Santa Barbara Area Sales Hitting Bottom?

January was very slow with respects to home sales in the Santa Barbara, Goleta, Carpinteria and Montecito areas.

Maybe even a record low. That is the lowest number I can remember, and I've been around since the mid 80's. The map below shows the sales that did occur. Feel free to check out your favorite neighborhood.

This would lead me to believe the bottom is here!

(Edited 2-27-09) For those of you that may have found this from this link; http://santabarbarasblog.com/?p=2816 I do appreciate you coming by. As for the folks who have commented on that blog let me clear the record about a couple things. I am not a realtor and never have been. I also think the number of transactions is what has hit bottom, not prices. I do believe that prices will take quite a bit more time to recover. Thanks for the exposure santabarbarablog.com.

If you don't believe the number of transactions will start to improve then how do explain what is going on in Santa Maria and Lompoc and across the rest of the state? The bottom of the market is certainly showing a higher number of transactions and I would think that will hit us on the south coast some time this year.