Santa Barbara Real Estate through the end of June ‘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 June 2014. For the Home Estate/PUD market sales fell for the month coming in with about 105 closings down from the 113 we saw in May. The Median Sales Price went from $1,175,000 in May to about $1,185,000 in June with the days on the market for sold properties staying steady at around 45 from the 48 we saw in the previous month. The opened escrows went up a little however from 100 in May to about 110 in June while the median list price on those escrows also went up a little to about $1,280,000 from $the 1,222,500 in May. There were about 135 new listings that came on the market in June with a median list price of approximately $1,180,000 and an average list price of about $2.156 million with the overall inventory didn’t move from 319 units for sale in May to 319 in June.
Year over year sales are down about 20% with the median sales price up to roughly $1,100,000 for a 22% rise. The average sales price is also up going from just over $1.4 million in 2013 to approximately $1.7 million in 2014 while the numbers of escrows are down about 20% but the median list price on those escrows is up over 20%
Looking at the Districts, Carpinteria/Summerland sales are down from 50 to 35 but the median sales price is up from $825,000 to $975,000. The numbers of escrows are also down from 60 to 44 with the median list price on those escrows rising from $857,262 last year to $1,102,500 this year.
For Montecito, sales are down going from 123 to 101 with the median sales price rising from $2,585,000 to $2.675 million. Escrows are also down going from 140 to 111 but the median list price on those escrows is up from $2.495 million to $2.95 million.
East of State St sales are down going from 166 in ’13 to 151 in ‘14 but the median sales price is up from $967,500 to $1,230,000. The escrows are also down going from 181 to 158 with the median list price on those escrows rising from $984,000 last year to $1,250,000 this year.
West of State St sales are down from 138 to 113 but the median sales price is up from $825,000 to $913,700. The numbers of escrows are also down with 153 in ’13 compared to 115 in ‘14 but the median list price on those escrows is up from $879,000 last year to $895,000 this year.
Hope Ranch sales are down from 19 to 15 but the median sales price is up from about $2 million to $3.25 million. The numbers of escrows are up however with 18 last year compared to 19 this year and the median list price on those escrows is up from $2.027 million in ’13 to $2.875 million in ‘14.
Goleta South sales are down with 61 last year and 42 this year but the median sales price is up from $699,000 to $750,000. The numbers of escrows are also down from 58 to 44 with the median list price on those escrows rising from $698,500 to $769,000.
Goleta North sales are down with 113 in ’13 and 78 in ’14 with the median sales price rising from $765,000 to $847,500. The numbers of escrows are also down from 112 to 96 with the median list price on those escrows going from $775,000 to $846,500.
***Courtesy of SBMLS