For the Santa Barbara Real Estate area of West of State St for Home Estate/PUDs for the period of Nov. 25 to Dec. 25 there were 10 sales this year and 8 sales last year. The median sales price in 09 was $739,950 and the average sales price was $757,980. Last year the median sales price was $850,000 and the average was just over $840,000. For the same time period there were 9 escrows opened this year with a median list price of $725,000 and last year there were 6 escrows opened with a median list price of just under $1 million. For 09 there were 13 new listings with a median list price of $745,000 and last year there were 17 new listings with a median list price of $750,000. Right now there are 59 Home Estate/PUDs available for purchase on the West Side of Santa Barbara with a median list price of $1.175 million.
For the condo market for the same time period on the West Side of Santa Barbara Real Estate there were 10 sales this year and 7 sales last year. But the median sales price this year was $520,000 this year and last year it was $415,000. The average sales price however was about $950,000 this year and last year it was about $415,000. There were 3 escrows opened this year with a median list price of about $545,000 and last year there were 4 escrows opened with a median list price of about $470,000. During that same time period 4 new condo listings showed up this year with a median list price of about $699,000 and last year there were 3 new listings with a median list price of about $450,000. Right now there are 31 condos available for purchase with a median list price of about $729,000.
For Santa Barbara Real Estate East of State St for Home Estate/PUDs there were 19 sales from Oct. 27 to Nov. 27 09 with a median sales price of $725,000 and an average sales price of about $950,000. Last year there were 18 sales but the median sales price was about $1.24 million and the average sales price was about $1.5 million. During that time period 26 escrows opened this year with a median list price of about $900,000 and last year 14 escrows opened with a median list price of $1.32 million. For the same time period 30 new listings came on the market in 09 with a median list price of about $1.1 million and in 08 there were 24 new listings with a median list price of about $1.1 million Right now there are 112 Home Estate/PUD listings on the East Side of Santa Barbara with a median list price of about $1.4 million.
For the Condo Market on the East of State side of town for Santa Barbara Real Estate this year 1 sale for $984,000 occurred and in 08 there were 8 sales with a median sales price of $605,000 and an average sales price of $678,312. During that same time period 6 condos went into escrow this year with a median list price of $405,900 and last year 5 condos went into escrow with a median list price of about $460,000. Also during that same time period 4 new condo listings showed up in 09 with a median list price of $429,000 and last year 4 new listings showed up with a median list price of $539,000. Right now there are 47 condos for sale on the East Side of Santa Barbara with a median list price of just under $700,000.
Santa Barbara Real Estates area of Montecito Real Estate for the Home Estate/PUD market there were 12 sales for the period of Nov. 25 to Dec. 25 with a median sales price of just under $2 million and an average sales price of about $2.9 million. Last year there were 7 sales with a median sales price of $3.9 million and an average sales price of about $4.7 million. During that same period 8 homes went into escrow this year with a median list price of about $2.2 million compared to last year with there were 11 escrows opened with a median list price of about $3.4 million. In 09 13 new listings showed up with a median list price of just under $3 million and last year there were 18 new listings with a median list price of about $3.5 million.
For the Condo market in Montecito Real Estate for the same period there were no sales this year and no sales last year. There was 1 escrow opened this year on a property listed at $3.325 million but no escrows opened last year. For 09 4 new condo listings came on the market with a median list price of $768,000 compared to last year when 2 new listings came on the market with a median list price of $1.75 million. Right now there are 15 condos available for purchase in Montecito with a median list price of about $1.4 million.
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 Nov. 25 to Dec. 25 09 there were 4 sales compared to 8 for the same period in 08. The median sales price was much closer however with $624,000 posted last year and $600,000 this year. But the this year there were 9 properties that went into escrow with a median list price of $930,000 compared to last year when there were only 4 that went into escrow with a median list price of $559,000. For 09 9 new listings came on the market with a median list price of about $1.5 million and in 08 there were 12 new listings with a median list price o f just under $900,000. Right now there are 67 Home Estate/PUDs available for purchase in Carpinteria/Summerland with a median list price of about $1.5 million.
For Carpinteria Real Estate/Summerland Real Estate area for the condo market for the same period there were 4 sales this year and 5 sales last year. The median sales price went up however from $382,500 last year to $485,000 this year. The pending properties were one ahead of last years numbers with 4 this year with a median list price of $239,900 compared to 3 last year with a median list price of $390,000. For 09 no new condo listings showed up for the period compared to last year when 5 new listings came on the market with a median list price of $409,000. Right now there are 23 condos on the market in Carpinteria/Summerland with a median list price of just under $500,000.
For Goleta North area of Goleta Real Estate Real Estate for the Home Estate/PUD market through December 18 there are 64 properties available with an average list price of about $2.165 million. The most expensive property available in the area is listed for $22 million while at the other end of the spectrum theres a home on the market for $180,000. The median list price for Goleta is just under $1 million.
With 64 possible properties there are 24 that are in escrow right now with an average list price for those homes of about $855,000. The highest priced listing in escrow is on the market for $1.85 million while the least expensive property is listed at about $410,000. The median list price for homes in the area is just under $700,000.
Through December 18 there have been 156 Home Estate/PUD sales on the North Side of Goleta with an average sales price of about $820,000. The most expensive closed escrow was for $3.3 million while the least expensive property sold for just $125,000. The median sales price is just over $700,000.
For the condo market in Goleta Real Estate North through December 18 there are just 13 properties available with an average list price of about $470,000. The highest priced condo is on the market for $1,059,000 and the least expensive home can be had for just under $300,000. The median however is right at $439,000.
