is a home listed for just under $30 million but the median list price is still a sizzling $1.5 million. The least expensive home in the area can be had for $529,000.
Currently there are 17 Home Estate/PUDs in escrow with an average list price of about $750,000 and a median list price of $624,000. At the top of the pile there is a home in escrow listed for just under $1.6 million and at the other end of the scale is a property listed for just $380,000.
There have been 48 sales so far this area in Carpinteria Real Estate/Summerland Real Estate with an average sales price of about $1.2 million and a median sales price of $687,500. The most expensive home thats left the gate went for $6.35 million with the least expensive home changing hands for just $310,000.
For the condo market in Carpinteria/Summerland 27 properties are available with an average list price of about $630,000 and a median list price of $515,000. The highest priced condo is listed for just about $1.9 million with the least expensive condo up for grabs at $245,000.
There are currently 13 condos in escrow in the area with an average list price of about $456,000 and a median list price of $425,000. Right at the top of the heap is a condo listed for $875,000 and at the other end of the scale is one listed for $242,000.
So far this year there have been 13 condo sales with an average sales price of about $450,000 and a median sales price of $425,000. The most expensive condo that changed hands this year went for $875,000 while the least expensive condo sold for $242,000.
For the Santa Barbara Real Estate area of Goleta Real Estate North for the first eight months of 09 the numbers of sales have dropped by 14 down to 95 with the median sales price falling by about $140,000 from $850,000 to $708,000. The average has fallen even further from just over $1 million last year to $822,153 this year. The sales price to original list price ratio is over 90% however meaning that things seem to stabilizing as far as price is concerned in Goleta North. The numbers of escrow is exactly where it was last year with 111 and the median list price has fallen about $130,000 from $859,000 to $729,000. Right now there are just 64 Home Estate/PUDs available for purchase in Goleta South with a median list price of $1.275 million and an average list price of about $2.5 million.
For the Santa Barbara Real Estate area of Goleta Real Estate North for the first eight months of 09 for condominiums is up by 7 with 31 closed transactions but the median sales price has fallen about $100,000 down to $370,000. The average sales price hasnt come down quite so far it fell from about $490,000 down to just under $400,000. The sales price to original list price ratio is hovering right about 90% again showing a mark of stability thats come into the market place. The numbers of pending properties is way up however from just 26 in 08 to 40 in 09 but the median list price of those properties has gone from $499,000 last year to $389,000 this year. Right now there are just 16 condos available for purchase in Goleta South with a median list price of $450,000 and an average list price of $475,368.
For the Santa Barbara Real Estate area of Goleta Real Estate South for the first 8 months of 09 there have been 54 sales which is 2 behind where we were last year at this time. The median sales price has slid only slightly from $766,000 to $737,500 and the average sales price is actually above last years mark by $15,000 to the current number of $933,954. The sales price to original list price ratio is right at 90% so things seem to have stabilized in Goleta South. The numbers of escrows is still ahead of 08 number which was 61 and is currently at 67 and the median list price for those properties went from $750,000 in 08 to $724,680 this year. Right now there are just 35 Home Estate/PUDs available for purchase in Goleta South with a median list price of $1.2 million and an average list price of $1.3 million.
For the Santa Barbara Real Estate area of Goleta Real Estate South for the first eight months of 09 the numbers of sales are ahead of 08 by 3 currently standing at 48 but the median sales price has fallen from $585,000 last year to $450,000 this year. The average sales price has also fallen about $100,000 down from $547,682 to $436,113. The sales price to original list price ratio is right about 90% meaning things have about stabilized in the Goleta South district. Right now there are just 9 condos available for purchase in the area with a median list price of $529,950 and an average list price of $542,872.
For the Santa Barbara Real Estate area of Hope Ranch Real Estate for the first eight months of 09 there have been 11sales compared to 13 in 08. The median sales price has dropped from $2.525 million down to $2.175 million with the average going from $3.64 million down to about $2.8 million. The sales price to original list price is right at 80% so the sellers had to settle for significantly less than theyd hoped for. The pending listings are actually ahead of last year by 1 with 13 showing up as the current number and the median list price is only down slightly from $2.75 million to $2.65 million. Right now there are 26 Home Estate/PUDs available for purchase in Hope Ranch with a median list price of about $3 million and an average list price of just over $4 million.
For the Santa Barbara Real Estate area of Hope Ranch Real Estate for the first seven months of 08 has seen no activity.
For the Santa Barbara Real Estate area West of State St for the first eight months of 09 for the Home Estate/PUD market the numbers of sales are up by 6 to the current number of 100 but the median sales price is down by $220,000 to the current number of $735,000. The sales price to original list price ratio is just below 90% so folks on the West Side are pricing their properties closer to the sales price but its still about 10% below what they would have liked to have gotten. The numbers of escrows opened this year is 9 ahead of where it was last year with 114 but the median list price for those escrows has fallen from $950,000 to $759,000. Right now there are 78 Home Estate/PUDs available for purchase with a median list price of $1.235 million and an average list price of $1.324 million.
