Through the middle of March 08 for Montecito Real Estate weve seen 28 Home Estate/PUD sales compared to 38 for 07. But the high end has really taken over in 08 tilting the Median Sales price up to $3,992,500 compared to $2,881.250 for 07. And the bulge for the Average Sales price is even larger where we see a $5,178,071 number posted for 08 compared to a $3,831,578 number for 07. For 08 its taken about 3 weeks longer to get an accepted offer but I think waiting 3 weeks more for more than a million dollars is a reasonable trade off.
For Condominiums in Montecito Real Estate there have been 2 sales compared to 10 in 07. The Median Sales price is a lot closer. In 07 that number was $1,500,000 compared to the 08 number of $1,555,000. The Average Sales price is also very close with a $1,555,000 number posted for 08 compared to a $1,666,000 number for 07. It has taken longer in 08 get an offer with the current Days on the Market being 162 compared to the 07 number of 149.
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