August 2010 marks the third consecutive month of double digit percentage increases in the number of homes sold in Montecito on a year over year basis. August 2010 also marks the third consecutive month of a decline of new homes listed for sale in Montecito on a year over year basis.
On a year to date basis, the number of Montecito homes sold is up 7.6%, and the number of new listings of homes in Montecito is down 8.2%.
Clearly, more Montecito homes are selling, and fewer Montecito homes are being listed for sale. If this continues, the Montecito real estate market will experience a supply/demand imbalance. Timing is everythng, and now is a great time to buy a home in Montecito. There is ample supply in every price range, and there are many Montecito sellers anxious to sell.
To view Montecito homes for sale, go to www.DistinctiveRealEstateOnline.com or contact Wendy Gragg at 805.453.3371.
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