Santa Barbara Property Sales - October 2011

Carpinteria

(REO)$185,000 4634 Ninth St

$192,000 5951 Birch St 1

$200,000 5936 Birch St 1

$203,000 7015 Gobernador Cyn

$282,000 6048 Jacaranda Way F

(REO) $350,000 1260 Franciscan Ct 11

$385,500 1413 Sterling Ave

$420,000 1484 Noma St

$520,000 4655 Aragon Dr

$615,000 1098 Linden Ave

$645,000 1477 La Jolla Pl

$1,100,000 7410 Shepard Mesa Rd

$424,792 Avg. Price
$367,750 Median Price
12 Sales

Goleta

(REO)$210,000 31 Dearborn Pl 34

(REO)$230,000 5516 Armitos Ave 79

$258,000 7105 Monique Ct

$300,000 6864 Silver Fern Ct

$325,000 7636 Hollister Ave 259

$363,000 534 Mills Way

(REO)$380,000 7017 Marymount Way

$425,000 107 Cardinal Ave

(REO)$460,000 688 La Roda Ave

(REO)$474,000 581 Poppyfield Pl

$480,000 5134 Calle Real B

$520,000 6245 Momouth Ave

(REO)$525,000 62 Touran Ln

(REO)$545,000 121 Santa Ana Ave

$557,000 523 Inwood Dr

(Reo)$632,000 7952 Winchester Cir

(Reo)$635,000 5155 Tabano Way

(Reo)$650,000 7938 Winchester Cir

$660,000 7319 Greensboro St

$687,000 5083 Parkwood Pl

$715,000 5304 Orchard Park Ln

$740,000 4976 La Ramada Dr

$750,000 5133 Walnut Park Dr

$825,000 6828 Shadowbrook Dr

$830,000 455 Orange Blossom Ln

$930,000 6784 Sueno Rd

$1,048,000 416 Mills Way

$561,259 Avg. Price
$545,000 Median Price
27 Sales

Montecito

$253,000 1125 Westmont Rd

$792,500 755 Circle Dr

$890,000 1355 Santa Clara Wy

$944,000 696 Cowles Rd

$1,060,000 116 Palm Tree Ln

$1,200,000 1368 East Valley Rd

$1,200,000 677 Orchard Ave

$1,550,000 950 Arcady Rd

$2,210,000 660 Randall Rd

$2,300,000 433 Alcala Ln

$3,300,000 275 Olive Mill Rd

$1,427,227 Avg. Price
$1,200,000 Median Price
11 Sales

Santa Barbara

$198,500 220 W Canon Perdido

(REO)$313,000 325 Ladera St 4

$325,000 1233 Richelle Ln G

$331,500 2113 Castillo #A

$340,000 1231 Stonecreek Rd D

(REO)$365,000 3663 San Remo Dr #5a

(REO)$375,000 1305 Cacique St

(REO)$375,000 2626 Calle Real

$380,000 551 E Montecito St

$380,000 557 E Montecito St

(REO)$383,000 1600 Garden St 18

$395,000 577 E Montecito St

$401,000 1709 Sycamore Cyn Rd

(REO)$405,000 433 E Micheltorena St

$410,000 535 E Montecito St

(REO)$425,000 431 E Carrillo St

$426,000 565 E Montecito St

$445,500 579 E Montecito St

(REO)$460,500 3943 Camellia Ln

$470,000 1010 N Nopal St

$475,000 222 Reef Ct

$483,500 452 Fellowship Rd

$485,000 221 Reef Ct

$485,000 2824 Miradero Dr

(REO)$485,000 418 E Sola St

$487,500 573 E Montecito St

$540,000 818 W Mission St

$560,000 823 Alberta Ave

$600,000 3508 Madrona Dr

$600,000 2525 State St 23

(REO)$605,000 305 Sherwood Dr

$615,000 202 San Nicolas

$638,000 515 W Quinto St

$682,500 227 Los Alamos

(REO)$690,000 832 Vales St

$715,000 4004 Via Lucero Unit 4

(REO)$715,000 3997 Foothill Rd

$717,000 1127 Bath St

$730,000 1576 Eucalyptus Hill

$736,000 342 Oliver Rd

$740,000 521 Carriage Hill Ct

$745,000 4018 Via Diego

$750,000 7 St Ann Dr

$750,000 316 W. Ortega #3

$753,000 1132 Crestline Dr

$775,000 1424 Pacific Ave

(REO)$777,000 218 Las Ondas

$780,000 3124 Argonne Cir

$798,500 1109 Las Olas Ave

$858,000 764 Casiano Dr

$867,000 1609 Garden St

$880,000 3677 Eileen Way

$895,000 4868 Vieja Dr

$987,000 3752 Lincoln Rd

(REO)$1,050,000 2020 Las Canoas Rd

$1,100,000 958 Arbolado Rd

$1,220,000 3084 Calle Mariposa

$1,250,000 707 E Valerio St

$1,379,000 1635 Oramas Rd

$1,400,000 1717 Mission Ridge Rd

$1,500,000 2660 Puesta Del Sol

$2,059,000 100 E Constance Ave

$3,580,000 1709 Overlook Ln

$720,113 Avg. Price
$610,000 Median Price
63 Sales

Summerland

$388,000 3960 Via Real

(REO) $500,000 2576 Lillie Ave

$3,415,000 745 Sand Point Rd

$1,434,333 Avg. Price
$500,000 Median Price
3 Sales

Total:

$739,621 Avg. Price
$610,000 Median Price
116 Sales
24% Reo Sales

January Santa Barbara Stats!

For more statistical information visit my website: NicoleByrnes.com

