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Santa Barbara Real Estate Market Update

By
Real Estate Agent with Kathleen Barnato, Your Santa Barbara & Montecito Connection

Santa Barbara Real Estate through the end of July ‘12 for Montecito, Hope Ranch, Santa Barbara, Goleta,
Carpinteria and Summerland.

This is an analysis of the Santa Barbara Real Estate market including Carpinteria/Summerland, Montecito, Hope
Ranch, downtown Santa Barbara and Goleta through the month of July 2012.

First, the Home Estate/PUD market, sales were approximately at the same level that we saw in June when there
were 129 sales, declining slightly to about 125; the median sales price also came in very close to the June number when it was $830,000 falling a bit to about $820,000. The escrows went up, however, from 116 in June to about 130 in July while the median list price on those escrows fell from $912,000 in June to about $810,000 in July.

The average days on the market for properties that sold during the month rose from June when it was 63 to over
80 in July. This rise is essentially due to the lack of inventory which has dipped below 380 properties from Carpinteria to Goleta, with a particular lack of homes for sale in that popular $500,000 to $700,000 range. This fact is illustrated by the rise in the median list price of available homes which has risen to over $2.2 million with a $3.875 million average list price.

 

Read the rest here: http://allthingssantabarbara.com/2012/08/23/santa-barbara-real-estate-market-update/

 

Santa Barbara Real Estate Market Update

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