For the Santa Barbara Real Estate area of Montecito Real Estate for the first 2 months of ’10 there have been 12 sales which is exactly how many occurred last year. But the median sales price has dropped about $1 million from approximately $3 million last year to about $2 million this year. But interestingly enough the average sales price has about doubled this year from $2.6 million last y ear to over $4 million this year. The new listings are down slightly from 70 in ’09 to 66 in ’10 but the escrows are up by 2 from 17 in ’09 to 19 in ’10. But the median list price on those 19 pending listings this year is about $1.8 compared to last year when it was $3.1 million. Right now there are 170 Home Estate/PUDs available for purchase in Montecito with a median list price of about $4 million and an average list price of about $5.6 million.
For the Santa Barbara Real Estate area of Montecito Real Estate for the first two months of ’10 there have been 3 sales compared to none last year. The median sales price on those 3 sales is $1,075,000 and the average is about $1.7 million. Both years had 8 new listings but this year there have been 4 open escrows compared to 1 last year. The median list price on those 4 is $1,075,000 and last year that one escrow had a list price of $729,000. Right now there are 15 condos available for purchase with a median list price of about $1.4 million and an average list price of $1.4 million.