How is the Santa Barbara Real Estate and Montecito Real Estate market doing? We are asked this question on a daily basis and the answer is complex due to the various markets. A brief answer using the latest statistics are as follows.
Entry Level Properties in Santa Barbara & Montecito these are homes under $800,000...Currently there are 135 active listings in this price range and this market accounts for over 50% of all sales with an average of 43 homes sold per month.
Midlevel PropertiesThese are considered those properties priced between $800,000 and $1,600,000 and this part of the Santa Barbara & Montecito market has 161 active listings with an average of 12 sales per month in the last 5 months. Current closed sales are down and there is an increase in foreclosure activity.
High End Properties with a listing price of $1,600,000 to $3,000,000 currently have 104 active listings in the Santa Barbara & Montecito Real Estate market with an average of 9 sales for the previous 4 months. There are currently 20 pending sales, which is a big increase.
Luxury Homes Market These are properties over $3,000,000 and it is the segment of the market that is the weakest. In the Santa Barbara & Montecito MLS there are currently 134 listings and the number of closed sales for the last four months averaged 4.75.
Click any of the links above to see the active listings in these categories (number of homes will vary do to new listings and closed sales).