For the Home Estate/PUD market in Montecito Real Estate there have been 107 sales this year compared to 131 last year. The median sales price has fallen from $3.3 million in ’08 to $2.5 million currently with the average sales price going down from about $4.5 million last year to $3.5 million this year. The pending listings have fallen from 127 in ’08 to 115 in ’09 with the median list price for those pending listings dipping from just over $3 million to just under $2.7 million. There are currently 196 Home Estate/PUDs available for purchase in Montecito with a median list price of $3.75 million and an average list price of just under $6 million.
Looking at the condo market for Montecito Real Estate there have been 6 sales for the year with a median sales price of $830,000 and an average sales price of about $950,000 compared to last year when the median sales price was $1.37 million and the average was about $1.65 million. There have been 7 pended listings this year with a median list price of $945,000 compared to last year when there were 14 pended listings with a median list price of about $1.4 million. Currently there are 15 condos available for purchase in Montecito with a median list price of $1.65 million and an average list price of $1.76 million.