Wow! We’re halfway through the Year…and It’s Time to take a Close Look at the Market for Homes & Condos, from Carpinteria to Goleta YTD (year to date).
July 2016 had a total of 83 Homes Sold. Total List Volume of those homes was $158,747,943. Median List Price was $1,249,000. Median Sold Price was $1,210,000. DOM (days on the market) 69. The SP/LP (selling price to list price) was 90.11%.
July 2015 had a total of 126 Homes Sold. Total List Volume of those homes was $201,167,999. Median List Price was $999,000. Median Sold Price was $997,500. The SP/LP 98.12.
Sold Homes are down by 43. Pending Sales are up by 9. Median Sold Price of homes for July 2016 vs. July 2015 is up a whopping $212,500.
There were 31 Sales in the $250,000 to $1Million range. In the $1Million to $5Million+ range there were 52. The Highest Price was $8,000,000 for 269 Las Entrada Drive, Montecito; the lowest was 4979 Pebble Hill Lane, Goleta.
Active Listings are down -19.5% from this same time last year. Median L/P is up +5.5% from this time last year. Sold Properties are down -11.7% from last year. Total Sold Volume is down -16% from last year. The following two charts will put all this in an interesting perspective…
July 2016 had a total of 33 Condos Sold. The Total Sold Volume was $22,772,833. Median List Price was $599,000. Median Sold Price was $599,000. DOM was 55.
July 2015 had a total of 51 Condos Sold. The Total Sold Volume was $28,399,900. The Median Sold Price $527,500. DOM was 34.
The Highest Price Condo was $1,820,000 at 3375 Foothill Road, Carpinteria, 2 combined units in the Polo Fields. The Lowest Price Condo was $350,000 at 5966 Birch St, Carpinteria.
With More than Half the Year Under our Belts, the Year is Not Shaping Up like we Expected. The Market Started to lose some Steam in June and continued that Trend through July. Prices are Continuing to rise although not without a Battle from Buyers. Inventory has remained Tight with a Slight Loosening the first Ten Days going into August. We’ll have to see if that continues. My guess is it will remain tight through the current Election Cycle, at which point I expect a Flurry of Activity.
Is it a Good Time to Sell? If your home has been fixed up and shows great, and if it’s a single level you’ll have no problem selling quickly. Give me a call and I’ll give you a realistic selling price.
