From 1/1/09 to 4/9/09 in Montecito Real Estate for the Home Estate/PUD market there were 23 sales compared to 44 last year. The decline in the numbers of units sold goes together with the decline in the median sales price from about $3.8 million last year to about $2.55 million this year. The good news is it took just slightly over 3 months to get an accepted offer on those 23 sales and then only a little over 1 month to get them closed after that.
For Condominiums for the same time period in Montecito Real Estatenothing has sold this year and last year there were 3 sales with a median selling price of $1.75 million. The high end condo market for the entire Santa Barbara area has about crawled to a stop.
Posted by gandlwoods at April 19, 2009 08:16 AM