Montecito Real Estate Statistics Reigns Supreme Amid Worldwide Economic Woes
Montecito Real Estate Statistics Reigns SupremeAmid Worldwide Economic Woes The year 2008 brought much talk of declining home prices, and slumping economies around the world. Despite this, Montecito real estate statistics show that Montecito bilked that trend. For the January 1, 2008 through December 31, 2008 time frame, Montecito has some very impressive data. The median sold price in Montecito in 2008 was $3,022,500., which represents an increase of +4.2% from the same period in 2007. The average sold price in Montecito in 2008 was $3,928,865., representing an increase of +5.3% over 2007. This Montecito data is incredibly impressive when you consider that many communities are seeing real estate declines of 20 to 30% or more. What is so special about Montecito? Montecito is one of the very best quality of life communities in the world. It is a small oceanfront resort community nestled between miles of clean, sandy, uncrowed beaches, and thousands of acres of majestic mountains. The average temperature is in the 70 degree range. The sun shines almost every day of the year. With low humidity, and clean air, incredible architecture and stunning natural landscapes, Montecito is widely considered one of the most desirable destinations in the world. While these Montecito real estate statistics are very impressive, especially in the wake of a global recession, these impressive numbers are no anomaly. Montecito has enjoyed price appreciation for decades. The predominant catalyst for this is Montecito's long standing low growth philosophy. Montecito is a small community that has a strong political will to stay small. This historically has created the supply and demand pressure that impacts price appreciation. For more specific statistical detail, or for information on Montecito Real Estate for sale contact Wendy Gragg, President, Distinctive Real Estate 805.565.0246 www.DistinctiveRealEstateOnline.com Source: Santa Barbara Multiple Listing Service