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JULY 2010 SALES REPORT BROUGHT TO YOU BY |
Thank you for your continued interest in Richard Mann's monthly sales report newsletter. This newsletter contains a summary of all homes sold within Santa Barbara County during the past month. You can always view past newsletters at www.richardmann.com, in the section Tips and Guides for Montecito Buyers.
| MONTECITO | ADDRESS | BD | BA | ORIG LIST | LAST LIST | SOLD PRICE | % |
| Home/Estate | 1813 FERNALD POINT LN | 3 | 5 | $10,750,000 | $6,800,000 | $5,100,000 | 47% |
| Home/Estate | 1350 Virginia Rd | 2 | 1.5 | $1,195,000 | $880,000 | $880,000 | 74% |
| Home/Estate | 1567 SYCAMORE CANYON RD | 5 | 3 | $995,000 | $995,000 | $1,025,000 | 103% |
| Home/Estate | 2145 PIEDRAS DR | 4 | 5 | $4,650,000 | $4,500,000 | $4,200,000 | 90% |
| Home/Estate | 1030 HOT SPRINGS LN | 4 | 5.5 | $11,900,000 | $11,900,000 | $9,000,000 | 76% |
| Home/Estate | 751 VIA MANANA | 2 | 2 | $1,995,000 | $1,695,000 | $1,300,000 | 65% |
| Home/Estate | 349 PASO ROBLES DR | 3 | 4 | $1,995,000 | $1,950,000 | $1,800,000 | 90% |
| Home/Estate | 501 Hot Springs Rd | 5 | 5 | $2,950,000 | $2,750,000 | $2,375,000 | 81% |
| Home/Estate | 1115 HILL RD | 3 | 3 | $8,500,000 | $8,500,000 | $8,500,000 | 100% |
| Home/Estate | 665 San Ysidro Rd | 4 | 4 | $4,895,000 | $4,595,000 | $4,300,000 | 88% |
| Home/Estate | 1580 Ramona Ln | 3 | 6 | $3,995,000 | $3,995,000 | $3,975,000 | 99% |
| Home/Estate | 608 STONE MEADOW LN | 4 | 4 | $2,695,000 | $2,250,000 | $2,000,000 | 74% |
| Home/Estate | 180 SHEFFIELD DR | 3 | 3.5 | $1,874,800 | $1,846,800 | $1,760,000 | 94% |
| Home/Estate | 212 ALSTON ROAD | 5 | 4.5 | $3,395,000 | $3,395,000 | $2,800,000 | 82% |
| Condo/Co-Op | 35 SEAVIEW DR | 2 | 2 | $1,150,000 | $1,050,000 | $975,000 | 85% |
| Condo/Co-Op | 99 Seaview Dr | 2 | 2 | $1,599,000 | $1,599,000 | $1,610,000 | 101% |
| Home/Estate | 1205 HILL RD | 3 | 2.5 | $6,500,000 | $6,500,000 | $6,500,000 | 100% |
| HOPE RANCH | ADDRESS | BD | BA | ORIG LIST | LAST LIST | SOLD PRICE | % |
| Home/Estate | 4400 VIA ESPERANZA | 3 | 2 | $1,650,000 | $1,395,000 | $1,325,000 | 80% |
| CARPINTERIA/ SUMMERLAND |
ADDRESS | BD | BA | ORIG LIST | LAST LIST | SOLD PRICE | % |
| MOBILE HM. | 5750 via real 227 | 2 | 2 | $189,000 | $179,000 | $170,000 | 90% |
| Home/Estate | 1290 VALLECITO RD | 4 | 2.5 | $535,000 | $505,000 | $468,000 | 87% |
| Home/Estate | 5552 CALLE ARENA | 3 | 1 | $925,000 | $795,000 | $740,000 | 80% |
| MOBILE HM. | 3950 Via Real 235 | 2 | 2 | $155,000 | $130,000 | $130,000 | 84% |
| Home/Estate | 4445 LA TIERRA LN | 3 | 2 | $636,000 | $597,000 | $560,000 | 88% |
| Condo/Co-Op | 220 Elm 1 Ave | 1 | 1 | $389,000 | $389,000 | $345,000 | 89% |
| Condo/Co-Op | 5455 EIGHTH 16 ST | 3 | 2 | $420,000 | $420,000 | $385,000 | 92% |
| Condo/Co-Op | 4804 Sawyer Ave | 2 | 1 | $364,900 | $364,900 | $350,000 | 96% |
| Home/Estate | 2304 Shelby St | 2 | 1 | $595,000 | $595,000 | $525,000 | 88% |
| Condo/Co-Op | 1015 Palmetto C Way | 3 | 1.5 | $399,900 | $399,900 | $365,000 | 91% |
