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Montecito & Hope Ranch Real Estate 2nd Quarter Market Update July 2017

Market Update 2 - July 2017

Hope Ranch Quarterly Report

April – June 2017

Hope Ranch Activity 2nd Quarter 2017

In Hope Ranch we saw a decrease in sales with 7 sold compared to 9 sales in the same quarter last year. This decrease in sales led to a decline in total volume dropping 48% from $23,865,000 in 2016 Q2 to $16,074,200 in 2017. Additionally, the Median Sales Price fell 9% from $2,200,000 in 2016 to $2,017,257 in 2017. Respectively, the Average Sales Price decreased 15% from $2,651,667 to $2,296,314 for 2017. In Hope Ranch there are currently 29 active listings and 5 pending sales. On average, properties sold for 94% of their last list price.

Montecito Quarterly Report

April – June 2017

Montecito Sold Activity 2nd Quarter 2017

In Montecito we saw a 20% increase in sales with 51 sold compared to 40 sales in the same quarter last year. This increase in sales led to a rise in total volume growing 27% from $140,770,266 in 2016 Q2 to $191,761,472 in 2017. Additionally, the Median Sales Price rose 14% from $2,795,000 in 2016 to $3,265,000 in 2017. Respectively, the Average Sales Price increased 4% from $3,609,494 to $3,760,029 for 2017. In Montecito there are currently 163 active listings and 21 pending sales. On average, properties sold for 93% 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.