It’s time to pull out the old Crystal Ball, will the Market go Up, or will it Fall…Here are the numbers for Homes & Condos, from Carpinteria to Goleta, YTD (year to date).
April 2016 had a total of 104 Homes Sold. Total List Volume of those homes was $165,665,767. Median List Price was $1,197,000. Median Sold Price was $1,174,500. DOM (days on the market) was 70. The SP/LP (selling price to list price) was 94.83%.
April 2015 had a total of 94 Homes Sold. Total List Volume of those homes was $145,863,750. Median List Price was $997,500. DOM was 51. Total Sold Volume was $139,364,363. Median Sold Price was $975,000.
Pending sales are down by 7 from 2015. The Median List Price of those Pending though is up by $123,000. There were 45 Sales in the $150,000 to $1Million range. In the $1Million to $5Million+ range there were 57. The Highest Price was $6,000,000 for 630 Stonehouse Lane, Montecito, the lowest was $170,000 for 3 Manzanita Lane, deep in the backcountry a few skips from the the Santa Ynez River.
April 2016 Pending Condo Sales 46 with a Median List Price of $621,995. DOM 43 and counting. There were 27 Sales in the $400,000 to $1Million range and 7 in the $1Million+ range. The Highest Priced Condo was $1,700,000 at 53 Seaview Drive, Montecito and the Lowest was $400,000 at 39 Dearborn Place #94, Goleta.
As we head into the prime ‘selling season’ the market is definitely shaping up nicely. If you scan the charts clear trends emerge. Using a ruler one can see a strong base taking out lows (the crash) and highs (the bubble). Looking at 2012 > 2016 (4yrs.) Median sales prices have moved up from $775,000 to $1,250,000. Condos have jumped $200,000 in the same period. Tight inventory is driving everything, more so on the South Coast of Santa Barbara than almost anywhere else in the state.