| WEST OF STATE | ADDRESS | BD | BA | ORIG LIST | LAST LIST | SOLD PRICE | % |
| Home/Estate | 101 SKYLINE CIR | 4 | 2 | $1,095,000 | $875,000 | $700,000 | 64% |
| Home/Estate | 1629 San Andres St | 3 | 2 | $650,000 | $549,000 | $500,000 | 77% |
| Home/Estate | 828 W Figueroa St | 3 | 2 | $595,000 | $670,000 | $640,000 | 108% |
| Home/Estate | 1056 W Valerio St | 2 | 1 | $725,000 | $725,000 | $635,000 | 88% |
| Home/Estate | 241 San Nicolas Ave | 4 | 3 | $1,395,000 | $1,369,500 | $1,330,000 | 95% |
| Home/Estate | 118 W ARRELLAGA ST | 3 | 1 | $820,000 | $699,000 | $625,000 | 76% |
| Condo/Co-Op | 1050 VISTA DEL PUEBLO 12 | 2 | 2 | $539,000 | $539,000 | $539,000 | 100% |
| Condo/Co-Op | 1078 Miramonte 1 Dr | 1 | 1 | $409,000 | $409,000 | $409,000 | 100% |
| Home/Estate | 231 Cottage Grove Ave | 2 | 1 | $420,000 | $324,900 | $265,000 | 63% |
| Home/Estate | 1146 Nirvana Rd | 3 | 2 | $2,175,000 | $1,995,000 | $1,912,947 | 88% |
| Condo/Co-Op | 953 Miramonte 2 Dr | 2 | 1.5 | $479,900 | $469,900 | $447,000 | 93% |
| Home/Estate | 855 MIRAMONTE DR | 3 | 2 | $1,699,000 | $1,699,000 | $1,699,000 | 100% |
| Home/Estate | 1710 Hillside Rd | 2 | 2 | $569,000 | $675,000 | $675,000 | 119% |
| Home/Estate | 1513 PORTESUELLO AVE | 4 | 2.5 | $1,195,000 | $1,195,000 | $1,150,000 | 96% |
| Condo/Co-Op | 19 La Cumbre Cir | 2 | 2 | $660,000 | $660,000 | $645,010 | 98% |
| Home/Estate | 2531 BORTON DR | 4 | 2 | $649,740 | $649,740 | $690,000 | 106% |
| Home/Estate | 702 Palermo Dr | 2 | 2 | $689,000 | $689,000 | $689,000 | 100% |
| Home/Estate | 1125 DEL SOL AVE | 4 | 3.5 | $1,795,000 | $1,795,000 | $1,600,000 | 89% |
| Home/Estate | 225 Salida Del Sol | 4 | 2 | $799,000 | $765,000 | $745,000 | 93% |
| Home/Estate | 1211 Plaza Del Monte | 4 | 3 | $1,190,000 | $1,190,000 | $1,180,000 | 99% |
| Condo/Co-Op | 222 W Yanonali St | 3 | 3 | $1,349,000 | $1,349,000 | $1,320,000 | 98% |
| Home/Estate | 826 Eucalyptus Ave | 2 | 1 | $615,000 | $615,000 | $625,000 | 102% |
| Home/Estate | 225 Loyola Dr | 4 | 2 | $815,000 | $815,000 | $815,000 | 100% |
| EAST OF STATE | ADDRESS | BD | BA | ORIG LIST | LAST LIST | SOLD PRICE | % |
| Home/Estate | 2595 Dorking Place | 4 | 2 | $1,495,000 | $1,295,000 | $1,230,000 | 82% |
| Condo/Co-Op | 231 Por La Mar Cir | 1 | 1 | $522,900 | $498,000 | $475,000 | 91% |
| Home/Estate | 140 Conejo Rd | 4 | 4 | $1,949,900 | $1,620,000 | $1,450,000 | 74% |
| Home/Estate | 3075 Paseo Tranquillo | 3 | 2 | $869,000 | $789,000 | $750,000 | 86% |
| Home/Estate | 281 Canon Dr | 3 | 2 | $1,200,000 | $1,150,000 | $1,100,000 | 92% |
| Condo/Co-Op | 263 POR LA MAR CIR | 2 | 2 | $1,200,000 | $1,150,000 | $950,000 | 79% |
| Condo/Co-Op | 1240 E YANONALI A ST | 3 | 2.5 | $476,900 | $476,900 | $525,000 | 110% |
| Home/Estate | 3202 LAUREL CANYON RD | 2 | 2 | $779,000 | $719,000 | $655,000 | 84% |
| Home/Estate | 1001 Cacique St | 2 | 3 | $449,900 | $449,900 | $452,000 | 100% |
| Home/Estate | 117 CANON DR | 3 | 3 | $1,280,000 | $1,280,000 | $1,200,000 | 94% |
