Beautiful Santa Barbara Blog

Month by Month Look Comparing ’06 to ’07 for Santa Barbara Real Estate in Montecito

The year 2007 started off with a bang for Home Estate/PUDs in Montecito Real Estate. The year began off slightly behind ’06 with a 6% decline for January. February saw exactly the same numbers of sales as occurred in the previous year and March had a 5% increase. In April we saw a huge rise however. Almost 93% above where we were in ’06 for the same month. We cooled off in May showing exactly the same number of properties closing escrow as the previous year. June edged forward with a 7% increase followed by July with an 18% rise. But August slid back with a 6% decline followed by a 23% drop off in September. The Median sales price was trending down in 4 months and up in 5. Starting in January there was a 32% increase but February saw a 39% decline. March came back with an 18% rise followed by a whopping 72% increase for April. May fell off 10%, but June came right back with a 30% increase. July fell 17% followed by a 23% drop for August. In September we saw a slight rise by about 5%. The numbers of sales is about where it was last year at this time, but the Median Sales price continues to go up.

On the condo side for Montecito Real Estate it’s a different picture. Every month except March had more sales than 2006. Starting off with January we had a 400% rise, then a 50% gain for February. March saw a drop of 33%, but April had a 100% increase, May a 300% increase, June another 100% increase and July yet again a 100% increase. August saw no sales at all for either ’06 or ’07, but September finished strong with another 100% increase. The Median Sales price split right down the middle. Four months up, four months down and one exactly where we were last year. The up months were January with a 6% increase, February with a 30% rise, June with a 39% adjustment and July with a 100% climb. The down months were March with a 20% drop, April falling off 44%, May with a 67% decline and September with a 57% turn down. All in all the numbers of sales is way up but the Median Sales price is just about flat from last year.

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