MARCH 2010 MARKET REPORT

 

YEAR TO DATE STATISTICS: There were twenty-five single family homes sold in Santa Barbara last month a slight improvement over the twenty-three sales in February 2009. Resulting in a year-to-date percentage increase over 2009 in the number of sales of 35% a trend we would hope continues throughout the year. The median price of single-family homes sold last month was $795,000; last February it was $798,500. With those median sales prices it is interesting to note that currently there are only eight homes for sale in Santa Barbara priced $750,000-$850,000.

CURRENTLY IN SANTA BARBARA: The Multiple Listing Service reports 214 single-family homes listed for sale and that is once again a 15% increase from the previous month. The median asking price of homes for sale is $1,295,000. Fifty-seven (57) homes are in escrow with accepted offers; the median asking price of homes in escrow is $875,000. (41of the 57 homes in escrow have asking prices under $1,000,000.