October Stats for Montecito.

Houses: There were 8 sales which was down a lot from 16 last month and 19 last October. YTD, 161 homes have sold, which is running BEHIND by 43% compared to last year. The YTD Median Sales Price is $5,250,000, up 5% from last year. There were 40 homes for sale as of October, which is a lot less than the 150+ that we have in a normal market. On average homes are selling within 54 days at 94.8% of the list price.

Condos: not a big condo maker in Montecito. There was 1 sale in October, which isn’t too typical, however YTD 28 condos have sold, which is behind by 38% over last year. The YTD Median Sales Price was $3,075,000, up 54% YTD. There were 4 condos for sale as of October, very low compared to around 20 pre-pandemic. On average Montecito condos are selling within 56 days on the market at around 91% of the list price.