Santa Barbara Real Estate’s area of Montecito Real Estate for the Home Estate/PUD market there were 9 sales for the period of December 24th ’08 to January 24th ’09 with a median sales price of $2.5 million. For the previous year there were 6 sales but the median sales price was a whopping $5.2 million. During that same time period there were 33 new listings that came on the market with a median list price of $3.795 and last year for the same period there were 24 new listings with a median list price of $2.85 million. This year we’ve seen 8 properties go into escrow with a median list price of $3.95 million and last year there were 13 escrows opened with a median list price just under $3 million. Currently there are 166 Home Estate/PUDs on the market in Montecito with a medina list price of $4.3 million and average list price of $7.27 million and days on the market of 134.
For the Condo market in Montecito Real Estate there were no sales for the period and nothin’ went into escrow. The previous year there was 1 sale for $1.75 million and 1 escrow opened with a median list price of $2.45 million. For both years 2 properties came on the market. This year the median list price was $1.75 million and last year it was about $1 million. Right now there are 13 condos available in Montecito with a median list price of about $2 million and days on the market of 138.