Santa Barbara Real Estate through the end of January 2011 for Montecito, Hope Ranch, Santa Barbara, Goleta, Carpinteria and Summerland

Escrows are up from January 2010 when there were 48 with an $825,000 median list price to 68 for 2011 with an $850,000 median list price. The return to an $850,000 median list price is particularly encouraging after experiencing 2 months of the median list price for escrows dipping into the $790,000 range and seeing evidence of that decline in the $787,500 median sold price of December 2010. Throughout most of 2010 and back into a substantial portion of 2009 the median list price of escrows was $850,000 so at this time it doesn’t look like there’s going to be a further erosion in home prices.

The sub $1 million market took a big drop from 56 sales in December to 25 in January and the $1 to $2 million market fell from 20 sales in December to 12 in January with the over $2 million segment dropping from 12 to 4 sales including only 1 over $5 million.

New listings always spike up in January because a lot of listings expire at the end of the year and then get re-listed at the beginning of the New Year and 174 “new listings” appeared in January. But, the overall inventory also went up to 472 from 429 in December with those approximately 475 properties having a median list price of about $1.55 million and an average list price of $3.2 million.

Looking at the Districts, we see that Home sales in Carpinteria/Summerland fell from 9 in ’10 to 1 in ’11 and the median sales price dropped from $790,000 last year to $591,000 for that one sale. In Montecito sales declined from 7 in ’10 with a median sales price of $3.3 million to 5 in ’11 with a median sales price of $3.15 million.

On the East Side of Santa Barbara sales fell dramatically from 21 in ’10 to 8 in ’11. But, those 8 sales this year had a median sales price of $1.4 million compared to those 11 sales last year that had an $849,500 median sales price. On the West Side of town the sales are way up over last year however rising from 8 in ’10 to 17 in ’11 but the median sales price fell from $738,750 last year to $730,000 this year.

In Hope Ranch there has been 1 sale this year for $1.6 million and last year there were 2 sales with a median and average sales price of $3,582,125. For Goleta South sales have fallen from 8 last year to 5 this year. But the median sales price has gone up from $546,000 last year to $707,500 this year and in Goleta North sales are up with 9 in ’10 and11 in ’11. But, the median sales price has gone way up from $674,000 last year to $900,000 this year.

Sales this year are starting out substantially below where they were in 2010 but the escrows for all the Districts are up from where they were last year plus the median list price on those escrows is up for all the Districts except Goleta North and South. After seeing sales rise for the last three months of 2010 and then falling back a lot in January 2011 with the numbers of escrows that have opened in January activity should return to the 2010 level.

The condo market in Santa Barbara also experienced a dramatic decline in sales in January 2011 going from 25 in December to 16 in January 2011. The numbers of sales was also below January 2010 when there were 21 closings. The median sales price also continued to increment down falling from $422,500 in November to $415,000 in December down to $382,000 in January. But, at least the median sales price for January ’11 was ahead of where it was in January ’10 when it was $375,000.

Unlike Homes however the opened escrows declined from the previous year except for Goleta North which had one more property start the buying process than occurred in 2010. In the past three months escrows went from 31 in November with a median list price of $399,000 to 18 in December with a median list price of $450,000 then stayed at 18 for January with the median list price sliding back to $420,000.