| Home/Estate | 227 E PUEBLO ST | 4 | 4.5 | $2,895,000 | $2,895,000 | $2,825,000 | 98% |
| Home/Estate | 224 CANON DR | 4 | 3 | $1,195,000 | $1,195,000 | $1,050,000 | 88% |
| Home/Estate | 1602 Lasuen Rd | 3 | 2 | $1,625,000 | $1,625,000 | $1,360,589 | 84% |
| Condo/Co-Op | 1524 Olive 3 Street | 2 | 2.5 | $899,000 | $899,000 | $850,000 | 95% |
| Home/Estate | 1426 Alta Vista Rd | 4 | 2 | $1,495,000 | $1,495,000 | $1,400,000 | 94% |
| Condo/Co-Op | 410 Camino Del Remedio F | 0 | 1 | $199,000 | $199,000 | $207,000 | 104% |
| Home/Estate | 1215 E Cota St | 3 | 1 | $600,000 | $600,000 | $605,000 | 101% |
| Home/Estate | 1719 LOMA ST | 3 | 2 | $1,850,000 | $1,850,000 | $1,550,000 | 84% |
| Home/Estate | 1033 NEWTON RD | 4 | 3 | $1,250,000 | $1,250,000 | $1,250,000 | 100% |
| Condo/Co-Op | 138 EUCALYPTUS HILL CIRCLE | 3 | 2.5 | $1,395,000 | $1,395,000 | $1,310,000 | 94% |
| SB/GOLETA NORTH | ADDRESS | BD | BA | ORIG LIST | LAST LIST | SOLD PRICE | % |
| Home/Estate | 1100 REFUGIO RD | 3 | 2.5 | $9,300,000 | $8,250,000 | $7,325,000 | 79% |
| Home/Estate | 771 LA BUENA TIERRA | 4 | 4 | $1,645,000 | $1,387,000 | $1,304,682 | 79% |
| Home/Estate | 507 CALLE MASTIL | 3 | 2 | $795,000 | $795,000 | $765,000 | 96% |
| Home/Estate | 1406 TWINRIDGE RD | 4 | 2.5 | $1,699,999 | $1,699,999 | $1,610,000 | 95% |
| Home/Estate | 991 Via Campobello | 3 | 2 | $865,000 | $839,000 | $770,000 | 89% |
| Home/Estate | 570 Carlo Dr | 4 | 2 | $825,000 | $759,000 | $730,000 | 88% |
| Home/Estate | 1745 SAN MARCOS PASS | 4 | 2.5 | $975,000 | $975,000 | $1,330,000 | 136% |
| Home/Estate | 148 Gerard Dr | 3 | 2 | $739,000 | $645,000 | $640,000 | 87% |
| Condo/Co-Op | 5003 BIRCHWOOD RD | 2 | 2 | $449,000 | $449,000 | $425,000 | 95% |
| MOBILE HM. | 333 OLD MILL 125 RD | 2 | 2 | $189,000 | $189,000 | $159,000 | 84% |
| Home/Estate | 7700 Bradford Dr | 3 | 2 | $599,000 | $565,000 | $565,000 | 94% |
| MOBILE HM. | 333 OLD MILL 167 RD | 2 | 2 | $152,000 | $152,000 | $140,000 | 92% |
| Condo/Co-Op | 3 N San Marcos A Rd | 2 | 2 | $499,000 | $489,000 | $469,000 | 94% |
| Condo/Co-Op | 345 Moreton Bay 4 Lane | 2 | 2 | $364,500 | $364,500 | $364,500 | 100% |
| Home/Estate | 574 PINTURA DR | 4 | 2 | $629,000 | $629,000 | $617,000 | 98% |
| Home/Estate | 235 CAMBRIDGE DR | 3 | 3 | $679,000 | $679,000 | $679,000 | 100% |
| Condo/Co-Op | 281 MORETON BAY 2 LN | 1 | 1 | $319,000 | $319,000 | $310,000 | 97% |
| Home/Estate | 5385 Jean Ln | 3 | 2 | $895,000 | $895,000 | $867,500 | 97% |
| Home/Estate | 6548 Covington Way | 4 | 3 | $898,000 | $898,000 | $891,000 | 99% |
| Condo/Co-Op | 301 Moreton Bay 3 Ln | 3 | 2 | $459,000 | $384,000 | $369,000 | 80% |
| Home/Estate | 294 Salisbury Ave | 4 | 2 | $559,900 | $559,900 | $560,000 | 100% |
| MOBILE HM. | 333 Old Mill 9 Rd | 2 | 1 | $75,000 | $75,000 | $70,000 | 93% |
| Home/Estate | 7056 Madera Dr | 4 | 3 | $585,000 | $585,000 | $565,000 | 97% |
| Home/Estate | 484 ARANGO DR | 3 | 3 | $865,000 | $829,000 | $799,000 | 92% |
| Home/Estate | 520 Lado Dr | 4 | 3 | $699,000 | $699,000 | $725,000 | 104% |
