Santa Barbara Real Estate through the end of December ‘14 for Montecito, Hope Ranch, Santa Barbara, Goleta, Carpinteria and Summerland
SINGLE FAMILY HOMES: 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 December 2014. For the Home Estate/PUD market the numbers of sales rose slightly from the previous month to about 80 in December rising from 73 in November but down from the 87 we saw in October. The Median Sales Price also rose for the month going to about $990,000 in December from $945,000 in November and the $985,000 we saw in October. The opened escrows also remained stable in December going to about 74 from 72 in November but down from the 104 we saw in October while the median list price on those escrows rose from $1,010,000 in November to about $1,095,000 in December. There were approximately 59 new listings that came on the market in December with a median list price of approximately $1,295,000 million and an average list price of just about $2.075 million which left the overall inventory falling from 278 units for sale in November to roughly 220 in December.
Year over year sales are down about 17% from 2013 but the median sales price is up to about $1.12 million for approximately an 18.5% rise. The average sales price is also up going from about $1.4 million in 2013 to approximately $1.7 million in 2014 for another 18.5% rise while the numbers of escrows are down with about 1,230 in ’13 to roughly 1,070 in ‘14 for a 13% drop with the median list price on those escrows up about 18% to approximately $1.15 million.
Looking at the Districts:
Carpinteria/Summerland sales are down from 109 to 85 but the median sales price is up from $852,500 to $922,500. The numbers of escrows are also down from 105 to 93 with the median list price on those escrows rising from $865,450 in ‘13 to $949,500 in ‘14.
Montecito, sales are down going from 230 to 207 with the median sales price rising from $2.4 million to $2.7 million. Escrows are also down going from 237 to 204 but the median list price on those escrows is up from $2.49 million to $2.95 million.
East of State Street sales are down going from 317 in ’13 to 298 in ‘14 but the median sales price is up from $988,500 to $1,187,000. The escrows also went down from 321 to 301 with the median list price on those escrows rising from $1,025,000 in ‘13 to $1,200,000 in ‘14.
West of State Street sales are down from 280 to 231 but the median sales price is up from $872,500 to $961,000. The numbers of escrows are also down with 289 in ’13 compared to 236 in ‘14 but the median list price on those escrows is up from $895,000 in ‘13 to $950,000 in ‘14.
Hope Ranch sales are up however from 32 to 35 and the median sales price is up from $2.375 million to $2.812 million. The numbers of escrows are also up with 27 in ‘13 compared to 40 ‘14 and the median list price on those escrows is up from $2.572 million in ’13 to $3.195 million in ‘14.
Goleta South sales are down with 116 in ‘13 and 81 in ‘14 and the median sales price is down from $750,500 to $750,000. The numbers of escrows are also down from 101 to 84 with the median list price on those escrows rising from $719,000 to $749,000.
Goleta North sales are down with 215 in ’13 and 163 in ’14 with the median sales price rising from $793,500 to $844,000. The numbers of escrows are down from 202 to 179 with the median list price on those escrows going from $798,500 to $848,000.
***Courtesy of the Santa Barbara Multiple Listing Service