Beautiful Santa Barbara Real Estate Blog

Santa Barbara Real Estate Days on the Market for Montecito plus a look at ’07 to ’06 through November 10

For the Santa Barbara Real Estate area of Montecito Real Estate through November 10 ’07 there have been 162 Home Estate/PUD sales and in ’06 that number was 147. The Median Sales Price for ’07 is up to $2,856,250 from last year’s number of $2,675,000 and the Original List Price ratio of 91.01 is almost exactly what it was in ’06 when it was 91.02. The Days on the Market have stretched out slightly from 95 in ‘06 to 104 in ’07 but I think waiting an extra 10 days to get an increase of $75,000 in the Media Sales price is worth the wait. So overall for Montecito Home Estate/PUDs the numbers of units sold is up and the median sales price is up.

For Condominiums in Montecito Real Estate the sales have almost double when looking at ’06 to ’07 but the Media Sales price has dropped by about $500,000. Last year the Median Sales price was $1,762,500 and this year it’s $1,250,000. The Sold Price to Original list price ratio is very close with 89.69 for ’07 vs. 92.66 for ’06. Similarly to Home Estate the Days on the Market are longer but unlike Home Estates that longer wait doesn’t translate into a higher price.