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Montecito from 1/1/15 through 8/14/15 comparing ’15 to ’14 for the Santa Barbara area

Submitted by Gary Woods on Wed, 08/19/2015 - 12:30

In the Montecito Real Estate area of Santa Barbara for the Condo Market the total numbers of properties available through 8/14/15 is 41 compared to 26 last year for a 57% rise and the escrows are up with 9 last year compared to 23 this year for a 155% rise. There were 9 sales last year compared to 22 this year for a 144% rise and the average sales price has gone down from $1,681,056 to $1,584,083 for an 5% decline.

For Home Estates for Montecito Real Estate through 8/14/15 there have been 352 listings compared to 366 last year for a 3% drop and the escrows are down from 144 to 129 for an 10% drop while the sales are down from 136 to 121 for an 11% decline. The average sales price is up however from $3.821 million to $4.418 million for a 15% rise.

For the PUD market in Montecito there has been 4 listings this year compared to 3 last year and there have been 3 escrows compared to 4 last year and there have been 2 sales this year compared to 2 last year and those 2 sales this year had an average sales price of $1,800,000 while the 2 sales last year averaged $1,574,000.