Is Montecito, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
At the same time last year, Montecito was a Seller's Market.
Housing Prices in Montecito, CA
How much do homes in Montecito, CA cost?
Median Sold Price
$5,225,000
$1,777/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Montecito was $5,225,000 in June 2024, up 3.5% from last year, and the median price per square foot was $1,777.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $1.8M | - | N/A |
2 Bedrooms | $3.2M | $3.3M | +4.3% |
3 Bedrooms | $4.3M | $4.3M | 0.0% |
4 Bedrooms | $5.2M | $4.8M | -8.3% |
5+ Bedrooms | $8.0M | $8.4M | +4.8% |
Summary: Montecito housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.3%, 3 bedroom homes did not change, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes increased by 4.8%.
Median Sold Price Compared To Nearby Neighborhoods
Lower Village Montecito | $5.3M | $5.6M | +6.6% |
Montecito | $5.0M | $5.2M | +3.5% |
Housing Supply in Montecito, CA
How many homes are available in Montecito, CA?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
89 | 101 | +13.5% |
Summary: The Montecito real estate market had 101 homes for sale in June 2024, a 13.5% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 6 | 9 | +50.0% |
3 Bedrooms | 21 | 25 | +19.0% |
4 Bedrooms | 33 | 38 | +15.2% |
5+ Bedrooms | 27 | 27 | 0.0% |
Summary: The Montecito housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 19%, 4 bedroom homes increased by 15.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
14 | 12 | -14.3% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Montecito in June 2024, down by 14.3% month-over-month. Of the 12 sold homes, 75% were sold under asking, 8% were sold at asking, and 17% were sold over asking.
Days on Market for Montecito, CA
How long does it take to sell a home in Montecito, CA?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
28 Days | 52 Days | +81.9% |
Summary: Homes in Montecito had an average of 52 days on market in Jun 2024, up by 81.9% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During June 2024, 12 homes were sold in Montecito; 58% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.