Santa Barbara Real Estate’s area of Montecito Real Estate for the Home Estate/PUD market there were 16 sales for the period of May 5 to June 5 ’09 while this year there have been 13 sales. The difference is last year the median sales price was $3.775 million and this year it’s just under $2 million. There are most escrows opened this year however with 17 compared to 12 last year but this year the median list price for those escrows is $2.13 million and last year it was $2.595 million. The surge of new listings is starting to slow down this year because for the time we’re talking about there were 31 new listings with a median list price of $3.3 million and last year there were 39 new listings with a median list price of $3.75 million. Currently there are 204 Home Estate/PUDs available for purchase in Montecito with a median list price of $3.775 million and an average list price of about $6 million.
For the Condo market in Montecito Real Estate there was 1 sale last year for the period we’re talking about and this year there have been none. As far as opened escrows is concerned last year there was also 1 for $2.35 million and this year there have been none. There are 3 new listings this year with a median list price of $895,000 whereas last year there were 4 new listings with a median list price of $729,000. Right now there are 23 condos available for purchase in Montecito with a median list price of $1.695 million and an average list price of $1.683 million.