The Montecito real estate statistics are showing signs of a potential turn around. In June 2010, Montecito saw an increase of 22% more homes sold than in June 2009. So far, July is pacing similarly - currently, the number of Montecito homes sold in July is up 25% over July last year.
The median home price of Montecito homes sold in June 2010 was up over 6% year over year. So far, July is pacing very stongly - currently, the median sold price in July is up an incredible 46% over last year.
At the same time, the number of newly listed homes for sale in Montecito has been experiencing significant declines. In June, the number of Montecito homes listed for sale was down 24% over June last year. So far, July is pacing signficantly lower - currently, the number of newly listed Montecito homes is off 53% over last year.
Montecito is selling more homes, and listing less homes. If this trend continues, it will put the Montecito real estate market back in the the supply and demand constraint it has experienced for many years. Right now, there are still a good number of Montecito homes for sale, and there are many motivated sellers. Recent comparable sales in Montecito show many good deals. To view homes for sale in Montecito, visit www.DistinctiveRealEstateOnline.com For more information, contact Wendy Gragg, 805.453.3371.
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