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Montecito Days on the market for 1-1-14 to 12-24-14 compared to the previous year

Submitted by Gary Woods on Wed, 12/31/2014 - 13:30

From 1-1-14 to 12-24-14 in Montecito Real Estate for the Home Estate/PUD market there have been 190 sales compared to 205 last year. The median sales price has come up from $2.4 million last year to $2.725 million this year while the average sales price also went up from $3.059 million last year to $3.472 million. Those 190 sales took on average 89 days to get an accepted offer and when you add in another 36 days of average escrow time you get a total marketing time of 125 days.

For Condominiums for the same time period in Montecito Real Estate this year there have been 16 sales this year compared to 27 last year. The median sales price has gone up from $1,115,000 last year to $1,600,000 this year and the average sales price has also gone up from $1,344,296 to $1,795,125. Those 16 sales took on average 64 days to get an accepted and when you add in another 27 days of average escrow time you get an average of 91 days of total marketing time.