Montecito Real Estate Statistical Update – Oct 15, 2014. While the Montecito real estate market continues its double digit median home sales price gains – a great buying opportunity exists in Montecito luxury real estate and buyers are taking notice! Year to date, the Montecito median home selling price is up 12.5%. The Montecito median home selling price is currently $2,700,000. Last year it was $2,400,000. The Montecito real estate market has had a long run of a lack of Montecito homes for sale. The number of Montecito homes listed for sale is down 6.8% year over year. As a result of the lack of Montecito homes for sale, the number of Montecito homes sold is down 14.7% year over year.
While the low end of the Montecito real estate market has been the strongest segment driving the double digit median homes sales price gains, the Montecito luxury real estate market offers a great buying opportunity. The Montecito luxury real estate market is defined as homes priced above $5 million. The Montecito luxury real estate market has had an increase in in the number of Montecito luxury homes listed and in the number of Montecito luxury homes sold. The number of Montecito luxury homes listed for sale is 26.7% year over year. This sizable double digit increase in the number of Montecito luxury homes listed for sale creates a plentiful selection for buyers to choose from and buyers are taking notice! The number of Montecito luxury homes sold is up 17.6% year over year. The Montecito luxury real estate median home selling price currently stands at $7,083,000. That is 14.1% lower than the Montecito luxury real estate median home selling price of $8,250,000. at this time last year.
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