Gary Woods does a great job of compiling statistics on a monthly basis using the Santa Barbara Multiple Listing information and then sending them out to all the agents. He was also kind enough to do some comparisons of the last 4 years. I took some time to check them out and a few things jumped out at me. The number of sales is down 27% from 2004 in the Estate-PUD category year to date. The cancellation rate in the same category has more than doubled from 2004 but it is just up slightly from last year at 13.3%. All the while the median price is up for the last 4 years. As far as the condo market is concerned the number of sold properties is up 12% from last year. In both the Estate and Condo categories the number of listings is down from last year. I can remember a famous Santa Barbara Real Estate Professional by the name of Ed Heron saying "We have our best years when inventory is down". Well if the trend of less inventory continues we will be able to put Ed's thoughts to the test. See You In Escrow!
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