For Santa Barbara Real Estate’s Montecito Real Estate area for the Home Estate/PUD market the sales figures through 12/18/14 there have been 187 sales compared to 201 last year for a 7.0% decline. The median sales price last year was $2.4 million and this year it’s is $2.7 million for a 12.5% rise.
The difference between this year’s median list price of $4.8 million and the median sold price of $2.7 million gives us a -43.8% gap and last year the median list price of $4.25 million and the $2.4 million sales price gives us a -43.5% gap.
For the condo market in Montecito Real Estate through 12/18/14 there have been 16 sales compared to 27 last year for a 40.7% decline. The median sales price this year of $1,600,000 compared to last year when it was $1,115,000 gives us a 43.5% rise.
The gap report has a median list price this year of $1,300,000 and the $1,600,000 median sales price gives us a +23.1% positive gap and last year there was an $1,940,000 median list price compared to an $1,115,000 median sales price gave us a gap of -42.5%.