For Santa Barbara Real Montecito Real Estate area for the Home Estate/PUD market the sales figures for 09 show 26% behind the sales figures of 08 with 88 sales currently completed. The median sales price has fallen about 20% from 08 down the current $2.6 million number.
The gap which is the difference between the median sales price and the median list price is 30% for 09 with a $3.7 million median list price compared to a $2.6 million median sold price. In 08 that gap was just 3% with a $3.6 million median list price vs. a $3.5 million medium sold price.
For the condo market in Montecito Real Estate theres been just 4 sales for the year compared to 13 last year for a 70% decline and the median sales price has fallen just about 50% down to $697,000.
The gap between the median sales price and median list price is 58% with a median list price of $1.65 million compared to that median sold price of about $700,000. In 08 the gap was 22$ with a $1.75 million medium list compared to a $1.4 million medium sales price.