July Santa Barbara Real Estate SnapshotL 7/6 - 8/4 2009

July 6-Aug 3, 2009

New listings: 212

Price Improvements: 276

Pending: 124 (breaks down: under $1million = 96, $1-2M = 22, $2-4M = 6, $4-8M = 3, $8M+ = 4)
Closed: 132 (breaks down to 4 per day in the month of July)
Off Market: 154
Back On market: 62

Months of Inventory as of end of July, 2009

Under $1million: 3.6 months

$1-2million: 9.4 months

$2-4million: 14 months

$4-8million: 13.6 months
$8million + : 75 active listings, 2 are currently pending
*These numbers are for single family houses only & do not include condos.

Standard Definitions:
0-3 months of inventory = seller's market

3-6 months of inventory = balanced market

6-9 months of inventory = buyer's market

9+ months of inventory = soft market