From 1/1/14 to 8/3/14 in Montecito Real Estate for the Home Estate/PUD market there have been 118 sales compared to 134 last year. The median sales price has come up from $2.424 million last year to $2.797 million this year while the average sales price went up from $3.013 million last year to $3.711 million. Those 118 sales took on average 88 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 126 days.
For Condominiums for the same time period in Montecito Real Estate this year there have been 8 sales this year compared to 17 last year. The median sales price has gone up from $995,000 last year to $1,357,500 this year and the average sales price has gone up from $1,208,823 to $1,792,437. Those 8 sales took on average 85 days to get an accepted and when you add in another 34 days of average escrow time you get an average of 119 days of total marketing time.