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Santa Barbara Connection Market Trends reports cover real estate market conditions in Santa Barbara and its surrounding areas and arm our clients with the most up-to-date information possible on sales prices, market statistics, economic background analysis and more.


Median Sales Price Jan 2011


Number of Sales Jan 2011

Santa Barbara Real Estate Sales Data - January - 2011:

Santa Barbara home sales during January 2011 for all Santa Barbara communities, including all neighborhoods of the city of Santa Barbara, Montecito, Hope Ranch, Carpinteria, Summerland and Goleta declined from the activity seen during the previous month of December 2010. This is typical as many buyers often scramble to close their purchases the last month of the year. January 2011 home sales amounting to 41 were well below the 88 sales in December 2010; and also below the 62 sales recorded a year ago during January of 2010. The good news is median sales price increased from $763,500 in January 2010 and from $778,500 in December 2010 to $829,300 in January 2011!

 

Home sales below $1 million experienced a sizeable drop from 56 sales in December 2010 to only 25 in January 2011. Home sales in the $1 to $2 million market also dropped from 20 sales in December 2010 to only 12 in January 2011. Home sales in the over $2 million sector dropped from 12 to 4 sales including only 1 sale above $5 million.

The number of newly opened escrows was also up from January 2010, which had 48 with an $825,000 median list price to 68 escrows for January 2011 with its median list price registering upwards at $850,000. This is particularly good news after experiencing 2 months of the median list price for escrows sinking into the $790,000 range. The median list price of escrows throughout the majority of 2010 and much of 2009 was at $850,000. This could indicate that at this time, further erosion in home prices may not be realized – potentially good news…we will continue to closely monitor. Please watch for next month’s posting.

 

New listings typically jump in January due to the re-listing of many ‘...

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Briefing Market Update

January 31, 2011
Market Action

 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.


January sales this year are starting out considerably below where they were in January 2010. After seeing sales rise for the last three months of 2010 and then falling back significantly in January 2011 activity should, however, return to the 2010 level due to the higher number of escrows that already opened this January.


 


 

 
 
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