From 1/1/09 to 11/11/09 in Montecito Real Estate for the Home Estate/PUD market there have been 109 sales this year compared to 135 last year. With the numbers of sales falling the median sales price also fell from $3.2 million last year to $2.5 million this year. The average sales price also declined from $4.4 million to about $3.5 million. Those 109 sales took on average 107 days to achieve an accepted offer and when you add in another 32 days you get a total marketing time of 149 days on average.
For Condominiums for the same time period in Montecito Real Estate there have been 6 sales compared to 16 last year. The median sales price for that same period went down from $1.37 million to $830,000 and the average sales price fell even further from about $1.65 million to approximately $970,000. The average time it took to get an accepted offer for those 6 sales was 120 days and when you add in another average of 33 days of escrow time you get a total of 153 days of total marketing time.
Posted by gandlwoods at November 14, 2009 07:54 AM