Santa Barbara Real Estate’s areas of Montecito Real Estate for Home Estate/PUDs there were 5 sales with a median sales price of just under $2 million whereas in ’07 there were 10 sales with a median sold price of just over $3 million. During that time period 31 new properties came on the market with a median list price of $4.7 million compared to ’07 when 19 properties came on the market with a median list price of just $4.7 million. For ’08 12 properties went pending with a median list price of just under $3 million whereas in ’07 10 properties went pending with a median list price just under $4 million. Currently there are 176 Home Estate/PUDs in Montecito with a median list price of $4.45 million.
For the Condo market in Montecito Real Estate the sales are exactly where they were last year which isn’t too good. Both years had 1 sale but this year it was for $2.225 million and last year it was $765,000. This year 4 more condos came on the market with a median list price of just under $2 million but last year 2 came on the market with a median list price of $895,000. Unfortunately this year nothing went into escrow for the time period compared to last year when 2 went pending with a median list price of $799,000. Currently there are 16 condos are available in Montecito with a median list price of just under $2 million.