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Montecito Days on the market for 1-1-15 to 3-27-15 compared to the previous year

Submitted by Gary Woods on Sat, 04/04/2015 - 12:30

From 1-1-15 to 3-27-25 in Montecito Real Estate for the Home Estate/PUD market there have been 41 sales compared to 32 last year. The median sales price has come up from $2.232 million last year to $2.92 million this year while the average sales price also went up from $2.793 million last year to $4.443 million. Those 41 sales took on average 95 days to get an accepted offer and when you add in another 41 days of average escrow time you get a total marketing time of 136 days.

For Condominiums for the same time period in Montecito Real Estate this year there have been 6 sales this year compared to 3 last year. The median sales price has gone up from $850,000 last year to $1,225,000 this year and the average sales price has also gone up from $850,000 to $1,837,500. Those 6 sales took on average 175 days to get an accepted and when you add in another 43 days of average escrow time you get an average of 218 days of total marketing time.