With only 16 sales for the month and 9 of those in the $350,000 to $500,000 range it looks at this time like condo prices are continuing to increment down. There were 2 sales in the $850,000 to $999,999 range but nothing over the $1 million mark which had seen a substantial increase in activity in the past few months.

There were 44 “new listings” in January with a median list price of $499,000 but the overall inventory remained at around the mid 140 level with a median list price of about $575,000 and an average list price of approximately $780,000.

Looking at the Districts, sales for Carpinteria/Summerland were the same with 5 in ’10 and 5 in ’11 but the median sales price went up slightly from $330,000 to $350,000. Escrows went up from 4 to 5 but the median list price on those escrows dropped from about $400,000 last year to $348,300 this year.

In Montecito there was 1 sale in each year with the 2010 offering going for $1,050,000 and the 2011 property selling for $890,000. Last year there were 2 escrows at this point with a median list price of $1.2 million and this year the one escrow has an asking price of $998,000.

On the East Side of Santa Barbara there were 7 sales last year compared to 3 this year but the median sales price rose from $310,000 to $450,000. The numbers of escrows are also down from 3 to 2 and the median list price on those escrows is down from $435,000 last year to $369,900 this year.

The West Side of Santa Barbara is down 1 sale from 2 to 1 this year and the median sales price is down from $443,000 in ’10 to $315,000 for that one sale this year. Escrows are way down however dropping from 7 to 2 with the median list price on those escrows remaining basically stable slipping from $434,900 to $420,000.

Sales are the same in both years in Goleta South with 3 in both years but the median sales price declined from $465,000 to $335,500. The numbers of escrows are up however going from 3 to 4 with the median list price on those escrows rising from $259,000 in 2010 to $375,950 in 2011.

Goleta North sales are up by one going from 3 to 4 but the median sales price has dropped from $459,000 to $382,000. The numbers of escrows are the same however with 3 in both years with the median list price on those escrows going up from $228,100 last year to $479,000 this year.

For the overall Santa Barbara area, home sales while starting slowly look like they’ll return to the 2010 level with the median sales price remaining stable at about $850,000. Condos however look like the numbers of sales are going to decline as does the median sales price of those units that do sell.

-Gary Woods

The Stats are in. Looking back at 2010.

Here's the latest housing statistics in Santa Barbara. For more information on the housing market visit my website by clicking here.

Santa Barbara Real Estate for all of 2010 compared to 2009 for Montecito, Hope Ranch, Santa Barbara, Goleta, Carpinteria and Summerland

For the greater Santa Barbara area including Carpinteria/Summerland, Montecito, Hope Ranch and Goleta, sales of single family residences finished 2010 about 7.6% ahead of where they were in 2009 just nosing over the 900 units sold mark. But, the median sales price was just barely ahead of the ’09 number finishing the year at about $850,000 only $5,000 up from ’09. The average sales price moved a little farther ahead however finishing the year at around $1.46 million up from $1.4 million in ’09. Escrows were also up for the year rising from 869 in ’09 to 922 for ’10 for a 6.1% rise and the median list price on those escrows, just like the sales price was within about $5,000 of the previous year finishing ’10 at $879,000.

After sales declined 6 out of the 7 months from April through October they started back up in November with 69 and December with 88. But, while the numbers of sales went up in December the median sales price went down, dropping from $865,000 in November to $778,500 in December. The numbers of escrows also declined in December from 76 in November to 63 in December. This slowing of sales activities usually occurs because the focus in the last month of the year turns to getting the open escrows closed rather trying to put new escrows together.

Looking at the Districts, Carpinteria/Summerland finished the year 9% ahead of the ’09 rate of sales rising from 73 in that year to 80 in ’10. But, the median sales price declined slightly dropping from $687,500 in ’09 to $675,000 in ’10 for a 2% dip. Montecito also had sales go up in ’10 rising from 143 in ’09 to 153 in ’10 for a 6% gain. But, the median sales price for the area remained basically at the previous year’s level rising slightly from $2.35 million to $2.375 million.

For Santa Barbara’s East Side, sales went up from 236 in ’09 to 244 in ’10 for a 3% rise and the median sales price rose from $885,000 in ’09 to $925,000 in ’10 for a 4.5% rise. But, after moving ahead of the previous year’s pace for most of the year, activity on the East Side looks like it’s slowing with escrows almost at exactly the same level they were at in ’09 and the median list price on those escrows dropping below the $900,000 mark coming in at the same price level as ’09.

