For the Santa Barbara Real Estate area of Montecito Real Estate for the first month of ’09 in the Single Family Home market 6 homes closed escrow but the median sales price dropped to $1,719,500. This compares to ’08 when there were 8 sales but the median sold price was $5.375 million. There were 10 homes that went into escrow with a median list price of $2.32 million but when you figure in the 78% Sold Price to Original List Price Ratio you come up with a possible median sold price of about $1.8 million. 42 Home Estate/PUDs came on the market in ’09 with a median list price of $3.375 million compared to ’08 when there were 25 new listings with a median list price of $2.85 million. Currently there are 169 Home available for purchase in Montecito with a median list price of $4.35 million and average days on the market of 162.
For the Santa Barbara Real Estate area of Montecito Real Estate for the first month of ’09 in the Condo market nothing has sold and nothing went into escrow. This compared to last year when there was 1 sale for $1.75 million and 1 escrow for $2.45 million. There were 3 new condos that came on this year with a median list price of about $2.2 million compared to last year when there were 2 new listings with an average list price of just about $1 million. Right now there are 14 condos available for purchase with a median list price of just under $2 million and average days on the market of 142.