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Montecito Real Estate for the 1st, 11 Months of ’14 for Santa Barbara Real Estate

Submitted by Gary Woods on Tue, 12/09/2014 - 13:30

For the Home Estate/PUD market in Montecito Real Estate there have been 181 sales through November ’14 compared to 194 last year. The median sales price is up rising from $2,424,000 to $2,750,000. The average sales price is also up from $3,085,096 to $3,519,765. The numbers of escrows are down from 196 last year to 178 this year but the median list price on those escrows is up from $2.495 million last year to $2.91 million this year. There have been 298 new listings this year with a median list price of $3.297 million this year compared to 317 new listings last year with a median list price of $2.975 million. Right now there are 92 Home Estate/PUDs with a median list price of $4.995 million and an average list price of $7,111,605.

Looking at the condo market for Montecito Real Estate there were 16 sales this year with a median sales price of $1,160,000 and an average sales price of $1,795,125. Last year there were 27 sales with a median sales price of $1,115,000 and an average sales price of $1,344,296. There have been 18 opened escrows this year compared to 27 last year and the median list price on those escrows this year is $1,695,000 compared to last year when that median list price was $1,245,000. Last year there were 34 new listings with a median list price of about $1,322,500 compared to this year when there were 30 new listings with a median list price of $1.582 million. Right now there are12 condos available for purchase in Montecito with a median list price of $1,749,500 and an average list price of $1,696,833.