Summerland Real Estate In , What The Heck Happened?????

Looking at Homes and Estates and Planned Unit Developments for in Summerland versus , lets look at some of the numbers and see. In single family dwellings changed hands. Compare that to when properties moved. This translates to a decrease of about -% in the number of properties sold. An interesting number but not where near what happened in Carpinteria. So what about the List price of these properties? In the Median List price which is the one right in the middle of those properties went on the market for $,, and in the Median List price was $,, for a % increase in one year. For the Average price was $,, but in it went to $,, a % increase. This is an interesting phenomenon where the average list price and median list price are percentage wise so much different. It looks like in there were fewer expensive properties listed whereas in most of the properties have come in at about the same list price. Okay, the list prices were up in but what about the actual Sold Prices? The Median Sold price for was $,, and in it went to $,, for a % right at the percentage increase of Median List Price. The average price also increased greatly with coming in at $,, and showing up at $,, for an .% increase slightly in front of the % increase in the Average List price. So, sales are down about % but the Median Sales price continues to surge up % for the area. Digging deeper into the numbers we find some other interesting developments. In properties came on the market but in came on. So double the amount of properties came on the market in , but fewer sold. So what happened to all of those properties that didnt sell? Well, in got withdrawn as opposed to for . Cancelled in vs. for , and expired in as opposed to in . Currently in the Summerland Real Estate just like the Carpinteria market weve got an increased expectation on the part of sellers that their house is going to sell for a lot of money. Then if the property doesnt sell they withdraw or let the listing expire. So what happened in the Condo market? Just like single family homes the number of sales in the Condo market was down in . In there were properties that sold and in there were . That translates to a -% decrease in homes that sold, an even greater number than single family dwellings. But when dealing with such small numbers percentages mean less than when you have a larger sample. So what about the list prices? In the Median List price was $,, but in it went to $, for a % increase. And the Average List price went from $, to $, for a % increase. Okay, so the List Price went up. What about the sales price? In the Median Sales price was $, and in it was $, for a % increase. Not a bad return on your investment. And the Average Sales price went from $, in to $, in for an % increase. Again, lets look a little deeper at the numbers. Condos came on the market in Summerland Real Estatein vs. for . got withdraw in as opposed to in . cancelled in vs. in and expired in vs. in . So just like single family homes the number of sales was down vs. but the sales price was up about %. I guess the real question is what does that mean for the future? Well, all the economic blocks are still in a line. Weve got a pretty low inventory of homes to sell, but there are a substantial number of people looking to get into the market. Combine that will still very low interest rates and things look pretty good. If youve got a piece of paradise Id hold on to it, if youre looking to buy in the Summerland area Id recommend sooner rather than later. Well thats about it for Summerland Real Estate.