Right now there are 9 condos in escrow with an average list price of about $420,000. The highest priced condo in escrow right now is listed at $549,000 while the least expensive condo is on the market for $228,100. The median list price for condos in escrow right now is $435,000.
Through December 18 there have been 54 condo sales with an average sales price of just under $395,000. The most expensive condo that sold through the middle of December 09 went out at just under $1 million while the least expensive condo sold for $118,300. The median condo sales price so far through 09 in Goleta North is $390,000.
In the Goleta Real Estate South area through December 18 there are only 31 Home Estate/PUDs available for purchase with an average list price of about $1.2 million. The most expensive listed property can be purchased for $2.525 million while the least expensive property is listed for just $417,900. The median list price for the area is about $990,000.
With 31properties available there are 17 homes in escrow with an average list price of about $710,000. The most expensive property in escrow is listed for $1.85 million while the least expensive property is on the market for just $349,000. The median list price for Goleta South properties in escrow is just under $600,000
Through December 18 there have been 83 sales with an average sales price of about $860,000. The highest priced sale was for $2.1 million with the least expensive sale going out for $270,000. The median sales price for Goleta South through the middle of December is $700,000
For condos on the South Side of Goleta Real Estate through December 18 there are only 4 available properties with an average list price of about $532,474. The highest priced listing is on the market for just under $680,000 with the least expensive listing available for just under $300,000. The median list price for the area is $525,000.
With 4 available properties there are 11 in escrow with an average list price for those 11 of $338,895. The highest priced listing in escrow is on the market for just under $500,000 while the least expensive condo in escrow is listed for $190,000. The median list price for condos in escrow in Goleta South is $351,000.
There have been 66 condo sales in Goleta South through December 18 with an average sales price of $436,188. The most expensive condo that sold this year went out for $939,500 with the least expensive property leaving the gate for $129,000. The median sales price through the middle of December 09 is $450,000.
For Hope Ranch Real Estate for Home Estate/PUDs through December 18 the inventory stands at 13 homes with an average list price of just under $5 million. The highest priced listed property in Hope Ranch is on the market for $9.95 million while the least expensive property is on the market for about $1.8 million. The median list price for a property in the Ranch is just under $4 million.
Right now there are 3 properties in escrow for the area with an average list price of about $3.25 million. The highest priced property currently in escrow is listed for $4.1 million with the least expensive open escrow showing up at just under $1.7 million. All this gives us a median list price for homes in escrow for about $3.95 million.
Through December 18 there have been 20 sales in Hope Ranch with an average sales price of $3,276,575. The highest priced property sold for $12.8 million while at the other end of the scale was a home that sold for $1,540,000. With that huge disparity the median sales price through the middle of December is $2.32 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 Estatethrough December 18 there are 59 Home Estate/PUDs available for purchase with an average list price of about $1.5 million. The most expensive available property is listed at about $6.9 million while the least expensive home is on the market for $507,000. That gives us a median list price for the area of about $1.2 million.
There are 25 properties currently in escrow with an average list price of about $815,000. The highest priced listing in escrow is on the market for just under $2 million while at the other end of the spectrum is a home listed at $400,000. The median list price for properties in escrow is $725,000.
Through December 18 there have been 147 sales on the West Side with an average sales price of about $830,000. The highest priced sale for the year went out at $2.125 million while the least expensive home was purchased for $230,000. The median sales price for the West Side for 09 currently stands at $750,000.
For the Condo market on the West Side of Santa Barbara Real Estatethrough December 18 the inventory stands at 32 with an average list price of about $950,000. The most expensive available condo is listed at $2.75 million while the least expensive condo can be had for just under $400,000. The median list price for the area is just under $700,000.
There are 12 condos in escrow on December 18 with an average list price of just under $540,000. The highest priced condo in escrow was listed at $1.225 million while the least expensive condo is listed at $320,000. The median list price for the area is about $490,000.
Through December 18 there have been 77 condo sales on the West Side of Santa Barbara with an average list price of $632,166. The most expensive condo sold for $4.175 million while the least expensive condo went out at $275,000. The median sales price through December 09 is $503,000.
For the East of State St area of Santa Barbara Real Estatethrough December 18 there are 115 Home Estate/PUDs available for purchase with an average list price of about $1.8 million. The most expensive property can be purchased for $12.75 million while the least expensive home is available for just $395,000. The median list price for the area is $1.4 million.
With all those listings there are 29 homes in escrow with an average list price of about $885,000 with the most expensive home in escrow listed at $2.75 million. On the other side of the coin theres a home in escrow thats listed at $365,000 but the median list price of homes in escrow is $809,000.
Through December 18 there have been 203 sales with an average sales price of $1,036,643. The most expensive sale was for $3,295,000 while the least expensive sale was just $285,000. The median sales price for the area for 09 is $900,000.
The condo market for the East Side of Santa Barbara Real Estatethrough December 18 shows us 38 available properties with an average list price of $875,622. The most expensive condo is priced at $2.8 million while the least expensive condo is on the market for just $430,000. All this gives us a median list price of just under $700,000.
There are 17 condos in escrow right now with an average list price of about $470,000. The highest listed property in escrow is on the market for just under $1.1 million while the least expensive condo is listed at under $300,000. The median list price for condos in escrow is $405,900.
This year through the middle of December there have been 51 condo sales with an average sales price of about $640,000. The most expensive condo sold for $1.875 million while the least expensive condo closed for just under $300,000. The median sales price for condos in 09 on Santa Barbaras East Side is $529,900.
