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Montecito from 1/1/14 through 12/10/14 comparing ’14 to ’13 for the Santa Barbara area

Submitted by Gary Woods on Tue, 12/16/2014 - 13:30

In the Montecito Real Estate area of Santa Barbara for the Condo Market the total numbers of properties available through 12/10/14 is 39 compared to 52 last year for a 25% decline and the escrows are down with 29 last year compared to 20 this year for a 31% fall. There were 29 sales last year compared to 16 this year for a 44% drop and the average sales price has gone up from $1,330,379 to $1,795,125 for a 34% rise.

For Home Estates for Montecito Real Estate through 12/10/14 there have been 452 listings compared to 501 last year for an 9% drop and the escrows are down from 224 to 197 for an 12% decline while the sales are down from 217 to 201 for an 7% fall. The average sales price is up from $3.156 million to $3.566 million for a 12% rise.

For the PUD market in Montecito there has been 5 listings this year compared to 4 last year and there has been 4 escrows compared to 1 last year. There have also been 4 sales this year compared to 1 last year and those 4 sales had an average sales price of $2,015,375 while the 1 sold for $1,295,000.