JULY 2010 MARKET UPDATE

BUYERS ATTENTION! If you have been waiting for the bottom of the market, you missed it; prices and activity continue to rise. Read on!
 
YEAR TO DATE STATISTICS: There were thirty-seven single-family homes sold in Santa Barbara last month bringing the total year-to-date sales to 252 compared to 208 for the same period in 2009(194 in 2008). The median price for the month of June was $1,075,000 resulting in a year-to-date median price of $915,000 compared to July 31, 2009 when the median price year-to-date was $865,000.
 
CURRENTLY IN SANTA BARBARA: The Multiple Listing Service reports 328 single family homes listed for sale; fifty-six of these homes are in escrow with a median asking price of $799,000. 
 
BOTTOM LINE: The trend continues,SantaBarbara single-family home sales are up 21% and median sales prices have increased six percent over the past year. 
 
SANTA BARBARA CONDOMINUMS: There are 91 condominiums for sale and 24 are in escrow; eleven sold last month with a median sales price of $539,000. This year there have been 90 condominium sales as of July 31st with a median price of $475,000. The first seven months of 2009 there were 72 sales with a median price of $515,000. Translation: Condo sales are up 25%, prices down 8%.
 
 

Occasional statistical inconsistencies exist because information may not have been received by the Santa Barbara MLS in a timely manner. Statistics do not include sales activity in Hope Ranch, Goleta or Montecito.
 
NOTE: If you would like to receive the this information monthly by email please contact Bruce@BruceArden.com subject: Monthly Mailing.