For Santa Barbara Real Estate in the Montecito Real Estate area through December 18 there are 164 Home Estate/PUDs on the market with an average list price of about $6 million. The most expensive Estate currently on the market is listed for $29 million while at the other end of the spectrum you can live in Montecito for just $812,900. The median list price is $3.795 million.
With all those listings we only have 13 homes that are in escrow right now with an average list price of about $3.9 million. Topping the charts is an Estate on the market for $18.5 million and at the other end is a home listed for just under $900,000. The median list price of homes in escrow in Montecito is just under $2 million.
Through December 18 there have been 125 Home Estate/PUD sales with an average price of $3,369,496. The highest priced sale in 09 was for about $25 million while the least expensive property went out at $750,000. The median sales price for the area this year is $2.45 million.
For the Condo market in Montecito Real Estate there are currently 16 properties available with an average list price of about $1.6 million. The most expensive condo on the market is listed about $4.5 million while the least expensive property is available at just under $600,000. The median list price for Montecito is $1.4 million.
Right now there are 2 condos in escrow in Montecito with an average list price of just under $2 million. The highest priced property is on the market for $3.325 million while the lowest priced condo is listed at $655,000. You mush all that together and it gives you a median list price of $655,000.
There have been 10 condos sales so far this year with an average sales price of $1,151,400. The most expensive condo sold for $1.875 million while the least expensive condo went out at $625,000. The median sales price for a condo in Montecito in 09 is $945,000.
For Santa Barbara Real Estate in Carpinteria Real Estate/Summerland Real Estate for the Home Estate/PUD market through December 18 there are currently 69 properties available with an average price of about $4.4 million. Topping the list is an estate thats asking about $30 million and at that other end of the spectrum is a property on the market for just $373,500. The median for the area stands at just under $1.5 million.
In escrow currently there are 25 homes with an average list price of about $1,050,000. The most expensive home in escrow is listed at $5,850,000 and the least expensive property is listed at just under $400,000. The median list price for those properties in escrow is $739,000.
Looking at Sold properties through December 18 61 Home Estate/PUDs have closed escrow for an average sales price of $1,159,914. The most expensive property for 2009 sold for $6.35 million while the most inexpensive property sold for $310,000. The median sales price for the area remains at $670,000.
For the condo market in Carpinteria Real Estate/Summerland Real Estate 25 properties are available with an average list price of about $600,000. The most expensive condo currently on the market is listed at $1.875 million while the least expensive condo can be had for just $239,900. The median list price for the area is $487,000.
In escrow right now are 16 properties with an average list price of $352,393. The highest priced condo in escrow is listed for just under $800,000 while the least expensive property is listed at $219,500. The median list price for the area is $319,000.
Through December 18 there have been 49 condo sales with an average sales price of just under $500,000. The most expensive sale closed at $4 million while the least expensive condo went out at just $210,000. The median sales price for the area remains at $420,000.
For Santa Barbara Real Goleta Real Estate North area for the Home Estate/PUD through October 9th shows us 121 sales compared to 118 in 08 for a 2.5% rise. But the median sales price fell from $850,000 in 08 down to $700,000 in 09 for a 18% drop.
The gap between the median list price of $1.275 million and the median sold price of $700,000 is a whopping 45%. Compared to last year when there was a $990,000 median list price and a $850,000 median sold price for a 14% gap.
For the condo market in Goleta Real Estate North through October 9th there have been 39 sales compared to last year when there were 29. This is a rise of about 35%. But the median sales price fell from $465,000 last year to $389,000 this year for a 16% drop.
The gap between the median list price of $439,000 and the median sold price of $389,000 gives us a 11.4% bulge. This compares to last year when the median list price was $500,000 and the median sold price was $465,000 for a 7% difference.
For Santa Barbara Real Goleta Real Estate South area for the Home Estate/PUD through October 9th there have been 64 sales compared to 67 last year for a 4.5% drop. The median sales price fell from $745,000 in 08 down to $700,000 this year for a 6.1% decline.
The gap between the median list price of just below $1 million and the median sold price of $700,000 is 30% compared to last year when it was 17% with a $900,000 median list price and a $745,000 median sold price.
For the condo market in Goleta Real Estate South through October 9th shows us 55 sales compared to 52 last year for a 6% rise. The median sales price fell from $575,000 to $455,000 for a 20% drop.
The gap between the median list price of $460,000 and the median sold price of $455,000 in 09 is just 0.9% this compared to 08 when there was a $555,000 median list price and $574,950 median sold price for a 3.4% bulge.
For Santa Barbara Real Estate Hope Hope Ranch Real Estate for the Home Estate/PUD market through October 9th there have been 13 sales compared to 17 last year for a decline of 23.5%. The
Median sales price has fallen about $500,000 from $2.85 million to $2.35 million for a 18% drop.
The gap this year of the median list price of about $3 million and a median sold price of $2.35 million yields a 22% difference. This compares to last year when there was a 5% gap with a $3 million median list price and a $2.85 million median sold price.
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 through October 9th there have been 115 sales which is exactly the same number there were last year. The median sales price has dropped from $935,000 in 08 to the current number of $735,000 for a 21% decline.
The gap between the median list price of $1.15 million and the median sold price is $735,000 for a 36% bulge. This compares to last year when the median list price was $1.039 million and a $935,000 median sold price gives us a 10% gap.
For the Santa Barbara Real Estate West Side condo market there have been 53 sales in 09 compared to 47 last year for a 13% rise. The median sales price has dropped from $575,000 last year to $515,000 this year for a 10% drop.
