For the Santa Barbara Real Estate area of Montecito Real Estate for the first 4 months of ’08 for Home Estate/PUDs we’ve seen 54 sales compared to 71 for ’07. The Median Sales Price however has gone up substantially from $2,900,000 in ’07 to $4,530,365 in ’08. The numbers of escrows shows a similar gap. In ’07 we had 71 homes go into escrow compared to ’08 when we’ve seen 58 go pending. The numbers of homes that have come on the market this year are up from 114 in ’07 to 120 in ’08. The Median List Price for those homes is up slightly this year to $3.6 million compared to $3.2 million last year. The Days on the Market are relatively close with 100 this year compared to 113 last year.
For the Santa Barbara Real Estate area of Montecito Real Estate for the first four months for the condo market we have had only 4 sales compared to 12 last year. The Median Sales Price however is up to $2.1 million from $1.5 million last year. The Days on the Market are slightly ahead this year with 118 in ’08 compared to 130 in ’07. The numbers of condos going into escrow stands at 5 this year compared to 9 last year but the Median List Price of those condos that have gone into escrow is up substantially from $1.1million last year to $1.5 this year.