For the Santa Barbara Real Estate area of Montecito Real Estate for the first 2 months of ’07 in the Single Family Home market 22 homes closed escrow with a median sold price of $2,881,250 and an average sold price of $3,969,045. In ’08 20 homes closed escrow with a median sold price of $4,192,500 and an average sales price of $5,638,100. In ’07 57 homes came on the market with a median asking price of $3,450,000 and an average asking price of $5,446,998. In ’08 55 homes came on the market with a median listing price of $3,500,000 and ah average list price of $5,112,781. Also ‘07 32 properties went into escrow, 8 were withdrawn from the market, 12 listings cancelled, 27 expired and 18 came back on the market. For ’08 25 homes went pending, 12 were withdrawn, 4 cancelled, 23 expired and 17 came back on the market. Currently there are 121 homes for sale in the area with a median list price of $3,650,000 and an average list price of $6,399,578.
For the Santa Barbara Real Estate area of Montecito Real Estate for the first two months of ’07 in the Condo market 8 condos closed escrow with a median sold price of $1,500,000 and an average sold price of $1,729,375. For ’07 only 1 condo closed escrow with a sales price of $1,750,000. For ’07 11 condos came on the market with a median asking price of $1,369,000 and an average asking price of $1,505,727. For ’08 5 new condos came on the market with a median list price of $1,998,000 and an average list price of $1,530,000. Also for ‘07 7 properties went into escrow, 2 were withdrawn from the market, 2 listings cancelled, 5 expired and 0 came back on the market. For ’08 1 condo went pending, 0 were withdrawn, 2 cancelled, 4 expired and 0 came back on the market. Currently there are 14 condos for sale in the area with a median list price of $1,779,000 and an average list price of $1,936,282.
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