Over on the West Side however, sales finished the year substantially ahead of where they were in ’09 rising from 152 to 196 for a 29% boost. The median sales price for the area is also up going from $743,000 in ’09 to $785,000 in ’10 for a 5.7% gain. The numbers of escrows is even farther ahead than the sales finishing the year with 217 up from 166 in ’09 for a 30% gain.

Hope Ranch finished the year almost exactly where it left ’09. There were 19 sales in ’09 and 21 in ‘10 but the median sales price dipped slightly from $2.335 million to $2,212,500 in ’10. The average sales price was way up however going from $3,276,575 in ’09 to $3,888,212 in ’10. This rise was due to some very high priced sales in the area.

Goleta South ended the year with 9.2% more sales activity than the previous year going from 87 sales in ’09 to 95 sales in ’10. The median sales price fell however dipping from $700,000 to $670,000 in ’10 for a 4.3% drop. But, sales in Goleta North dipped from the previous year going from 162 in ’09 to 157 in ’10 for a 3% decline while the median sales price remained exactly where it ended in ’09 at $705,000.

For condos in the greater Santa Barbara area the picture is not quite as rosy as the single family dwelling market. For the final 3 months of 2010 sales declined from 33 in October to 27 in November and down to 25 in December. The median sales price also dropped for those 3 months from $475,000 in October to $425,000 in November and down to $415,000 in December. The numbers of escrows also dropped substantially from November when there were 31 to 19 in December but the median list price on those escrows did come up from just under $400,000 in November to about $459,000 in December

The numbers of condo sales for 2010 were about the same as we experienced in 2009 rising ever so slightly from 319 to 324. But, the median sales price continued to decline dropping from $465,000 in ’09 to $434,000 in ’10 for a 6.7% drop. As the median sales price continues to decline it is getting closer to the ’02 level than it is to the ’03 level unlike single family home median sales price which have remained at almost exactly the same median sales price level we experienced in 2003.

Looking at the districts, Carpinteria/Summerland sales are 26% ahead of where they were in ’09 rising from 52 to 66. The median sales price has dropped however sliding from $430,000 in ’09 to $382,500 in ’10 for an 11% drop. Montecito condo sales finished the year at more than double where they were in ’09 rising from 11 to 26 and the median sales price was also up from $945,000 in the previous year to $1,075,000 in ’10 for an almost 14% rise.

For the East Side of Santa Barbara condo sales were also up from 56 to 67 for a 19% rise, but the median sales price fell from $529,900 in the previous year to $481,500 in ’10 for a 9.1% drop. The party may be over for the East Side however because escrows have dropped about 7% for the year falling from 68 in ’09 to 63 in ’10.

The West Side of Town had sales below the ’09 level dropping from 81 to 80 for a 1.2% decline and the median sales price dropped a little from $503,000 to $495,000 for a 1.6% dip. The numbers of escrows are also very close together for the area so things should remain at about the same level of price and activity.

Goleta South has experienced two rough years in a row. Sales dipped 31% for the area falling from 67 in ’09 which fell significantly from ’08 to 46 in ’10. The median sales price also fell dramatically from $450,500 the previous year to $375,000 in ’10 for almost a 17% decline. Across the freeway in Goleta North sales also fell but not quite as far. For ’10 there were 48 sales compared to 60 in ’09 for a 20% drop. But, the median sales price went up if ever so slightly from $395,000 in ’09 to $397,500 in ’10.

Sales of condos have been slowing through the last quarter of ’10 and at this point it looks like they’re going to continue in that direction. There has been substantial activity in the luxury condo market however with 4 sales over $1 million in December and several more in both October and November. The single family home market has also experienced a surge at the upper level with 5 sales over $5 million in December and 12 sales over $2 million.

The real boost in sales was in the below $1 million market where there were 56 sales up from 38 in the previous month. This rise in that sector is the reason the median sales price for the month tumbled to $778,500. Going into 2011 it look like the single family home market should remain strong with some upward pressure on prices below $1 million. The $1 to $2 million looks unsteady however while the over $2 million market has remained stable.

-Gary Woods

Santa Barbara's Real Estate Stats through July - Summary

If you would like to look at the entire Real Estate Statistical Report, visit NicoleByrnes.com

Santa Barbara Real Estate from Carpinteria to Goleta for July ‘10 including Montecito, Hope Ranch and Summerland.

