Through the middle of August 08 for Montecito Real Estate weve seen 99 Home Estate/PUDs compared to the 07 mark of 127. The decline in the numbers of units sold is balanced off by the huge rise in the average sales price which is up to about $4.6 million from $3.5 million last year. The median sales price is also up but by not nearly as much. This year the median number is $3.5 million and last year it was $2.8 million. Both median and average sales prices have definitely taken a substantial rise. What hasnt moved in Montecito is the days on the market which stood at 105 days last year and has zoomed down to 103 days this year.
For Condominiums in Montecito Real Estate there have 11sales this year which is down from the 07 number of 19. Sales keep inching forward for Condos in Montecito but inching is definitely the right word. Meanwhile everything else remains at almost exactly where it was last year. The average sales price is within $9,000 of where it was last year and the median sales price is up by just over $100,000. Even the days on the market are pretty darn close posting a 93 for this year compared to 103 last year.
Posted by gandlwoods at August 29, 2008 08:47 AM