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May 2012 Average Sale Prices:
Montecito: $3,730,000
Hope Ranch: $1,900,000
SB East: $944,000
SB West: $778,000
Goleta: $705,000
Summerland/Carp: $1,420,000
Median Sale price dropped year over year (Jan thru May) from $810,000 to $795,000. The NUMBER of transactions completed in May was approximately 214- which just about rivals the number of deals done for the same timeframe in 2005. There are approximately 400 homes on the market now and market time is running at 66 Days On Market. Escrows are way up and the Title Companies are hiring again. With the low inventory, and high demand, list prices should start to move up. That's me, always thinking positive. |
