Is the median price in the South County now less than 1 million?
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Well, not really. So why did Barney Brantingham report in this weeks Santa Barbara Independent that the new median was $940,000? I am not sure. Nor is he entirely wrong: The median priced home in Santa Barbara for the month of July 2008 was indeed less than 1 million dollars. However, the median price for the year is still over $1,000,000, as was the median price every other month this year, including August.
Have prices dropped since last year? Of course they have. Did Barney cherry pick some data that he thought might make a headline? I can’t answer that, but you be the judge. Now don’t get me wrong, I like Barney and his column very much. But I think this is an example of how you can get statistics to say just about anything you want them too.