Santa Barbara Real Estate’s area of Montecito Real Estate for the Home Estate/PUD market there were 12 sales for the period of Nov. 25 to Dec. 25 with a median sales price of just under $2 million and an average sales price of about $2.9 million. Last year there were 7 sales with a median sales price of $3.9 million and an average sales price of about $4.7 million. During that same period 8 homes went into escrow this year with a median list price of about $2.2 million compared to last year with there were 11 escrows opened with a median list price of about $3.4 million. In ’09 13 new listings showed up with a median list price of just under $3 million and last year there were 18 new listings with a median list price of about $3.5 million.
For the Condo market in Montecito Real Estate for the same period there were no sales this year and no sales last year. There was 1 escrow opened this year on a property listed at $3.325 million but no escrows opened last year. For ’09 4 new condo listings came on the market with a median list price of $768,000 compared to last year when 2 new listings came on the market with a median list price of $1.75 million. Right now there are 15 condos available for purchase in Montecito with a median list price of about $1.4 million.