The gape of the median list price of $649,000 compared to the median sold price of $515,000 gives us a 20% differential. This compares to last year when there was a 25% gape with a $769,000 median list price and a $575,000 median sales price.
For Santa Barbara Real Estate area East of State St area for the Home Estate/PUD market through October 9th there have been 148 sales compared to 135 last year. This is an increase of about 10%. But the median sales price has fallen from $1.15 million in 08 to $893,000 in 09 for a 22.3% decline.
The gap between the median list price of $1.349 million and the median sales price of about $900,000 is 34% compared to last year the gape was 22.7% with a $1.5 million median list price and a $1.5 million median sold price.
On the condo side of the ledger for the East Side of Santa Barbara Real Estate through October 9th there have been 46 sales this year compared to 41 last year for a 12% rise. But the median sales price went from $629,000 last year to $525,450 this year for a 17% drop.
The gap for 09 of the median list price of $709,000 and the median sales price of $525,450 is 26% which compares to last year when the gap was just 10% with a median list price of $700,000 and a median sold price of $629,000.
For Santa Barbara Real Montecito Real Estate area for the Home Estate/PUD market the sales figures through October 9th are down about 20% from 125 in 08 to 100 currently. The median sales price has fallen 25% from $3.34 million to $2.5 million.
The gap between the median list price of $3.7 million and the median sales price of $2.5 million is 32% for 09 and 08 it was just 10% with a $3.7 million median list price compared to a $3.334 million median sold price.
For the condo market in Montecito Real Estate through October 9th there have been 4 sales compared to 15 last year. This is a 74% drop in sales while the median sales price has fallen about 50% from $1.38 million in 08 to about $700,000 this year.
The gap between the median list price of $1.65 million and the median sales price of $700,000 is 58% for 09 while in 08 it was 19% with a median list price of $1.7 million and a median sold price of $1.38 million.
For Santa Barbara Reals Carpinteria Real Estate/Summerland Real Estate for the Home Estate/PUD market the median sales price through October 9th there have been about 16% more sales this year compared to last but the median sales price has dropped about 19% to approximately $690,000.
The difference between the median list price of $1.35 million and the median sold price of about $690,000 is about 50% for 09 compared to last year when the gap was 34% with a median list price of $1.279 million and a median sold price of about $850,000.
For the Carpinteria Real Estate/Summerland Real Estate condo market the numbers of sales is up 30% with a total of 39 but the median sales price has dropped about $460,000 in 08 to $415,000 this year for a about a10% decline.
The median sales price this year is about $500,000 but the median sold price of $415,000 gives us a 17% drop. This compares to last year when there was a $640,000 median list price and a $460,000 median sold price for a 28% gap.
For the Goleta Real Estate North area of Santa Barbara Real Estate the Home Estate/PUD market there have been 143 sales through the end of November 09 with a median sales price of $704,000. This compares to last year when there were 140 sales with a median sales price of $832,500. The average sales price was a lot farther apart however. In 08 that average sales price was $966,112 and in 09 it was $808,467. Through the first 11 months of 09 there have been 152 escrows opened with a median list price of $729,000 and in 08 there were 142 escrows opened with a median list price of $825,000. Through November of this year there have been 233 new listings for Goleta North with a median list price of $789,000 and in the previous year there were 251 new listings with a median list price of $880,000. Right now there are just 63 Home Estate/PUDs available for purchase in the Goleta South area with a median list price of about $1.1 million.
For the Condo Market in the Goleta Real Estate South area of Santa Barbara Real Estate weve had 52 sales so far in 09 with a median sales price of about $395,000. Last year there were 38 sales but the median sales price was $467,500. The average sales also dropped from about $510,000 in 08 to about $400,000 in 09. Through November 09 there have been 61 escrows opened with a median list price of just under $400,000 and last year there were 36 escrows opened with a median list price of $475,000. For the first 11 months of this year there have been 82 new listings with a median list price of about $410,000 come on the market and last year there were 73 new listings with a median list price of just under $500,000. Right now there are just 14 condos available for purchase on the North Side of Goleta with a median list price of $439,000.
For the Goleta Real Estate South area of Santa Barbara Real Estate the Home Estate/PUD market there have been 79 sales through the end of November 09 compared 74 sales for the same period in 08. This year the median sales price has been $700,000 and last year it was $731,000. The average sales price for 09 has been about $885,000 and in 08 it was about $865,000. For the same time period there have been 92 escrows opened with a median list price of $719,000 and last year there were 73 escrows opened with a median list price of $745,000. Through November this year there have been 132 new listings with a median list price of just under $800,000 and last year there were 149 new listings with a median list price of just under $800,000. Right now there are just 27 Home Estate/PUDs available for purchase in the Goleta South area with a median list price of $989,000.
For the Condo Market in the Goleta Real Estate South area of Santa Barbara Real Estate weve had 63 sales in 09 compared to 57 in 08. The median sales price slid however from $565,000 in 08 to $451,000 in 09. The average sales price also dropped from about $535,000 in 08 to about $440,000 in 09. Through November 09 there have been 71 escrows opened with a median list price of about $450,000 and in 08 there were 56 escrows opened with a median list price of $565,000. So far this year there have been 77 new condo listings for Goleta South with a median list price of $455,000 and last year there were 88 new listings with a median list price of $529,000. Right now there are just 6 condo listings in all of Goleta South with a median list price of just under $500,000.
