From 12/6/12 to 1/6/13 in Montecito Real Estate for the Home Estate/PUD market there have been 15 sales compared to 10 last year. The median sales price has come up from $1.85 million last year to $2.75 million this year while the average sales price went up from $1.814 million last year to $3.639 million. Those 15 sales took on average 159 days to get an accepted offer and when you add in another 47 days of average escrow time you get a total marketing time of 206 days.
For Condominiums for the same time period in Montecito Real Estate this year there have been 4 sales this year compared to 2 last year. The median sales price has gone down from $1,487,500 last year to $1,055,000 this year and the average sales price has gone down from $1,487,500 to $1,008,750. Those 4 sales took on average 85 days to get an accepted and when you add in another 23 days of average escrow time you get an average of 108 days of total marketing time.