In the Montecito Real Estate area of Santa Barbara for the Condo Market the total numbers of properties available through 8/24/14 is 26 compared to 46 last year for a 43% decline and the escrows are down with 22 last year compared to 12 this year for a 45% fall. There were 20 sales last year compared to 9 this year for a 55% drop and the average sales price has gone up from $1,178,500 to $1,681,056 for a 42% rise.
For Home Estates for Montecito Real Estate through 8/24/14 there have been 380 listings compared to 424 last year for an 10% drop and the escrows are down from 172 to 151 for an 12% decline while the sales are down from 157 to 143 for an 8% fall. The average sales price is up from $3.093 million to $3.783 million for a 22% rise.
For the PUD market in Montecito there has been 5 listings this year compared to 2 last year and there has been 4 escrows compared to 0 last year. There have also been 2 sales this year compared to 0 last year and those 2 sales had an average sales price of $1,574,500.