Santa Barbara Real Estate’s area of Montecito Real Estate for the Home Estate/PUD market there were 14 sales from Jun 22 to July 22 with a median sales price of about $3.4 million. Last year there were 12 sales and the median sales price was $2.11 million. The average sales price also from $2.77 million in ’09 to $3.9 million in ’10. During that period there were 13 escrows opened this year with a median list price of $2.75 million while last year there were 14 escrows opened with a median list price of just under $4 million. Right now there are about 190 Home Estate/PUDs available for purchase in Montecito with a median list price of $3.45 million and an average list price of about $5.4 million.
For the Condo market in Montecito Real Estate for the same period there were 2 sales this year with an average and median sales price of $930,000 whereas last year there were no sales. During that same time period this year 1 escrow opened with a list price of $895,000 compared to last year when 1 escrow also opened with a list price of $795,000. Right now there are 22 condos available for purchase in Montecito with a median list price of $1.475 million and an average list price of $1.49 million.