In the Top Ten!

And that's not the 'hit-parade" I'm talking about. Our local Newspaper's front page article, California has 6 out of ten homes in the top ten of most expensive cities to purchase a home in. Santa Barbara ranks 10th.

Following is the list of average list price for homes:

1. Newport Beach $1.83 million

2. Palo Alto $1.48 million

3. Rye, NY $1.33 million

4. San Francisco $1.33 million

5. La Jolla $1.21 million

6. Greenwich, Ct $1.20 million

7. Wellesley, MA $1.08 million

8. Pasadena $1.04 million

9. Honolulu $1.03 million

10. Santa Barbara $1.02 million

Amazing numbers! Local statistics show that our median price is basically been rolled back approximately six to seven years. The median sales price for the Santa Barbara area MLS was $777,000 for the month of August. Sales activity was up month over month for the first 7 months of 2010 over the first 7 months of 2009 with a slow down of pendings in August. The consensus seems to be that the end of the first time home buyer tax credit was the main reason for the slow down, even here in Paradise. It was a time when many of the locals were able to step into home ownership...often with the help of family finances, especially with historic low interest rates.

The Median Sales Price for Single Family Homes and PUD Homes (excluding all other property types) for the Santa Barbara MLS was $850,000 for year to date 2010 and the exact same $850,000 in the year 2003!