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Montecito & Hope Ranch Quarterly Market Update January 2017

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Montecito Quarterly Report

December 2016

4th quarter

4TH QUARTER

In Montecito the number of sales remained consistent with 45 sold. The average sales price dropped 12% to $2,914,442 and the median sales price rose 5% to $2,625,000. On average, properties sold for 94% of their last list price. Currently there are 150 active listings and 13 pending sales.

YEAR IN REVIEW

What a year! In 2016 Montecito activity remained consistent while we saw a slight drop in sales price. There were 204 total sales  with an average sales price of $3,345,512. Median sale price fell 4% to $2,552,015. The average price per square foot was $1,019. On average, properties sold for 93% of their last list price, taking 1 to 532 days to sell.

Hope Ranch Year End Report

2016

Annual

YEAR IN REVIEW

What a year! In 2016 Hope  Ranch saw a drop in sales with 20 total sold and an average sales price of $3,329,000. Median sale price fell 16% to $2,850,000. The average price per sqaure foot was $878. On average, properties sold for 92% of their last list price, taking 1 to 330 days to sell. Currently there are 28 active listings and 7 pending sales.

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

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