From 12/8/09 to 1/8/10 in Montecito Real Estate for the Home Estate/PUD market there were 11 sales for both years. But this year the median sales price was $1.8 million compared to the previous year when it was $3.2 million. The average sales price differential was also substantial going from $4.22 million the previous year and sliding to $2.89 million this year. Those 11 sales this year took on average 207 days to get an accepted offer but then only an average of 30 days of escrow time adding up to 237 days of total marketing time.
For Condominiums for the same time period in Montecito Real Estate this year there was just 1 sale and the previous year had none. That one sale was for $655,000. The sale took 255 days to get an accepted offer and then another 44 days of escrow time add up to a total of 299 days of total marketing time.
Posted by gandlwoods at January 13, 2010 07:59 AM