For Santa Barbara Real Estate in the Montecito Real Estate area there are 158 Home Estate/PUDs available so the inventory continues to grow. The average list price for a Home in Montecito stands at a whopping $7.3 million and even the median priced listing is about $4.45 million. Right at the top of the mountain is a property listed for $47 million but there are still bargains in Montecito with a property listed at $974,500 coming in at the bottom.
With the 158 listings we see that there are 23 Home Estate/PUDs currently in escrow with the average for the homes that are in the buying process showing up at $3.5 million. But even the median list price for the 23 homes is about $2.3 million with the highest priced property currently in escrow topping the charts with a $10.5 million asking price. Down at the other end of the scale is the least expensive Montecito property showing up just below $1 million at $999,000.
Through September 10, 2008 there have been 108 sales with an average sales price of an amazing $4.74 million and a median sales price of $3.5 million. The largest sale thus far in the year is $31 million but the least expensive property went out at just $900,000.
For the Condo market in Montecito Real Estate there are currently 20 properties available in the area with an average list price of right around $2 million but the median list price isn’t far behind standing at about $1.75 million. The most expensive condo on the market right now stands just below $5 million but the least expensive property can be had for just $755,000.
Right now only 2 of the 20 condos are in escrow with an average list price of right about $2.6 million and a median list price of $1.4 million. Zooming up the charts we find the most expensive property that’s in escrow right now is listed for $3.8 million but the least expensive property is still at a no un-substantial $1.4 million.
Through September 10th of 2008 there have been only 13 sales of condos in Montecito with an average sales price of $1.6 million and a median sales price of about $1.4 million. The highest priced condo which has closed this year sold for $4.3 million but the most inexpensive property went out at just $735,000.
Posted by gandlwoods at September 20, 2008 07:37 AM