May 2012 Market Trends:

 

May 2012 Average Sale Prices:

Montecito:                $3,730,000 Hope Ranch:            $1,900,000 SB East:                    $944,000 SB West:                   $778,000 Goleta:                      $705,000 Summerland/Carp:   $1,420,000

Median Sale price dropped year over year (Jan thru May) from $810,000 to $795,000. The NUMBER of transactions completed in May was approximately 214- which just about rivals the number of deals done for the same timeframe in 2005.  There are approximately 400 homes on the  market now and market time is running at 66 Days On Market. Escrows are way up and the Title Companies are hiring again.  With the low inventory, and high demand, list prices should start to move up. That's me, always thinking positive.

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