For the Santa Barbara Real Estate area West of State St for the first eight months of 09 for the condo market sales are down by 4 to the current number of 39. The median sales price has also fallen from $583,500 to $505,000. The sales price to original list price ratio is in the mid 80s meaning that sellers settled for about 15% less than what they would have liked to have gotten. The numbers of escrows is 10 up from last years count standing at 55 currently with the median list price down from $559,000 last year to the current number of $515,000. Right now there are only 37 condos available for purchase on the West Side of Santa Barbara with a median list price of $729,000 and an average list price of about $908,000.
For the Santa Barbara Real Estate areas from Goleta Real Estate to Carpinteria Real Estate/Summerland Real Estate as well as Montecito Real Estate and Hope Ranch Real Estatefor the Home Estate/PUD market in August 09 after 2 months in a row of 80+ sales the total numbers of sales dipped into the high 60s. The median sales price remained in the low to mid $800,000 range but the sales price to original list price ratio slid into the low 80s. What remained high were the numbers of Home Estate/PUDs that entered escrow. That number was in the mid 90s for August coming up from the low to mid 80s of the previous 2 months. But, while the numbers of pending properties grew the median list price for those properties entering escrow rose to the high $900,000 range.
Looking at August 08 we see that there were 82 Home Estate/PUD sales which puts that month about 17% ahead of where we were in August 09. But, the median sales price of $882,500 in 08 is about $50,000 above the 09 number of about $830,000. The median sales price for the whole area has remained basically stable for the past 12 months residing right in that mid to high $800,000 area almost every month.
After declining for May and June the inventory has rose in July and fell back in August currently standing at about 615 Homes for sale from Carpinteria to Goleta. But, with the numbers of homes for sale going down the median list price for the inventory remains at about $1.8 million or to put it another way the median list price is about $900,000 above the median sold price. With the inventory falling the days on the market or the time from when a property is listed until it gets an accepted offer rose in August to the high 80s or low 90s from the mid 70s in July.
Looking at what sold in July we still see the hot part of the market is still in the $450,000 to just below $1 million range. This range accounted for about 60% of the sales while the $1 to $2 million range made up about 25% with the $2 million up bracket covering 15%. But more than half of those $2 million plus sales were over $5 million.
Examining the Districts we see that sales for Carpinteria/Summerland Home Estates are up over 25% for 09 but the median sales price is down by 20% to less than $700,000. For Montecito sales are down by about 25% for 09 with the median sales price falling about 33% to $2.4 million.
East of State St has seen sales about even with last year but the median sales price has declined about 20% down to approximately $900,000. The West of State St district has also seen sales rise by about 9% but the median sales price has dropped by about 23% down to approximately $730,000
Hope Ranch has had sales decline by about 23% and the median sales price fall by almost 14% down to approximately $2.175 million. In the Goleta South area of Santa Barbara sales are even with where they were last year but the median sales price has fallen by about 5% down to approximately $725,000. For
Goleta North the inventory is down by about 20% but the sales are down by about 14% with the median sales price falling by 17% down to about $710,000. When a lot of the properties that are currently in escrow close sales will be approximately where they were last year but the median sales price will remain about 22% below the 08 level holding firm in the mid $800,000 range.
For the condo market sales in August 09 remained in the low 30s level with the median sales price drifting down to the low to mid $400,000 range from the high $400,000 plateau of the previous month. What fell markedly was the sales price to original list price ratio dropping into the high 70s from the low 90s of July. The days on the market also went way up residing closer to the mid 90s from the low 60s of the previous month. Remaining high were the numbers of condos that entered escrow. For August this number was in the low 40s from the high 30s of the previous month. But with the escrows piling up the median list price for those properties remained only slightly above the $460,000 mark of July.
Looking at the year over year numbers, condo sales have risen about 7% from 08 but the median sales price has fallen about 20% down to approximately $470,000. With the sales up 7% the pending properties are up about 30% but the median list price for those 30% more escrows is down by about 22% to about $460,000.
What remains low is the inventory which stands at about 150 condos for sale from Carpinteria to Goleta. We usually see numbers like this in December when the inventory is at its lowest. The median list price for the overall inventory is about $665,000 or approximately $200,000 above the median sold price for everything that has sold in 09.
Looking at the Districts we see that sales of condos in Carpinteria/Summerland for 09 are about 60% ahead of last year but the median sales price is down about 14% to approximately $405,000. In Montecito sales are down about 75% with only 3 sales completed in 09 and the median sales price is down by about 50% to approximately $715,000.
