For the Home Estate/PUD market in Montecito Real Estate there have been 114 sales through November of ’09 compared to 139 for the same period in ’08. The median sales price has dipped from $3.1 million last year to $2,475,000 this year with the average sales price falling from about $4.33 million last year down $3.4 million this year. The pended sales are a lot closer together going from 132 in ’08 to 122 in ’09 and the median list price for those properties is closer together with just over $3 million in ’08 down to about $2.7 million in ’09. So far this year there have been 338 new listings with a median list price of about $3 million and last year there were 351 new listings with a median list price of about $3.5 million. Right now there are 174 Home Estate/PUDs available for purchase with a median list price of about $3.7 million and an average list price of about $6.25 million.
Looking at the condo market for Montecito Real Estate there were 17 sales last year with a median sales price of $1.38 million and this year there have been 10 sales with a median sales price of $1,060,000. The average sales price is also rather far apart with a $1.68 million number posted for ’08 and a $1.15 million posted this year. So far in ’09 there have been 11 condo escrows opened and last year there were 15 and the median list price of those 11 this year have been just under $1 million compared to last year when the median list price was $1.55 million. So far this year there have been 37 new listings with a median list price of about $1.5 million and last year there were 36 new listings with a median list price of just under $1.6 million. Right now there are only 12 condos listed for sale in Montecito with a median list price of about $1.6 million and an average list price of about $1.72 million.