For Santa Barbara Real Estate in the Montecito Real Estate area there are currently 127 Home Estate/PUDs on the market. The prices out in Montecito have taken a big jump this year and the average for active Homes stands at $5,854,196. There have been some very expensive homes on the market this year and currently the top figure is $47,000,000 and the least expensive into exclusive Montecito can be had for the low, low price of $1,100,000. Even so that gives us an active list median price of $3,975,000.
Currently there are 19 Home Estate/PUDs in escrow in Montecito with an Average List Price for those 19 standing at $4,602,052. The highest priced home that is currently in escrow stands at a $9,500,000 List Price and the lowest priced home in escrow is JUST $1,199,000. Even so the Median List Price for homes in escrow in Montecito is $3,750,000.
As of the first week in May 58 homes have closed escrow in Montecito which is about 20% behind last year’s number. Even though the numbers of sales is down all the rest of the numbers are up. The Average Sales Price for Montecito for the first half of ’08 is $4,801,719 with the highest priced listing closing at $21,000,000. Amazingly the least expensive Montecito home went out at only $900,000 but the Median Sales Price still stands at $3,625,000.
For Montecito Real Estate in the Santa Barbara area Condominiums there are currently19 available with an Average List Price of $1,947,473. The highest priced condo is currently at $5,900,000 for a property right on the water but the lowest priced listing can be had for a paltry $745,000. All of that brings us to a current Median List Price for the 19 properties of $1,695,000.
Currently there are only 2 condos in escrow in Montecito with an average list price of $$1,074,975. The highest priced condo in escrow is $1,350,000 and the least expensive condo is listed at JUST $799,950 giving us a Median List Price of $799,055 for the 2 condos in escrow.
As of the second week in May 5 condos have closed escrow in Montecito with an Average Sales Price of $2,248,300. The highest sale, again right on the water was $4,300,000 and the least expensive condo went out at $1,360,000. The Median sales price for the 5 Montecito Condos in ’08 has been $1,750,000.