From 1/1/13to 2/18/13 in Montecito Real Estate for the Home Estate/PUD market there have been 19 sales compared to 17 last year. The median sales price has come up from $1.738 million last year to $2.75 million this year while the average sales price went up from $2.489 million last year to $3.58 million. Those 19 sales took on average 122 days to get an accepted offer and when you add in another 51 days of average escrow time you get a total marketing time of 173 days.
For Condominiums for the same time period in Montecito Real Estate this year there have been 2 sales this year compared to 2 last year. The median sales price has gone down from $2,069,900 last year to $842,000 this year and the average sales price has gone down from $1,034,950 to $842,000. Those 2 sales took on average 4 days to get an accepted and when you add in another 23 days of average escrow time you get an average of 26 days of total marketing time.