There’s been a lot written and said about how the numbers of Hope Ranch Real Estate sales are off when you compare them to 2004. Since it’s always a good idea to stand back and get a little perspective to see where we’ve been I thought I’d go back to 2000 and look at each subsequent year to today.
Okay, so looking at Hope Ranch Real Estate for 2000 from Jan. 1 through October 31 we see 19 sales with a median price of $1.8 million. The number of listings for the same time period was 25 with a median list price of $2.09. So there was roughly a 10% disparity between the list price and sales price.
For 2001 for the same time period sales were slightly slower with 18 properties closing escrow from 1/1 to 10/31. The median sales price dipped however down to $1.247 million. The real big number in 2001 was the number of homes that came on the market. 57 homes came on the market meaning twice at many houses as the previous year. When there’s more of something the price falls so that would account for the $1.2 million median sales price. But the original list prices for those 57 properties was $2.35 million a big difference.
So what happened in 2002 as far as sales were concerned? From 1/1 to 10/31 there were 23 houses that closed escrow. The median sales price at that time stayed pretty close to the 2001 level coming in at $1.3 million. The number of listings was 51 year to date for 2002 with a median list price of $2.59 million. That means from 2001 to 2002 sales and prices were pretty flat.
In Hope Ranch Real Estate for 2003 the number of sales rose slightly to 30 while the median sales price rose significantly to $2.077 million. The numbers of listings for that time period were off slightly at 49 and the median list price was about where it was in 2002 holing steady at $2.58 million.
Moving into 2004 what happened? Well in 2004 at that time we had 25 sales with a median sales price of $2.1 million. So sales dipped slightly from the previous year but the sales price inched up. On the listing side 56 properties came on the market and the median asking price zoomed up to $3.2 million. So once again number of sales, and number of listings are pretty close to what they were in the previous year, but both the sales and particularly the listing prices moved up.
Now in 2005 where are we with Hope Ranch Real Estate? Well sales are down by only 2 from 2004 for a total of 23 and the median sales price is only slightly ahead at $2.18. The numbers of listings are off to 41 but the median list price is up to a whopping $4.49.
So looking back from 2000 to 2005 we had 19, 18, 23, 30 and 25 sales respectively. This is really a pretty remarkable example of stability. The median sales price from 2000 to 2005 went, $1.8, $1.24, $1.3, $2.07 to $2.18 with the big jump coming between ’03 and ’04. So as far as Hope Ranch Real Estate is concerned the figures look pretty stable to me, and I certainly don’t see a bubble there.
Well that’s for all for now. http://www.Hope Ranch Real Estate.com
Gary Woods is a Realtor in Santa Barbara CA and he is the Trainer for the Santa Barbara Association of Realtors. He can be heard on Radio 1290 AM in Santa Barbara from 9-10AM Monday