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Montecito Days on the market for 1-1-15 to 5-16-15 compared to the previous year

Submitted by Gary Woods on Mon, 05/25/2015 - 12:30

From 1-1-15 to 5-16-15 in Montecito Real Estate for the Home Estate/PUD market there have been 65 sales compared to 63 last year. The median sales price has come up from $2.465 million last year to $2.995 million this year while the average sales price also went up from $3.288 million last year to $4.42 million. Those 65 sales took on average 78 days to get an accepted offer and when you add in another 37 days of average escrow time you get a total marketing time of 115 days.

For Condominiums for the same time period in Montecito Real Estate this year there have been 15 sales this year compared to 5 last year. The median sales price has gone up from $910,000 last year to $965,000 this year and the average sales price has gone down from $1,690,000 to $1,417,321. Those 15 sales took on average 132 days to get an accepted and when you add in another 27 days of average escrow time you get an average of 159 days of total marketing time.