For the Home Estate/PUD market in Hope Ranch Real Estatethere have only 18 sales with a median sales price of $2.33million and with an average sales price of $3.42 million through November 09. Last year there were also 18 sales but the median sales price was $2.77 million and the average sales price was $3.13 million. Through November of 09 there have been 22 escrows opened with a median list price of $2.65 million and last year there were 17 escrows opened with a median list price of $3 million. So far this year there have been 48 new listings with a median list price of $2.65 million and last year there were 44 new listings with a median list price of just under $3 million. Right now there are just 15 Home Estate/PUDs available for purchase in Hope Ranch with a median list price of about $3.5 million.
For the Santa Barbara Real Estate area of Hope Ranch Real Estate for the first seven months of 08 has seen no activity.
On the West Side of Santa Barbara Real Estate for the Home Estate/PUD market there have been 142 sales through November 09 compared to 127 through November 08. But the median sales price has dropped from $920,000 last year to $750,000 this year. The average sales price has come down even further from $1.04 million last year to just under $830,000 this year. The numbers of escrows opened so far in 09 has been 152 with a median list price of $780,000 and last year there were 134 escrows opened with a median list price of just under $950,000. So far this year there have been 248 new listings with a median list price of $895,000 and last year there were 274 new listings with a median list price of about $960,000. Right now there are just 63 Home Estate/PUDs for sale on the West Side of Santa Barbara with a median list price of $1.175 million.
For the condo market on the West Side of Santa Barbara Real Estate there have been 71 sales this year compared to 56 last year. But the median sales price has dipped from $540,000 last year to $505,000 this year. The average sales price has also slid from $622,864 in 08 to just under $600,000 in 09. Through November of 09 there have been 82 escrows opened with a median list price of $515,000 and last year there were 57 escrows opened with a median list price of $535,000. So far this year there have been 120 new listings on the West Side with a median list price of $515,000 and in 08 there were 160 new listings with a median list price of just under $600,000. Right now on the West Side of Santa Barbara there are just 30 condos available for purchase with a median list price of just under $700,000.
Through the first 11 months of 09 for the Home Estate/PUD market on the East Side of Santa Barbara Real Estate there have been 184 sales compared to last year when there were 156. But last year the median sales price was about $1.13 million and this year it has been just under $900,000. The average sales price has also slid from $1.35 million in 08 to about $1.04 million in 09. So far this year there have been 216 escrows opened with a median list price of just under $900,000 and last year there were 163 escrows opened with a median list price of just under $1.2 million. So far this year there have been 415 new listings with a median list price of $1.1 million compared to last year when there were 361 new listings with a median list price of $1.32 million. Right now there are 111 Home Estate/PUDs available for purchase on the East Side of Santa Barbara with a median list price of just under $1.4 million.
For the condo market on the East Side of Santa Barbara Real Estate in 09 there have been 50 sales compared to 53 last year and the median sales price slid from $614,000 last year to $534,450 this year. The average sales price also dropped but from $712,950 in 08 to $645,146 this year. The numbers of properties that went into escrow for 09 has been 63 with a median list price of $525,000 and last year there were 52 escrows opened with a median list price of $619,000. So far in 09 there have been 63 new listings with a median list price of $605,000 and last year there were 116 new listings with a median list price of $649,000. Right now there are just 46 condos available for purchase on the East Side of Santa Barbara with a median list price of $695,000.
For the Home Estate/PUD market in Montecito Real Estate there have been 114 sales through November of 09 compared to 139 for the same period in 08. The median sales price has dipped from $3.1 million last year to $2,475,000 this year with the average sales price falling from about $4.33 million last year down $3.4 million this year. The pended sales are a lot closer together going from 132 in 08 to 122 in 09 and the median list price for those properties is closer together with just over $3 million in 08 down to about $2.7 million in 09. So far this year there have been 338 new listings with a median list price of about $3 million and last year there were 351 new listings with a median list price of about $3.5 million. Right now there are 174 Home Estate/PUDs available for purchase with a median list price of about $3.7 million and an average list price of about $6.25 million.
Looking at the condo market for Montecito Real Estate there were 17 sales last year with a median sales price of $1.38 million and this year there have been 10 sales with a median sales price of $1,060,000. The average sales price is also rather far apart with a $1.68 million number posted for 08 and a $1.15 million posted this year. So far in 09 there have been 11 condo escrows opened and last year there were 15 and the median list price of those 11 this year have been just under $1 million compared to last year when the median list price was $1.55 million. So far this year there have been 37 new listings with a median list price of about $1.5 million and last year there were 36 new listings with a median list price of just under $1.6 million. Right now there are only 12 condos listed for sale in Montecito with a median list price of about $1.6 million and an average list price of about $1.72 million.
Through the first 11 months of 09 for Carpinteria Real Estate/Summerland Real Estate in the Home Estate/PUD market there were 59 sales compared to 52 last year. The median sales price dropped however from about $850,000 in 08 to $670,000 in 09. The average sales price dropped even further from about $1.88 million last year to about $1.75 million this year. The numbers of pending listings went way up for 09 when they reached 77 compared to 54 in 08 but the median list price for those pended listings went from about $800,000 in 08 to about $700,000 in 09. For the same time period there were 141 new listings last year with a median list price of $979,000 and in 09 there have been 154 new listings with a median list price of $930,000. Right now there are 71 Home Estate/PUD properties available for purchase with a median list price of about $1.4 million and an average list price of a whopping $4.28 million.
For the condo market for the Carpinteria Real Estate/Summerland Real Estate are there have been 46 sales this year compared to 35 last year. But the median sales price has slid from $460,000 last year to $417,500 this year. The average sales price is a lot closer together however going from about $485,000 in 08 to just over $500,000 in 09. The numbers of listings that went into escrow was just 40 in 08 with a medina list price for those condos of $465,000 and in 09 there have been 58 listings that went into escrow with a median list price of just under $400,000. For 08 there were 137 new listings with a median list price of about $600,000 and in 09 there have been only 91 new listings with a median list price of $435,000. Right now there are just 28 condos available for purchase with a median list price of just under $500,000 and an average list price of just over $620,000.
