From 1/1/13to 10/4/13 in Montecito Real Estate for the Home Estate/PUD market there have been 174 sales compared to 169 last year. The median sales price has come up from $1.85 million last year to $2.424 million this year while the average sales price went down from $3.152 million last year to $3.057 million. Those 174 sales took on average 93 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 131 days.
For Condominiums for the same time period in Montecito Real Estate this year there have been 23 sales this year compared to 18 last year. The median sales price has gone down from $1,102,500 last year to $995,000 this year and the average sales price has gone up from $1,083,066 to $1,286,086. Those 23 sales took on average 61 days to get an accepted and when you add in another 28 days of average escrow time you get an average of 89 days of total marketing time.