Montecito properties for sale, sold in 2008 thus far show continued strong sales and stable value appreciation. The table below shows sales statistics to date in Montecito from January 1st as compared to this same time frame in 2007. Clearly the market strength continues here with average sale price up 33% year to date and median sale price similiarly up 29% year to date.
Total number of sales is down to date due to a stalled market early in the year caused by the sub prime over reaction, which has had an infinitesimal effect here, and that pace has recovered swiftly. The Montecito CA real estate market place once again demonstrates it insular strength to shine and is most likely a leading indicator for the rest of the area, state and country. Other Santa Barbara real estate market segments have shown similar trends as well, particularly the Santa Barbara estates market above $2.5 million. This is very good news for all market segments as the high end market can have a stimulating influence on all area Santa Barbara real estate market segments. The table below shows Montecito properties sold to date statistics.
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