This is an analysis of the Santa Barbara Real Estate market including Carpinteria Real Estate/Summerland Real Estate, Montecito Real Estate, Hope Ranch Real Estate, downtown Santa Barbara Real Estateand Goleta Real Estate through the month of November 09. Starting with the Home Estate/PUD sector in November, sales were in the low 70s dropping from the low 80s in October. A drop in the numbers of units sold from the previous month is not alarming and can be chalked up primarily to being the end of the year when sales usually fall and dont pick up until the second or third month of the New Year. But, the good news is that sales for November 09 were more than double the sales that occurred in November 08.
All of the decrease in sales from October occurred in the over $1 million category. Sales below $1 million were almost exactly where they were in the previous month but from $1 to $2 million sales fell by about one third and from $2 million on up sales dropped by about half. With the sales from $1 million down remaining stable and those above that mark dropping you would expect the median sales price to drop and it did, declining from $970,000 in October to about $750,000 in November.
Looking at the first 11 months of 09 we see that sales finally surpassed those that occurred for the same period in 08. Last year at this time there were about 700 Home Estate/PUD sales and this year that number is closer to 750. But, with the numbers of sales increasing the median sales price has declined about 20% from $1,055,000 through November 08 to below $850,000 for the same period through November 09.
This decline to approximately an $850,000 median price for the year means that the median sales price is just below where it was in November 03 in Santa Barbara. Looking at the national data from Case-Shiller and Inman we see that locally our numbers mirror the national figures. Almost every place else in the country is at almost exactly that same 03 median sales price level for their area and the median sales price fell by 20% from 08 to 09.
Looking at the Districts we see that Carpinteria/Summerland through November 09 is about 13.5% ahead in the numbers of sales but the median sales price has dropped about 21% to $670,000. In Montecito sales are down by 18% and the median sales price is down 20% to $2,475,000.
For the East Side of Santa Barbara sales are up about 19% but the median sales price is down approximately 20% to $900,000 and over on the West Side sales are up 12.6% but the median sales price is down about 19% to $750,000.
In Hope Ranch sales are exactly where they were last year at this time but the median sales price has fallen 16% to $2,335,000. The south side of Goleta has sales up almost 7% but the median sales price has declined by 4.2% to $700,000 and finally for Goleta North sales are up by 3% with the median sales price down by 15.4% to $704,000.
The sub $1 million market remains strong in Santa Barbara but the over $1 million market has declined from the previous month.
For the Condo segment of the market sales fell from 36 in October to about 30 for November. Again, this is not cause for alarm but just a seasonal phenomenon. Unlike the Home Estate/PUD market the median sales price rose in November from about $460,000 the previous month to approximately $475,000. The trend in condo prices has generally been up since the early part of the year but the median sales price continues to be below where it was last year at this time. The market should remain strong with almost as many condos going into escrow in November as there were those that sold.
Looking at numbers for the whole year we see that sales are up about 14% over where they were in 08 and condos that entered escrow are up almost 35% from the previous year. But, despite the current upward pressure on the median sales price year over year the median sales price is down about 16% to $467,000.
The only thing that could prevent this surge in the numbers of condo sales from continuing is the lack of inventory which continues to go down and currently stands at around 130 units for sale from Carpinteria to Goleta. At this time in 08 there were 611 new condo listings and this year there have been just 534. The median list price on the properties offered for sale this year has gone down about $100,000 from where it was last year which is the reason that sales have gone up. But, with sales up and listings down the inventory continues to shrink.
Examining the Price Range Statistics for the year, there have been only 16 of the 292 condos sales thus far that were $1 million or over with the highest priced condo going for $4 million. That property was right on the beach in Carpinteria/Summerland and was about $2 million above the next highest priced sale. The majority of the sales came in the $300,000 to $550,000 range with a few showing up around $120,000. The high end condo market in Santa Barbara has taken a dramatic hit in the past year and its difficult to put together a scenario which would have that part of the market coming back in a significant way for the next few years.
Looking at the Districts we see that condo sales in Carpinteria/Summerland are up over 30% but the median sales price has gone down 9% to $417,500. In Montecito sales are down over 40% and the median sales price has slipped 23% to $1,060,000.
Over on the East Side of Santa Barbara sales are down 6% and the median sales price is down 13% to $534,500 and the West Side of Santa Barbara has sales up 27% but the median sales price down by 6.5% to $505,000.
For Goleta South sales are up 10.5% but the median sales price is down 20% to $451,000 and for Goleta North sales are up 37% with the median sales price falling by 16% to $394,000.
The condo market should continue to surge if the inventory is there for people to purchase. With the lack of inventory prices should continue to rise with the demand for fewer and fewer properties remaining high. For the Home Estate/PUD market the demand for homes below $1 million remains strong and should continue as long as interest rates remain low.
Gary Woods
For Goleta Real Estate North in the Santa Barbara Real estate area for Home Estate/PUDs market for the period of Oct. 27 to Nov. 27 09 there were 14 sales compared to 7 last year and the median sales price went up from $700,000 last year to about $760,000 this year. The average sales price also went from about $780,000 last year to about $840,000 this year with the numbers of escrows going up from 12 in 08 to 18 in 09. The median list price on those escrows dropped however from about $750,000 last year to about $700,000 this year. During that same time period there were 22 new listings that showed up on the market this year with a median list price of about $770,000 and last year there were 19 new listings with a median list price of about $860,000. Right now there are 62 Home Estate/PUDs available for purchase in the Goleta North area with a median list price of $1,049,000.
