Santa Barbara Real Estate through the end of November ‘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 November 2014. For the Home Estate/PUD market the numbers of sales fell from the previous month to 72 in November dropping from 87 in October and 109 in September. The Median Sales Price also fell for the month to about $947,500 from $985,000 in October and $1,199,000 in September. The opened escrows also fell in November to about 75 from 107 in October and 81 in September while the median list price on those escrows rose from $949,000 in October to approximately $1,035,000 in November. There were roughly 70 new listings that came on the market in November with a median list price of just about $1.15 million and an average list price of around $1.8 million which left the overall inventory falling from 308 units for sale in October to about 280 in November.
Year over year sales are down about 17% with the median sales price up to about $1,130,000 for approximately a 21% rise. The average sales price is also up going from about $1.43 million in 2013 to approximately $1.73 million in 2014 for also a 21% rise while the numbers of escrows are down with 1,161 in ’13 to just over 1,000 in ‘14 with the median list price on those escrows up about 20% to approximately $1,150,000.
Looking at the Districts:
Carpinteria/Summerland sales are down from 99 to 79 but the median sales price is up from $852,500 to $925,000. The numbers of escrows are also down from 103 to 88 with the median list price on those escrows rising from $872,000 last year to $949,000 this year.
Montecito sales are down going from 212 to 195 with the median sales price rising from $2.424 million to $2.75 million. Escrows are also down going from 219 to 193 but the median list price on those escrows is up from $2.495 million to $2.95 million.
East of State Street sales are down going from 294 in ’13 to 273 in ‘14 but the median sales price is up from $967,500 to $1.195 million. The escrows went down from 306 to 282 with the median list price on those escrows rising from $1,037,500 last year to $1.199 million this year.
West of State Street sales are down from 255 to 210 but the median sales price is up from $877,000 to $970,850. The numbers of escrows are down with 272 in ’13 compared to 221 in ‘14 but the median list price on those escrows is up from $895,000 last year to $959,000 this year.
Hope Ranch sales are up from 29 to 32 and the median sales price is up from $2.056 million to $2.6 million. The numbers of escrows are up with 24 last year compared to 36 this year and the median list price on those escrows is up from $2.425 million in ’13 to $3.45 million in ‘14.
Goleta South sales are down with 108 last year and 76 this year but the median sales price is up from $730,000 to $750,000. The numbers of escrows are down from 94 to 75 with the median list price on those escrows rising from $710,000 to $749,000.
Goleta North sales are down with 199 in ’13 and 152 in ’14 with the median sales price rising from $795,000 to $846,000. The numbers of escrows are down from 194 to 163 with the median list price on those escrows going up from $796,500 to $845,000.
*****Courtesy of the SBMLS