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Montecito Real Estate for all of ’14 compared to all of ’13 for Santa Barbara Real Estate

Submitted by Gary Woods on Wed, 01/07/2015 - 13:30

For the Home Estate/PUD market in Montecito Real Estate in ’14 there were 192 sales compared to 209 in ‘13. The median sales price for ’14 was $2.7 million compared to ’13 when it was $2,400,000. There have been 187 opened escrows in ’14 compared to 211 in ‘13 with the median list price for those homes in escrow coming in at $2.95 million in ‘14 compared to $2,495,000 in ‘13. Right now there are 73 Home Estate/PUDs available for purchase in Montecito with a median list price of $4.995 million and average list price of $7.363 million.

Looking at the condo market for Montecito Real Estate there have been 17 sales in ’14 compared to 28 ‘13. The median sales price went from about $1,170,000 in ‘13 to $1,565,000 in ’14. In ’14 there were 19 opened escrows with a median list price of $1,749,000 compared to ‘13 when there were 27 escrows opened with a median list price of $1,245,000. Right now there are just 12 condos available for purchase in Montecito with a median list price of $1,225,000 and average list price of $1,434,833.