Santa Barbara Real Estate’s area of Montecito Real Estate for the Home Estate/PUD market there were 9 sales for the period of Oct. 27 to Nov. 27 with a median sales price of $2 million and an average sales price of about $2.8 million. Last year there were also 9 sales but the median sales price was $1.75 million and the average sales price was about $2 million. During that same time period in ’09 12 escrows opened with a median list price of about $2 million and last year 5 escrows opened with a median list price of about $3.2 million. For ’09 13 new listings came on the market with a median list price of about $2 million and in ’08 42 new listings showed up with a median list price of about $3.3 million. Right now there are 179 Home Estate/PUDs available for purchase in Montecito with a median list price of $3.75 million.
For the Condo market in Montecito Real Estate for the same period there were 4 sales this year with a median sales price of about $1.34 million and an average list price of $1.36 million. Last year there were 2 sales with a median sales price of about $1.5 million and an average sales price also of about $1.5 million. During that same time period there were 4 escrows opened with a median list price of $1.27 million and last year there was only 1 escrow opened with a list price of $2.495 million. For that time period there were 3 new condo listings this year with a median list price of $2.3 million and last year there were 4 new listings with a median list price of $2.65 million. Right now there are 12 condos for sale in Montecito with a median list price of $1.595 million.