For the Santa Barbara Real Estate area of Montecito Real Estatefor the first 2 months of ’09 there have been 12 sales compared to 23 last year. The median sales price has also fallen dramatically this year down to just under $3 million from the ’08 number of $4.2 million. We may be seeing a resurgence in the numbers of sales however because the pended listings are rising and currently stand at 21 compared to last year when they were 26. The median list price for those 21 pended listings for ’09 is about $700,000 below the number posted for last year. What is up in Montecito is the numbers of listings. This year there have been 72 new properties that came on the market with a median list price of $3.5 million compared to last year when there were 58 new listings with a media list price of about $3.3 million. Currently there are 173 listings available for purchase in Montecito with a median list price of about $4.2 million.
For the Santa Barbara Real Estate area of Montecito Real Estate for the first two months of ’09 not much has gone on. No sales have been rung up and only 1 property went in to escrow with a list price of $729,000. But last year there was only 1 sale with a price of $1.75 million and 1 pended listing with a price of $2.45 million. The new listings are way up however with 8 coming on this year with a media list price of $2.1 million compared to ’08 when there were 5 new properties with a median list price of just under $2 million. Currently there are 18 Condos available in Montecito with a median list price of just under $2 million.