For the Home Estate/PUD market of Santa Barbara, Montecito, Hope Ranch, Carpinteria, Summerland and Goleta sales rose in the month of July 2010 after declining from April to June. Going from 89 in April, 85 in May and 82 in June the numbers of sales rose to 84 for July. The median sales price slid slightly however to $871,250 from $915,000 the previous month but the average sales price rose from $1.2 million in June to about $1.5 million in July. The average days on the market that it took to get an accepted offer remained at about 75 for July which is down from earlier in the year when it was in the mid 80s.

The numbers of opened escrows for the month fell back to the low 80s where they've been for most of the year after rising to over 100 in June. But, the median list price on those escrows fell below $800,000 dropping from close to $900,000 the previous month while the average days on the market that it took to get those accepted offers continued at right around 70.

The inventory of houses listed for sale went up to around 680 for the month with approximately 165 new listings coming on the market. The median list price on those new listings was just below $1 million while the median list price of the overall inventory remained at about $1.575 million.

Looking at the first 7 months of '10 compared to '09 the numbers of sales are still dramatically ahead of where they were last year but the median sales price is starting to come back to what it was last year at this time after being ahead of last year's numbers for most of this year. The numbers of escrows for '10 are also still ahead of the '09 pace but the median list price of those escrows is declining to right about where it was last year after being above last year’s median list price most of the year.

Looking at the Districts, starting out in Carpinteria/Summerland the numbers of sales are still ahead of where they were last year with 38 compared to 35 but the median sales price of $675,000 this year finally fell below where it was last year when it was about $690,000. The numbers of escrows this year are way behind where they were last year so things are currently not looking very good for Carpinteria/Summerland home sales at this time.

For Montecito, there have been 79 Home Sales so far this year up from 71 last year and the median sales price is up from $2.25 million in '09 to about $2.5 million in '10. The escrows are also up from 84 to 93 this year but the median list price on those escrows has dipped slightly from $2.8 million last year to $2.75 million this year.

On the East Side of Santa Barbara home sales are way up from about 116 last year to 141 this year with the median sales price also up from $900,000 last year to $1 million this year while the average sales price is also up from $1.06 million in '09 to $1.24 million in '10.

On the West Side of Santa Barbara sales are also up from 96 last year to 112 this year with the median sales price rising from about $750,000 last year to $800,000 this year. The average sales price is also up from $835,000 last year to $950,000 this year and the escrows are way up from 107 in '09 to 135 in '10.

After being way ahead of last year's pace all year things have gotten quiet in Hope Ranch. There have been 11 sales so far this year compared to 8 last year and the median sales price is up from $2.35 million to just under $3 million. But, the numbers of escrows have fallen behind the '09 pace with only 1 home currently in escrow which is listed for $1.95 million.

For Goleta South the numbers of sales are still ahead of '09 with 63 this year compared to 48 last year but the median sales price has dropped from $705,000 in '09 to $665,000 in '10. The numbers of escrow are even closer with 55 in '09 compared to 62 this year but the median list price on those escrows for both years is right at $725,000.

On the North Side of Goleta sales are also up from 87 last year to 98 this year and the median sales price is up from $707,000 last year to $732,000 this year. The average sales price is also very close rising from $840,000 last year to $870,000 this year.

Up until this point the '10 numbers have been substantially ahead of the '09 numbers for sales as well as median and average sales price but that should start to change because the second half of '09 started to move forward and it looks like the second half of '10 is starting to pull back.

July marked the 3rd month in a row for declining condo sales. The numbers of sales having fallen from 37 closings in May to 34 in June down to 22 in July. The median sales price fell from May to June but leveled out in July going from $467,000 in May to $437,000 in June and stayed at about $436,000 in July. The average days on the market for those approximately 20 sales was rather brisk however coming in at 34 and the sales price to original list price ratio went up to over 95%.

The pended properties declined for the past 3 months dropping from 35 in May to 31 in June and to about 24 in July and the median list price on those pended properties dropped from $473,000 in May to $439,000 in June but came back up in July to about $479,000.

There were about 50 new listings that came on the market for the month with a median list price of about $480,000 and the overall inventory rose to about 155 available properties with a median list price of approximately $555,000 and an average list price of about $830,000.