For the condo market in Goleta Real Estate North for the same period there were 10 sales this year compared to 6 last year. But the median sales price dropped from about $535,000 last year to about $420,000 this y ear. The average sales price slid even further from about $615,000 last year to about $415,000 this year. During the same time period 3 escrows opened this year with a median list price of $419,000 and last year only 1 escrow opened with a list price of just $128,800. This year there were 4 new condo listings with a median list price of about $420,000 and last year there were 7 new listings with a median list price of about $370,000. Right now there are just 14 condos available for purchase in the Goleta North area of Santa Barbara with a median list price of $435,000.
Recently, Trudi Carey spoke to the Santa Barbara Board of Realtors at their quarterly meeting at the Cabrillo Arts Center on New Housing Trends. She was also the featured speaker on new housing on Mark Sneidmans Real Estate Radio Hour last month. Below is a summary of Trudys trend analysis.
Home buyer demographic trends
-30 years ago it was the baby boomers (approximate age 50-70) parent who wanted a single family home in the suburbs on a big lot
-Baby boomers today will drive the next 30 years of new home design, they want easy living, close proximity to restaurants, culture and public transportation
-Immigrant buyers will be major force-40 million strong with 54% coming from Latin American countries
-Immigrants currently are 29% of household growth, vs. 19% in the 90s and 10%in the 80s
-More than ½ Latino immigrants in California own homes
-Desire for home ownership in the Asian communities is profound i.e. San Diego
-Homeownership is a priority for Cubans in Florida
-Immigrant homeownership rises after an immigrant has been in the United States for 10 years
-The downturn in Mexican immigration has muted the growth of foreign born households
-For immigrants size matters. They desire bigger homes with decent sized yards and large room counts to accommodate large and extended families
-Hispanics tend to gravitate to existing homes to fix up
-Asians tend to purchase newer homes; they dont want to have to fix things
-Middle class still drives the industry in numbers
What is different about designing or building a new home in todays era?
-Todays scarcity includes natural resources such as oil, water, and gas consumption, for example Las Vegas or Phoenix wouldnt have been built in todays environment
-Economics are also now a scarce resource, if you cant get a construction loan you wont build
-Last two decades buyers wanted single family detached
-Today due to natural resources scarcity you will more likely to see new housing in a midrise in Minnesota
-Boomers will buy their retirement home earlier than the previous generation
-What we have built previously wont work in the future
-Buyers want to be in a walk able town community i.e. not reliant on a car to go to dinner
-The mature buyer lost the equity for the home of their dreams, but still have the same tastes. We predict they will want a home smaller in size but still of higher quality
-The choice of this buyer will be 1) location not size 2) a desire for urban areas: dense population, emphasis on community 3) The boomer will make serious concessions for health and their loss of equity
-They desire an affordable, well designed and uncluttered dwelling
Future products and design trends we will see in new homes
-Elevators or lifts for two story homes
-Metal roofs (eco friendly and low maintenance)
-Faux stone (eco friendly)
-Universal design-sensitive to those in a wheelchair specifically. All counters and cabinets should be designed so a wheelchair can access under the counter i.e. at the stove (cabinet doors could pull out and stack on the sides underneath), sink, and master bath sink. We will see wider doors and halls as well. Halls should not have 90 degree turns to allow for emergency stretcher access. Level floors with no raised transitions i.e. step down living rooms, steps to the front door or raised thresholds between room flooring materials are out. Open plans will be designed for easy navigation. Every portion of the home will be accessible by wheel chair.
-Boomer buyers want an active 2,000 sf home (sauna, billiards room, media room, his and her retreat are still a want)
-Rustic finishes with clean modern furnishings
-Too save square footage and costs, rooms that have double uses i.e. Murphy beds in the den, Kitchen Island that doubles as the dining room table or accent table, front hall space designed to extend the dining room at holidays
-Front door locks will be wireless, simplex, or thumbprint
-45% of 70-75 years old use internet today, in 2005 26% used the internet=new homes will be wired for computer use as common as telephone users the last 30 years
-Even though downsizing, the new buyer will still want room for extended and visiting family, without sacrificing quality or comfort
New home buyer reality vs. emotions
-More houses for their money, but fewer are willing to spend beyond their needs
-Lifestyle now more about time with family
-Fervent for energy efficient homes to bring down monthly debt
-Mc Mansion dream now set aside for a responsible home
-Buyers thing it is a good or excellent time to buy a home
-Today the new buyer is not stretching their budgets to get a good deal on a new home
-85% of homebuyers say their priority is to buy in the right neighborhood
-The homebuyer would accept a smaller home in the right neighborhood
-2/3 of people going out to eat less, communal instinct for a quality home
-½ people would prefer a newly built home-but not as locked into that as before
-Todays buyers feel they might get a better deal on an existing home
-Many shoppers still believe a new home is a better investment due to energy savings and fewer repairs as the home comes with warranties
-Heating, ventilation and air conditioning, windows, lighting, and water fixtures are seen as very important to be energy saving
-70% of buyers agree they would like solar panels but they will not pay $150-$200 more a month in their payment to get them. If they cost of energy saving features cant be repaid in energy savings expense in 2 years the new buyer is not interested in the increased cost
-The most a homebuyer will pay for all energy features is approximately $ $2,000-$5,000 total
The Redesigned retirement dream home
-Modest detached dwelling with one bedroom, a home office, a two car garage, a guest cottage in the neighborhood that residents can take turns reserving for visitors, community studio for woodworking, boat building and other messy projects
-Expect smaller spaces but nice millwork, finishes, and high quality
-The home isnt designed to show off to their friends anymore, it is purely good solid stuff, not pressboard furniture and cheap countertops.
