In the Montecito Real Estate area of Santa Barbara Real Estate for the Condo Market the total numbers of properties available through June 22nd is up by 2 for a total of 42. But the numbers that went into escrow has fallen from 8 in ’08 to just 1 in ’09. Also the Sales have fallen from 9 last year to just 1 this year with the average sales price going from $1,869,050 in ’08 to just $679,000 for the one sale this year.
In the Single Family Home market for the Santa Barbara Real Estate area of Montecito Real Estate the total number of listings is up by 23% for a total of 400 homes that have been available for purchase this year. But with the surge of listings the escrows are down by 29% with the numbers of sales even farther down by 42%. The average sales price has also fallen dramatically from about $4.9 million last year to just over $3 million this year.
For the PUD market in Montecito Real Estate there have been just 3 listings this year which is exactly the same number we saw last year. For ’08 we saw 1 escrow compared to none this year and 1 sale compared to none this year. The average sales price last year was about $2.5 million.