Looking at the Districts, Carpinteria/Summerland sales are up from 26 to 39 this year while the median sales price continues to hover right around $390,000. Montecito condo sales are still way ahead with 12 compared to 2 last year but the median sales price for both years is right around $1.06 million.

On the East Side of Santa Barbara sales are up from 34 to 44 but the median sales price has dropped from $517,000 in '09 to about $465,000 in '10. The West Side of Santa Barbara also has sales above the '09 level with 46 this year compared to 36 last year and the median sales price is very close but dropping slightly from $505,000 last year to $495,000 this year.

Goleta South sales are down from 42 to 27 this year with the median sales price dropping from $455,000 to $355,000 and there are only 6 condos available for purchase in the area and the Goleta North sales show 25 for both years while the median sales price rose a little from $380,000 last year to $400,000 this year.

With sales of both homes and condos falling for the past few months and the median sales price for homes coming back to where it was last year at this time things could be cooling off for the last half of '10. The end of the first time buyer credit has brought sales down even though we still have record low interest rates. There are definitely buyers out there but getting them to commit at this time seems to be more difficult.

-Gary Woods

The May Santa Barbara Real Estate Stats are in!

My blog has been super neglected! It is a good thing though, it means I have been BUSY! I now have a moment to take a breather and therefore I bring you The Good, The Bad & The Ugly - May's RE Stats.

Santa Barbara Real Estate for January through May ’10 including Carpinteria, Summerland, Montecito, Hope Ranch and Goleta.

For May of 2010 for Santa Barbara, Montecito, Hope Ranch, Carpinteria/Summerland and Goleta the Home Estate/PUD there were 83 sales dropping from 89 in April. The April sales surge looked like it was going to keep going into May because of the substantial number of escrows that opened during April but sales fell back somewhat.

With the declining numbers of sales, the median sales price rose however from $865,000 in April to about $905,000 in May. This rise in the median sales prices was caused by sales below $1 million falling from about 50 in April to right around 45 in May. Accompanying that drop in sales below $1 million was a drop in the over $2 million sales falling from 18 in April to 10 in May. But, sales in the $1 to $2 million range rose from 19 to 28 for the month bringing up the overall median sales price.

There were about 85 Homes that went into escrow for May which dropped from approximately 120 opened escrows in April. But, the median list price on those escrows remained steady at around $880,000. The inventory grew about 10% for the month up to around 625 but the median list price on those properties for sale remained stable at about $1.7 million. The median list price on the more than 160 new listings that appeared during May did drop however down to roughly $1.1 million.

Looking at the Districts, starting out in Carpinteria/Summerland for Home Estate/PUDs, sales are up from 18 in ’09 to 29 in ’10 and the median sales price has gone up from $632,000 last year to about $850,000 this year. But, when you look at the pending listings they have dropped from 26 in ’09 to 24 in ’10 with the median list price for those escrows coming in this year at $679,000 compared to about $700,000 last year.

In Montecito sales are up from 44 in ’09 to 51 in ’10 with the median sales price rising slightly from $2.35 million to about $2.45 million this year. But, the escrows are way up this year from 45 in ’09 with a median list price of about $2.6 million to 58 in ’10 with a median list price of $2.5 million.

On the East Side of Santa Barbara sales are up from 70 last year to 98 this year with the median sales price going up from $910,000 last year to $951,000 this year. The pended listings are also up from 74 to 99 with a similar rise in the median list price for those opened escrows. For the West Side sales are also up from 58 to 70 with the median sales price rising from $775,000 last year to $810,000 this year.

In Hope Ranch sales are up from 5 in ’09 to 10 in ’10 with the median sales price going up from $2.55 million last year to $3.23 million this year. The average sales price is also up from $2.55 million last year to $3.83 million this year soaring by almost $1 million.

In Goleta South sales are basically where they were last year going from 33 in ’09 and 37 in ’10 but the median sales price has declined from $690,000 last year to $630,000 this year. In Goleta North, sales are up from 51 last year to 68 this year with the median sales price coming up only slightly from $715,000 in ’09 to $722,500 in ’10.