-A combination of small and high end
-Not going back from granite to laminate, or vinyl floors from tile.
-The retirement buyer will be more like a buyer choosing between the BMW 3 series and the 5; same leather and radio just smaller
-Financial means have downshifted but their tastes havent;
-Tighter plans will do away with the formal dining rooms and living rooms, but they will hold the line on kitchen/entertainment areas, nice master baths with his and her vanities, beamed ceilings. For the first time in a long time maybe a narrow 55 lot is ok now that homes are smaller
-Purchasers will need at least 20% down, homes values will be smaller but with quality, average net worth has eroded by 45%
-Previously 15% of the national market could squeeze themselves into a million dollar home, now 5%
-Before the crash they would have moved to fancier homes, now their goal is a smaller less expensive home so they can still to help their children
-Common desire for single story plans, low maintenance living, high design, and the ability to live near their children
-Close to work, most likely they will be working past traditional retirement age
-79% would stay in their current home but their home is not aging with them and cant be remodeled to one story, wider halls etc.
-Big need for smaller homes with accessory dwelling units such as granny flats, with housing within walking distance of shopping, public transit and services such as health care
Fixing up your current home to put it on the market?
Paint is the least affordable effect to spruce up your current home if you are staying put or getting ready to put your home on the market.
For 2010: to create warm and functional spaces, the good morning palette is honey like hues such as tan or pale gold, coral, yellow and mineral grey
Good night palettes for the ceilings: pastel hues, particularly pale blue or shell pink for ceilings. Midnight blue, eggplant, wine
Good bye palette for home staging: assortment of simple hues for a variety of spaces for a back drop of any living area, classic palette: khaki pared with crisp white, mid tone blues, off white, sandy tan and black
Trudi Carey is a licensed architect, real estate broker and general contractor. Ms. Carey is the President of the The Carey Group, Inc. celebrating their 30th year in Santa Barbara, designing and building new homes. Article research references: Credit Suisse Survey, Professional Builder and National Paint Institute.
In the Santa Barbara Real Estate are of Goleta Real Estate South for the Home Estate/PUD market from Oct. 27 to Nov. 27 09 there were 9 sales with a median sales price of $740,000 and an average sales price of about $785,000. Last year there were 6 sales with a median sales price of about $670,000 and an average sales price of about $665,000. During that same time period 13 escrows were opened this year with a median list price of $739,000 and last year there were 4 escrows opened with a median list price of about $700,000. Also during that time 15 new listings came on the market this year with a median list price of about $739,000 compared to last year when there were 9 new listings with a median list price of about $730,000. Right now there are 30 Home Estate/PUDs available for purchase in Goleta South with a median list price of $985,000.
For the condo market in Goleta Real Estate South for the same period there were 5 sales compared to 4 last year. But the median sales price dropped from about $500,000 to about $310,000. The average sales price also slid from about $465,000 to about $360,000. During that same time period 6 condos went into escrow with a median list price of about $275,000 and last year only 2 escrows opened with a median list price of $279,000. There were only 2 new listings this year with a median list price of $275,000 and last year there were 4 new listings with a median list price of $322,905. Right now there are just 7 condos available in Goleta South with a median list price of $525,000.
For the Santa Barbara Real Estate area of
Hope Ranch Real Estatefor the period of Oct. 27 to Nov. 27 09 there were 4 sales and last year there was 1. The median sales price was about $2.5 million this year compared to last year when that home sold for $2.7 million. The average this year was a little higher at $2.9 million compared to that $2.7 million sale of last year. During the same time period there were 4 escrows opened this year with a median list price of $3.65 million and last year there were 2 escrows opened with a median list price of about $3.2 million. For the same time period there were 2 new listings that showed up on the market with a median list price of about $1.8 million and last year there were 4 new listings with a median list price of about $2.65 million. Right now there are just 15 Home Estate/PUDs available for purchase in Hope Ranch with a median list price of about $3.5 million.
For the Santa Barbara Real Estate areas of Hope Ranch Real Estate for Condominiums there was no activity.
For the Santa Barbara Real Estatearea of West of State St for Home Estate/PUDs for the period of Oct. 27 to Nov. 27 there were 17 sales this year and 7 last year. The median sales price in 09 was $825,750 and in 08 it was $875,000. The average sales this year was about $810,000 and last year it was about $890,000. During the same time period there were 12 escrows opened in 09 and 13 in 08. This year the median list price of those properties entering escrow was about $850,000 and last year it was about $800,000. In 09 there were 14 new listings that came on the market with a median list price of about $825,000 and last year there were 21 new listings with a median list price of about $900,000. Right now there are 60 Home Estate/PUDs for sale on the West Side of Santa Barbara with a median list price of $1.2 million.
For the condo market for the same time period on the West Side of Santa Barbara Real Estatethere were 13 sales this year and 8 sales last year. But the median sales price this year was $470,000 and last year it was $453,500. The average sales price however was about $615,000 this year and last year it was about $460,000. There were 8 escrows opened this year with a median list price of about $500,000 and last year there was only 1 escrow opened with a list price of about $450,000. During that same time period 5 new condo listings showed up this year with a median list price of about $490,000 and last year there were 13 new listings with a median list price of about $519,000. Right now there are 30 condos available for purchase with a median list price of about $700,000.