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Hope Ranch Real Estate for the 1st half of 2003
| Unlike the rest of Santa Barbara the sales in Hope Ranch increased from last year. The sample is small, but there have been 12 sales this year as opposed to 10 last year at this time. The number of new listings is also up from 31 to 32 for this year. The real big jump is in the Average List Price. In 2002 the average list price was $2,736,000 and that has increased to $3,440,000 for this year, or an increase of 26%. The average sold price, $2,102,000 for 2002, however has not mirrored the dramatic increase for the average list price. For 2003 the average sold price is $2,388,000 or an increase of 14%. The median sales price therefore is up 13% from $2,050,000 for 2002 to $2,313,000 for 2003. The really good news for people selling their home in Hope Ranch is that the average days on the market has dropped from 104 for 2002 to 75 for 2003. |