| SB/GOLETA SOUTH | ADDRESS | BD | BA | ORIG LIST | LAST LIST | SOLD PRICE | % |
| Condo/Co-Op | 7606 Hollister 311 Ave | 2 | 2 | $449,000 | $369,000 | $380,000 | 85% |
| Home/Estate | 97 NECTARINE AVE | 2 | 1 | $260,000 | $260,000 | $270,000 | 104% |
| Home/Estate | 4533 HOLLISTER AVE | 4 | 2.5 | $1,195,000 | $1,095,000 | $965,000 | 81% |
| Home/Estate | 5177 SAN LUCAS WAY | 3 | 2 | $729,000 | $697,000 | $675,000 | 93% |
| Condo/Co-Op | 37 DEARBORN #80 PLACE, | 1 | 1 | $239,500 | $239,500 | $241,500 | 101% |
| Home/Estate | 6885 Fortuna Rd | 4 | 2 | $840,000 | $795,000 | $777,500 | 93% |
| Home/Estate | 217 NOGAL DR | 4 | 2 | $1,195,000 | $1,195,000 | $1,000,000 | 84% |
| Home/Estate | 524 WALNUT LN | 3 | 2 | $495,900 | $495,900 | $525,000 | 106% |
| Home/Estate | 998 Village Ln | 3 | 2 | $885,000 | $885,000 | $850,000 | 96% |
| Home/Estate | 505 High Grove Ave | 4 | 3 | $849,900 | $849,900 | $890,000 | N/A |
| Home/Estate | 672 San Fernando Dr | 3 | 2 | $555,000 | $555,000 | $575,000 | 104% |
| Condo/Co-Op | 5516 ARMITOS 65 AVE | 2 | 1 | $284,800 | $284,800 | $295,000 | 104% |
| SANTA YNEZ | ADDRESS | BD | BA | ORIG LIST | LAST LIST | SOLD PRICE | % |
| Home/Estate | 3356 Cimarron DR | 5 | 4 | $1,525,000 | $1,325,000 | $1,100,000 | 72% |
| MOBILE HM. | 147 VAL VERDE | 4 | 2 | $450,000 | $399,000 | $399,000 | 89% |
| Home/Estate | 3604 PINE ST | 3 | 3.5 | $575,000 | $575,000 | $545,000 | 95% |
| Home/Estate | 233 VESTER STED | 4 | 2.5 | $674,000 | $649,900 | $634,000 | 94% |
| Home/Estate | 3150 FIGUEROA MOUNTAIN | 4 | 3 | $995,000 | $995,000 | $920,000 | 92% |
| Home/Estate | 2560 Pommel Dr | 3 | 2.5 | $1,695,000 | $1,695,000 | $1,600,000 | 94% |
July 2010 Real Estate Analysis
By: Gary Woods
For the Home Estate/PUD market of Santa Barbara, Montecito, Hope Ranch, Carpinteria, Summerland and Goleta sales rose in the month of July 2010 after declining from April to June. Going from 89 in April, 85 in May and 82 in June the numbers of sales rose to 84 for July. The median sales price slid slightly however to $871,250 from $915,000 the previous month but the average sales price rose from $1.2 million in June to about $1.5 million in July. The average days on the market that it took to get an accepted offer remained at about 75 for July which is down from earlier in the year when it was in the mid 80s.
The numbers of opened escrows for the month fell back to the low 80s where they've been for most of the year after rising to over 100 in June. But, the median list price on those escrows fell below $800,000 dropping from close to $900,000 the previous month while the average days on the market that it took to get those accepted offers continued at right around 70.
The inventory of houses listed for sale went up to around 680 for the month with approximately 165 new listings coming on the market. The median list price on those new listings was just below $1 million while the median list price of the overall inventory remained at about $1.575 million.
