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Montecito from 1/1/15 through 3/14/15 comparing ’15 to ’14 for the Santa Barbara area

Submitted by Gary Woods on Sat, 03/21/2015 - 12:30

In the Montecito Real Estate area of Santa Barbara for the Condo Market the total numbers of properties available through 3/14/15 is 18 compared to 12 last year for a 50% rise and the escrows are up with 5 last year compared to 6 this year for a 20% rise. There were 2 sales last year compared to 6 this year for a 200% rise and the average sales price has gone up from $820,000 to $1,837,500 for a 124% rise.

For Home Estates for Montecito Real Estate through 3/14/15 there have been 182 listings compared to 189 last year for an 3% drop but the escrows are up from 29 to 43 for an 48% change while the sales are up from 29 to 32 for an 10% rise. The average sales price is up from $3.189 million to $5.096 million for a 59% rise.

For the PUD market in Montecito there has been 3 listings this year compared to 2 last year and there have been 2 escrows compared to 2 last year and there have been 2 sales this year compared to 1 last year and those 2 sales had an average sales price of $1,800,000 while the 1 sold for $1,269,000.