If your looking for gloom and doom about the real estate market, you best exit this posting quickly. Here are the stats tor Montrecito real estate market sales year to date for 2008 compared to the same period for 2007. You will see some pretty incredible statistics and trends. The average price is up 34% and the median is up 29% for the Montecito properties market thus far for 2008. The number sold is off 20% from last year with the average and median prices up, indicatng a lack of inventory of "better" homes to choose from. However when those "better" homes are found by the Montecito real estate buyer, they are receiving a premium price. Turn key values are what is moving in this unique Montecito properties market place. Gone are the days of a fix and flip. The Montecito value buyer wants no question marks left as to remodeling or upgradeing costs and doesn’t want to wait for the work to be completed. They are willing to pay for the turn key value that is move in ready and so that is what is currently moving this amazing Montecito real estate market place. Here is the chart for Montecito properties sold to date for 2008 over 2007.
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