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Montecito Gap Report for 1/1/15 to 5/10/15 for Santa Barbara Real Estate

Submitted by Gary Woods on Mon, 05/18/2015 - 12:30

For Santa Barbara Real Estate’s Montecito Real Estate area for the Home Estate/PUD market the sales figures through 5/10/15 there have been 64 sales compared to 58 last year for a +10.3% rise and the median sales price last year was $2.565 million and this year it’s is $2.981 million for a 16.3% rise.

The difference between this year’s median list price of $4.995 million and the median sold price of $2.981 million gives us a -40.3% gap and last year the median list price of $3.995 million and the $2.565 sales price gives us a -35.8% gap.

For the condo market in Montecito Real Estate through 5/10/15 there have been 15 sales compared to 4 last year for a 275.0% rise. The median sales price this year of $965,000 compared to last year when it was $880,000 giving us a 9.7% rise.

The difference between this year’s median list price of $1.735 million and the median sold price of $965,000 gives us a -44.4% gap and last year the median list price of $1.395 million and the $880,000 sales price gives us a -36.9% gap.