Originally Summerland was a community of Spiritualists when it was founded in 1889. The Spiritualists terraced the streets which are still there today and built a temple where they held sances and contacted spirits Unfortunately for the Spiritualists they discovered oil in 1894 and soon there was a veritable forest of oil wells spurting off the coast. These days the oil rigs are several miles out into the channel so thing shave calmed down a lot. So where is Summerland' On the East it goes from the Padaro off ramp. On the West it extends to the top of Ortega Ridge Rd and includes all those wonderful new homes along Ortega Ridge. On the South Summerland Real Estate Starts at the Ocean and extends North East Valley Rd in Montecito.. Okay, so now we know where it is, whats been going on with Summerland Real Estate for the past year? Well, 10 homes have been sold excluding Condominiums which comes $17.485 million worth of real estate that changed hands. This gives us a pretty amazing $2.74 million average home price. But even the Median Price for Summerland Real Estate is almost $1.7 million. During the year 25 properties came on the market with a median asking price of $1.695 and an average asking price of $1.815 million. Currently there are 8 single family homes for sale with a median asking price of $1.495 million and an average asking price of $1.438. On the Condominium front there have been 3 sold this year accounting for $2.917 million worth of Real Estate. This gives us an average sales price of $972,000. The condos in Summerland extend from close to Lillie Ave. next to the freeway to well up into the upper levels of the area. 25 Condos have come on the market so far in 2005 with a median list price of $659,000 and an average list price of $879,000. Currently there are only 2 Condos for Sale in Summerland with an average asking price of $882,000 and a median asking price of $679,000. Well thats it from Summerland for now!!! |
