Santa Barbara Real Estate’s area of Montecito Real Estate for the Home Estate/PUD market there were 12 sales from July 27 to August 27 with a median sales price of $2.33 while last year there were 13 sales with a median sales price of $4.1 million. The average sales price also declined from $5.56 million to $2.36 million. Last year there were 20 opened escrows with a median list price of about $3 million and this year there were 13 opened escrows with a median list price of $2.3 million. Right now there are about 190 Home Estate/PUDs listed for sale in Montecito with a median list price of $3.3 million and an average list price of $5.2 million.
For the Condo market in Montecito Real Estate for the same period there 1 sales this year for $825,000 compared to last year when there were 2 sales with a median and average sales price of $1,082,500. This year there was 1 opened escrow with a list price of $929,000 and last year there were 2 opened escrows with a median list price of $659,900. Right now there are 24 condos available for purchase with a median and average list price of $1.4 million.