From 1/1/13to 8/16/13 in Montecito Real Estate for the Home Estate/PUD market there have been 141 sales compared to 135 last year. The median sales price has come up from $1.85 million last year to $2.41 million this year while the average sales price went down from $3.346 million last year to $3.075 million. Those 141 sales took on average 95 days to get an accepted offer and when you add in another 38 days of average escrow time you get a total marketing time of 133 days.
For Condominiums for the same time period in Montecito Real Estate this year there have been 17 sales this year compared to 14 last year. The median sales price has gone down from $1,117,500 last year to $995,000 this year and the average sales price has gone up from $1,085,014 to $1,208,823. Those 17 sales took on average 72 days to get an accepted and when you add in another 32 days of average escrow time you get an average of 102 days of total marketing time.