On the East Side of Santa Barbara sales are up by 2 over 08 with the median sales price falling by 21% to about $515,000. For the West Side of Santa Barbara sales are down by approximately 10% with the median sales price dropping by 14% to about $505,000.
In the Goleta South area of Santa Barbara condo sales are up about 8% but the median sales price is down by 23% to $450,000. Finally in the Goleta North area of Santa Barbara sales are up by over 23% but the median sales price is down by about 23% to approximately about $350,000.
Looking at the price range statistics for condos sold in August 09 we see that about 65% of the sales were between $300,000 and $650,000. There were 5 in the $100,000 to $250,000 range and 4 from $700,000 up with 1 coming in at $4,000,000. This marks the 3rd month in a row weve seen at least 1 condo sell in the $1 million+ range.
The primary problem with the condo market remains the lack of inventory particularly in the hot $300,000 to $650,000 range. If properties come on the market between those prices they usually move rather quickly. With the numbers of condos currently in escrow we should remain ahead of the 08 level of sales for the rest of the year and could even surpass the 06 level of sales. But if we are to get a sustainable recovery going we need more inventory.
Gary Woods
For the Santa Barbara Real Estate area of East of State St for the first eight months of 09 the numbers of sales are 7 above where they were last year at this time with 119 closed escrows currently but the median sales price has dropped from $1.125 million to $899,000. The average sales price is still just slightly above $1 million but that is down from $1.356 million last year. The numbers of escrows is even farther ahead with 147 this year compared to 122 last year. But that median list price for those escrows is by $250,000 to $899,000. The sales price to original list price ratio is in the mid 80s which is healthier than any district weve seen so far but that still means that sellers gave up about 15% of what they would have liked to have gotten. Right now there are 154 Home Estate/PUDs available for purchase with a median list price of $1.295 million and an average list price of about $1.7 million.
For the Santa Barbara Real Estate area of East of State St for the first eight months of 09 for the condominium market there is 1 more sale than we have last year at this with a total of 36 condos that closed escrow. The median sales price went down however from $649,000 last year to $513,500 this year. The numbers of escrow is way up from just 38 in 08 to 50 currently but the median list price has fallen from $643,000 to $523,900. Right now there are 47 condos available for purchase on the East side of Santa Barbara with a median list price of $710,000 and an average list price of just under $900,000.
For the Santa Barbara Real Estate area of Montecito Real Estate for the first eight months of 09 compared to 08 shows us sales at about 30% behind where they were last year currently standing at 76 and the median sales price has fallen about $1.2 million down to the currently number of $2.375 million. The average sales price is also down by about $1.3 million to the current level of $3.4 million. Things may be looking up however because the numbers of escrows that have opened is only 20% behind where it was last year with 88 homes that have started the buying process this year and the median list price for those homes is down $300,000 to $2.9 million instead of down by $1.2 million. Right now there are 220 Homes Estate/PUDs available for purchase in Montecito with a median list of about $3.6 million and an average list price of $5.9 million.
For the Santa Barbara Real Estate area of Montecito Real Estate for the first eight month of 09 there have only been 2 sales with a median sold price of $1.06 million. This compares to 08 when there were 13 sales with a median sales price of $1.38 million. The numbers of open escrows is also down from 12 last year to 3 this year with the median list price falling from $1.55 million down to $795,000. The sales price to original list price ratio is in the high 70s meaning that the sellers have given up about 22% of what they would have liked to have gotten for their properties.
For the Santa Barbara Real Estate area of
Carpinteria Real Estate/Summerland Real Estate for the first 8 months of 09 compared to 08 the numbers of sales are up by 8 currently standing at 45 with the median sales price down by about $170,000 to the current $700,000. The numbers of properties that have gone into escrow are way up to 54 with the median list price for those homes hovering right at that $700,000 mark. The sales price to original list price ratio for the yes is in the low 80s meaning that a lot of sellers got a lot less than theyd hoped for. Right now there are 82 Home Estate/PUDs available for purchase in Carpinteria/Summerland with a median list price of $1.35 million and an average list price of about $4.2 million.
For the Santa Barbara Real Estate area of
Carpinteria Real Estate/Summerland Real Estate for the first 8 months of 09 in the condominium market sales are significantly ahead of where they were last year with 31 closed transactions compared to 19 last year. The median sales price has come down from $469,000 in 08 to the current number of $408,000. The numbers of escrows that have been opened this year stands at 41 compared to 26 last year but the median list price for those properties has come down from $465,000 last year to $420,000 this year. The sales price to original list price ratio is down on the high 70s this year which means that sellers gave up over 20% of what they would have liked to have gotten for their homes. Right now there are only 24 condos available for purchase in Carpinteria/Summerland with a median list price of $575,000.
