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6/14/11

Real Estate Statistics for Hope Ranch in Santa Barbara, CA

Hope Ranch continues to be one of the most desireable neighborhoods to live in Santa Barbara despite the recent downturn in home prices.  The following will be comparing the first six months of the year in 2010 to the first six months of the year in 2011. 

In the first six months of 2010 there were 9 sales in all of Hope Ranch.  The highest sale price was $7,350,000.  The lowest sale was $1,600,000.  The median sale price was $2,975,000 and the average sale price was $3,497,000.  The average days on market was 103 days.

This year the number of sales in Hope Ranch went up just a bit to 10 sales in the first six months.  The highest sale was down slightly to $7,200,000.  The low was down 19% to $1,300,000.  The median price in Hope Ranch was down 32% to $2,047,000 and the average price was down 9% to $3,213,000.  The average days on market, as to be expected, rose 16% to 122 days on market. 

What does this tell us?  Right around the same amount of homes are selling in Hope Ranch although prices have dropped.  The entry level home in Hope Ranch is more affordable than in the previous year and it is taking a little longer for homes to sell.  Many people are considering Hope Ranch to be a great buy these days considering all that it has to offer.  Lots start at a minimum of around 1 acre.  You have access to your own private beach.  The palm tree lined entry down Las Palmas Dr. bordering La Cumbre Country Club is hard to beat!  The privacy and serenity are not bad either.