Santa Barbara Real Estate’s area of Montecito Real Estate for the Home Estate/PUD market there were 10 sales for the period of February 20th to March 20th ’09 with a median sales price of $2.5 million. For the previous year there were 14 sales but the median sales price was a $2.695 million. During that same time period there were 36 new listings that came on the market with a median list price of $3.319 and last year for the same period there were 36 new listings with a median list price of $2.595 million. This year we’ve seen 9 properties go into escrow with a median list price of $3.495 million and last year there were 13 escrows opened with a median list price just under $3.1 million. Currently there are 192 Home Estate/PUDs on the market in Montecito with a medina list price of $3.895 million and average list price of $6.5 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 2 escrows opened with a median list price of $799,500. This year 9 properties came on the market with a median list price of $1.495 million and last year there 5 new listings with a $1.399 million median list price. Right now there are 25 condos available in Montecito with a median list price of $1.75 million and days on the market of 100.