Main Content

Montecito & Hope Ranch Real Estate 1st Quarter Market Update April 2017

title image

Montecito Quarterly Report

January – March 2017

graph

In Montecito we saw a 35% decrease in sales with 30 sold compared to 46 sales in the same quarter last year. As expected, the total volume decreased from $214,024,500 in 2016 to $115,694,494 in 2017. Additionally, the Median Sales Price in 2016 was $3,262,500 and the Average Sales Price was $4,212,758, which is a substantial contrast to $2,912,500 and $3,856,483 for 2017. There are currently 154 active listings and 25 pending sales. On average, properties sold for 91% of their last list price.

Hope Ranch Quarterly Report

January – March 2017

graph 2

What a turnaround! Hope Ranch saw a jump in sales with 9 Sold, compared to 3 sales in the same quarter last year. The volume increased from $17,720,000 in 2016 to $27,851,500 in 2017. Despite the low number of units sold last year, the Median Sales Price was $5,900,000 and the Average Sales Price was $5,906,667, which is a substanial contrast to the $2,875,000 and $3,094,611 for 2017. There are currently 30 active listings and 5 pending sales. On average, properties sold for 95% of their last list price.

For more information about Montecito, Hope Ranch and Santa Barbara market conditions
contact us at

team@teamscarborough.com
 or call (805)331-1465
.