For Goleta Real Estate North in the Santa Barbara Real estate area for Home Estate/PUDs 11 sales for the period were talking about compared to 22 for last year. But last year the median sales price was $926,250 compared to this year when the median sales price is $720,000. Interestingly enough while the sales were half the properties going into escrow were about double from 11 in 08 to 21 for 09. But the median list price for pended properties last year was $829,000 and this year its $610,000. For 09 for this period 22 new listings came on the market with a median list price of $750,000 and last year 19 new listings came on the market with a median list price of $825,000. Right now there are 62 Home Estate/PUDs available for purchase in Goleta North with a median list price of about $1.3 million.
For the condo market in Goleta Real Estate North there were 7 sales for this period with a median sales price of $315,000. Last year there were 3 sales with a median sales price of $430,000. But this year there have been 4 pended listings with a median list price of $394,900 and last year there were 6 pended listings with a median list price of $435,000. For 09 6 new listings came on the market with a median list price of $394,500 and last year 5 new listings came on the market with a median list price of 374,900. Right now there are 16 condos available for purchase in Goleta North with a median list price of $449,000.
In the Santa Barbara Real Estate are of Goleta Real Estate South for the Home Estate/PUD market 4 properties closed escrow from July 28 to August 28 09 with a median sales price of $1.222 million and last year there were 6 sales with a median sales price of $740,000. For this same time period this year 8 properties entered escrow with a median list price of $599,000 compared to last year when 11 entered escrow with a median list price of $699,000. For 08 15 new listings came on the market with a median list price of $899,900 and in 09 only 5 new listings came on the market with a median list price of $989,000. Right now there are 35 Home Estate/PUDs on the market in Goleta South with a median list price of $1.19 million.
For the condo market in Goleta Real Estate South shows us 6 sales for the period with a median sales price of $511,500. Last year at this time there were also 6 closings with a median sales price of $480,000. In 08 for this period there were 5 pended listings with a median list price of $529,500 and in 09 there were 9 pended listings with a median list price of $399,000. For this year 7 new listings have come on the market with a median list price of $349,000 and last year there were also 7 new listings with a median list price of $429,000. Right now there are 8 condos available for purchase in the Goleta South area with a median list price of $409,000.
For the Santa Barbara Real Estate area of Hope Ranch Real Estate for the period of July 28 to August 28 09 there have been 2 sales with a median sales price of $2,112,500 and last year there was just 1 sale with a sales price of $2,850,000. 1 property went into escrow this year with a list price of just under $3 million and last year no properties entered escrow at this time. 3 new listings came on the market for both years but last year the median list price for those listings was $4.5 million and this year its $2.499 million. Right now there are 26 Home Estate/PUDs available for purchase in Hope Ranch with a median list price of just under $3 million.
For the Santa Barbara Real Estate areas of Hope Ranch Real Estate for Condominiums there was no activity.
For Santa Barbara Real Estate East of State St for Home Estate/PUDs there were 22 sales from July 28 to Aug. 28 09 compared to 19 for the same time period last year and interestingly enough the median sales price is exactly the same for both years standing at $930,000. For 09 23 properties went pending with a median list price of $999,000 compared to 08 when there were 14 that went into escrow with a median list price of $1.1 million. For this time period 45 new listings came on the market with a median list price of $1.249 million compared to 08 when 42 listings appeared with a median list price of $1.195 million. Right now there are 155 homes for sale on the East Side of Santa Barbara with a median list price of $1.295 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 time period were discussing which is exactly the same number that sold in 08. But this year the median sales price is $534,500 compared to last year when it was $715,000. For 09 8 condos went into escrow which is exactly the same number that started the buying process in 08 but the median list price last year was $524,990 and this year its $515,000. 16 new listings came on the market for 09 with a median list price of $515,000 and last year 18 new listings appeared with a median list price of $643,000. Right now there are 45 condos available for purchase on the East Side of Santa Barbara with a median list price of $749,000.
Santa Barbara Real Estates area of Montecito Real Estate for the Home Estate/PUD market there were 12 sales for the period of July 28 to August 28 09 compared to 11 last year and with the increased sales the median sales price also went up from $3.2 million in 08 to $4.475 million in 09. There was also 1 more pended listing this year with 17 and the median list price went up from $2.595 million in 08 to $3.3 million in 09. There were more new listings last year with 31 compared to 27 this year but the median list price when from $3.5 million in 08 to $3.3 million in 09. Right now there are 220 homes available for purchase in Montecito with a median list price of $3.6 million.
For the Condo market in Montecito Real Estate there 2 sales this year compared to 2 last year. But the median sales price went from $737,500 last year to $1,082,500 this year. There was 1 condo that went into escrow for 09 with a list price of $659,900 compared to last year when there were 2 with a median list price of $765,000. 5 new listings came on the market in 08 with a median list price of just under $2 million compared to this year when 3 new properties came on the market with a median list price of $1.65 million. Right now there are 20 condos for sale in Montecito with a median list price of $1.55 million.