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SB median prices decline

By   /   Saturday, October 18th, 2008  /   Comments Off on SB median prices decline

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Median home prices in the city of Santa Barbara fell below $800,000 for the first time in five years, a report by Equity Title and Keith Berry Real Estate showed.

The report for September said median prices in Santa Barbara were $790,000 based on 63 transactions. In September 2003 the median price was $750,000 and there were 107 transactions.

The latest prices for Santa Barbara are about 23 percent below the market peak of September 2005. Median prices other South Coast cities included Goleta at $580,000, Carpinteria at $645,000 and Montecito at $2.15 million.

Median prices for Goleta were below the September 2003 figure of $652,500 and 33 percent below the September 2005 peak of $867,000.

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