Looking at the first 7 months of '10 compared to '09 the numbers of sales are still dramatically ahead of where they were last year but the median sales price is starting to come back to what it was last year at this time after being ahead of last year's numbers for most of this year. The numbers of escrows for '10 have slid slightly below the '09 pace and the median list price of those is declining to right about where it was last year after being above last year’s median list price most of the year.
Looking at the Districts, starting out in Carpinteria/Summerland the numbers of sales are still ahead of where they were last year with 38 compared to 35 but the median sales price of $675,000 this year finally fell below where it was last year when it was about $690,000. The numbers of escrows this year are way behind where they were last year so things are currently not looking very good for Carpinteria/Summerland home sales at this time.
For Montecito, there have been 79 Home Sales so far this year up from 71 last year and the median sales price is up from $2.25 million in '09 to about $2.5 million in '10. The escrows are also up from 84 to 93 this year but the median list price on those escrows has dipped slightly from $2.8 million last year to $2.75 million this year.
On the East Side of Santa Barbara home sales are way up from about 116 last year to 141 this year with the median sales price also up from $900,000 last year to $1 million this year while the average sales price is also up from $1.06 million in '09 to $1.24 million in '10.
On the West Side of Santa Barbara sales are also up from 96 last year to 112 this year with the median sales price rising from about $750,000 last year to $800,000 this year. The average sales price is also up from $835,000 last year to $950,000 this year and the escrows are way up from 107 in '09 to 135 in '10.
After being way ahead of last year's pace all year things have gotten quiet in Hope Ranch. There have been 11 sales so far this year compared to 8 last year and the median sales price is up from $2.35 million to just under $3 million. But, the numbers of escrows have fallen behind the '09 pace with only 1 home currently in escrow which is listed for $1.95 million.
For Goleta South the numbers of sales are still ahead of '09 with 63 this year compared to 48 last year but the median sales price has dropped from $705,000 in '09 to $665,000 in '10. The numbers of escrow are even closer with 55 in '09 compared to 62 this year but the median list price on those escrows for both years is right at $725,000.
On the North Side of Goleta sales are also up from 87 last year to 98 this year and the median sales price is up from $707,000 last year to $732,000 this year. The average sales price is also very close rising from $840,000 last year to $870,000 this year.
Up until this point the '10 numbers have been substantially ahead of the '09 numbers for sales as well as median and average sales price but that should start to change because the second half of '09 started to move forward and it looks like the second half of '10 is starting to pull back.
July marked the 3rd month in a row for declining condo sales. The numbers of sales having fallen from 37 closings in May to 34 in June down to 22 in July. The median sales price fell from May to June but leveled out in July going from $467,000 in May to $437,000 in June and stayed at about $436,000 in July. The average days on the market for those approximately 20 sales was rather brisk however coming in at 34 and the sales price to original list price ratio went up to over 95%.
The pended properties declined for the past 3 months dropping from 35 in May to 31 in June and to about 24 in July and the median list price on those pended properties dropped from $473,000 in May to $439,000 in June but came back up in July to about $479,000.
There were about 50 new listings that came on the market for the month with a median list price of about $480,000 and the overall inventory rose to about 155 available properties with a median list price of approximately $555,000 and an average list price of about $830,000.
Looking at the Districts, Carpinteria/Summerland sales are up from 26 to 39 this year while the median sales price continues to hover right around $390,000. Montecito condo sales are still way ahead with 12 compared to 2 last year but the median sales price for both years is right around $1.06 million.
On the East Side of Santa Barbara sales are up from 34 to 44 but the median sales price has dropped from $517,000 in '09 to about $465,000 in '10. The West Side of Santa Barbara also has sales above the '09 level with 46 this year compared to 36 last year and the median sales price is very close but dropping slightly from $505,000 last year to $495,000 this year.
Goleta South sales are down from 42 to 27 this year with the median sales price dropping from $455,000 to $355,000 and there are only 6 condos available for purchase in the area and the Goleta North sales show 25 for both years while the median sales price rose a little from $380,000 last year to $400,000 this year.
With sales of both homes and condos falling for the past few months and the median sales price for homes coming back to where it was last year at this time things could be cooling off for the last half of '10. The end of the first time buyer credit has brought sales down even though we still have record low interest rates. There are definitely buyers out there but getting them to commit at this time seems to be more difficult.
Gary Woods
LET US CREATE A CUSTOM MARKETING PLAN FOR YOUR PROPERTY
JULY 2010 SALES REPORT
BROUGHT TO YOU BY
RICHARD MANN
COLDWELL BANKER
(805) 689-5978
www.RichardMann.com
richard@richardmann.com
[%asset_178%]
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