With the first time buyer credit coming to an end in April the sales below $1 million took a hit but sales above $2 million also fell off. With the rise in the numbers of sales from $1 to $2 million the Price Range Statistic ratios more closely resemble what we’ve been used to seeing in Santa Barbara. But, if we are to continue moving forward the sub $1 million sales will have to remain robust also. Of the almost 625 current Home listings only about 250 of those are below $1 million so that segment of the inventory needs to grow in order for the market to continue expanding.
For condos in Santa Barbara for the month of May ’10 sales went up to 35 from 32 in April and 27 in March and the median sales price rose to $495,000 for the month up from $456,000 in April and $415,000 in March. But, what didn’t go up was the numbers of escrows which rose from 35 in March to 40 in April and rose to 42 in May. The median list price on those escrows remained stable however at around $475,000 for May but up from March when that number was about $440,000.

The inventory also did not go up however remaining at around 150 condos for sale from Carpinteria to Goleta with the median list price on those properties continuing to hover around $625,000. There were only 34 new listings that came on the market during May to replace the 35 sold listings but they came on the market at a good number with a $499,000 median list price.

Of the 35 properties that sold, 15 of them were at $500,000 and over with 3 over $1 million and 2 of those over $2 million, while 1 condo sold just below $1 million. This surge in the over $500,000 market is a return to the sales of more expensive condos which had declined substantially in the previous months.

Looking at the Districts, starting in Carpinteria/Summerland sales are double from where they were last year rising from 14 to 28 and the median sales price has come up a little going from $395,000 in ’09 to $401,000 in ’10. The pending numbers are also up going from 19 last year to 26 this year so the surge should continue in the area.

In Montecito sales are up from 1 last year to 8 this year with the median sales price at about $1.1 million and the average sales price close to $1.3 million up from $679,000 for the only sale last year. The trend should continue in Montecito with 11 opened escrows this year at a $1,050,000 median list price up from 1 escrow last year with a list price of $729,000

On the East Side of Santa Barbara sales are up from 19 in ’09 to 29 in ’10 but the median sales price has declined from $528,000 last year to about $460,000 this year. The pending numbers are a lot closer together with 29 opened escrows in ’09 compared to 33 in ’10 and the median list prices are also close together going from $525,000 in ’09 to $519,500 in ’10.

For the West Side of town there are 33 sales this year compared to 19 last year but the median sales price has dropped from $520,000 last year to about $465,000 this year. The escrows are also way ahead of where they were last year with 40 opened this year compared to 25 last year and the median list price on those escrows is very close falling from $525,000 in ’09 to $515,000 in ’10.

In Goleta South there were 21 sales in both years but the median sales price has dipped from $410,000 last year to $355,000 this year. The escrows are way behind however with 35 last year compared to 25 this year and the median list price on those escrows has dipped from $419,000 last year to $339,900 this year.

For Goleta North there have been 16 sales this year compared to 14 last year with the median sales price rising from $360,050 in ’09 to $405,000 in ’10. The escrows show a slight bulge this year with 25 compared to 21 last year and the median list price on those escrows has risen from $365,000 last year to $419,000 this year.

Condo prices are starting to rise and as long as fewer properties come on the market than sell the inventory will continue to decline which should push prices up further. So the questions are, with the first time buyer credit coming to an end in April will the surge in condo sales continue, and second if prices do continue to go up will that spur the sellers to bring their properties onto the market?

-Gary Woods

Sustainable Real Estate Newsletter & Real Estate Stats

Click Here for your monthly Sustainable Real Estate newsletter.

A sneak peek as to what this month's articles include:

* TAX CREDITS!!!! (Time is running out!)

- You may qualify for the $6500 "Move-up Buyer" tax credit.

The Stats are In!

* For more information and YTD statistics click on the link above and open the article

"Santa Barbara Area Statistics."

* You can also view a more detailed report with graphs at NicoleByrnes.com and click on "monthly market real estate stats"

A quick summary of what happened in the month of February 2010:

- Median Sale Price = $795,000

- This is the same median sale price as in 2003

- Median List Price for sold properties is $829,00

- This is a 96% INCREASE from February 2009.

Highest price sold property:

$12,943,000 - 1169 Hill Rd in Montecito

Lowest priced sold property:

$374,325 - 5694 Alondra in Goleta

* There are New Rules for FHA borrowers

* Want to switch to Compact Flourescent Lightbulbs (CFLs)?

-According to the EPA, in 2007, Americans saved $1.5 billion by switching to ENERGY STAR-qualified CFLs.

-Now there's a variety of CFLs to choose from; everything from dimmer bulbs, to ones

for your chandelier. CHECK IT OUT!

P.S. Don't forget to "Spring Forward" this Sunday March 14th. Day Light Savings!