For the Home Estate/PUD market in Montecito Real Estate the numbers of sales went from 122 in 08 down to 93 this year with the median sales price dropping from about $3.4 million to $2.6 million. The average dropped about $1 million from $4.6 million to $3.6 million. The pending properties are a lot closer together with 119 showing up last year compared to 105 in 09 and the median list price for those properties is closer together with $3.2 million last year compared to $2.8 million this year. But the sales price to original list price ratio in 09 was a robust 90%+ and this year its below 80%. Currently there are 204 Home Estate/PUDs available for purchase in Montecito with a median list price of $3.8 million and an average list price of over $6 million. The average days on the market for those 204 homes are 169.
Looking at the condo market for Montecito Real Estate there have been only 4 sales through September compared to 14 last year with the median sales price dropping from $1.37 million last year to below $700,000 this year. The average sales price fell from $1.6 million in 08 to about $860,000 this year. The escrows are a little closer together with 14 last year with a median list price of $1.4 million compared to 6 this year with a median list price of $800,000. The sales price to original list price ratio went from 88% last year to the current 82% and currently there are 18 condos available for purchase with a median list price of $1.6 million and an average list price of $1.7 million. The average days on the market for those 18 condos in Montecito are just under 200.
Posted by gandlwoods at October 7, 2009 09:04 AM