For the Santa Barbara Real Estate area of Montecito Real Estate for the first month of ’07 in the Single Family Home market 13 homes closed escrow with a median sold price of $2,900,000 and an average sold price of $3,564,423. For ’08 9 homes closed escrow with a median sold price of $4,500,000 and an average sold price of $6,930,333. In ’07 37 homes came on the market with a median asking price of $3,822,000 and an average asking price of $5,801,918. In ’08 25 homes came on the market with a median asking price of $3,145,000 and an average asking price of $5,301,359. Also for ‘07 15 properties went into escrow, 4 were withdrawn from the market, 7 listings cancelled, 21 expired and 8 came back on the market. For ‘08 12 properties went into escrow, 4 were withdrawn from the market, 2 listings cancelled, 21 expired and 10 came back on the market. Currently there are 114 homes for sale in the area with a median list price of $3,585,000 and an average list price of $6,633,535.
For the Santa Barbara Real Estate area of Montecito Real Estate for the first month of ’07 in the Condo market 5 condos closed escrow with a median sold price of $1,475,000 and an average sold price of $1,377,000. For ‘08 1 condo closed escrow with a median sold price of $1,750,000 and an average sold price of $1,750,000. In ’07 7 condos came on the market with a median asking price of $1,895,000 and an average asking price of $1,764,142. In ’08 2 condos came on the market with a median asking price of $1,000,000 and an average asking price of $1,000,000. Also for ‘07 3 properties went into escrow, 1 was withdrawn from the market, 1 listing cancelled, 4 expired and 0 came back on the market. And for ‘08 1 property went into escrow, 0 were withdrawn from the market, 1 listing cancelled, 2 expired and 0 came back on the market. Currently there are 12 condos for sale in the area with a median list price of $1,779,000 and an average list price of $1,983,662.