Is Montecito, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Montecito has remained a Seller's Market.
Housing Prices in Montecito, CA
How much do homes in Montecito, CA cost?
Median Sold Price
$5,297,000
$1,818/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Montecito was $5,297,000 in April 2024, up 13.9% from last year, and the median price per square foot was $1,818.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $1.8M | - | N/A |
2 Bedrooms | $2.9M | $3.5M | +20.8% |
3 Bedrooms | $3.5M | $4.5M | +29.7% |
4 Bedrooms | $5.0M | $5.2M | +5.9% |
5+ Bedrooms | $9.0M | $7.8M | -13.1% |
Summary: Montecito housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 20.8%, 3 bedroom homes increased by 29.7%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes decreased by 13.1%.
Housing Supply in Montecito, CA
How many homes are available in Montecito, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
83 | 97 | +16.9% |
Summary: The Montecito real estate market had 97 homes for sale in April 2024, a 16.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 3 | +200.0% |
2 Bedrooms | 8 | 9 | +12.5% |
3 Bedrooms | 22 | 25 | +13.6% |
4 Bedrooms | 26 | 35 | +34.6% |
5+ Bedrooms | 26 | 25 | -3.8% |
Summary: The Montecito housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 34.6%, and 5+ bedroom homes decreased by 3.8%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
11 | 19 | +72.7% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 19 homes were sold or pending in Montecito in April 2024, up by 72.7% month-over-month. Of the 19 sold homes, 95% were sold under asking, 0% were sold at asking, and 5% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
39 Days | 71 Days | +82.6% |
Summary: Homes in Montecito had an average of 71 days on market in Apr 2024, up by 82.6% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During April 2024, 19 homes were sold in Montecito; 42% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 37% of homes were sold over 90 days.