Is Montecito Heights, 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 Heights has remained a Seller's Market.
Housing Prices in Montecito Heights, CA
How much do homes in Montecito Heights, CA cost?
Median Sold Price
$762,000
$598/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Montecito Heights was $762,000 in April 2024, up 5.8% from last year, and the median price per square foot was $598.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $474K | $515K | +8.6% |
2 Bedrooms | $670K | $667.5K | -0.4% |
3 Bedrooms | $1.0M | $918.7K | -13.3% |
4 Bedrooms | $1.3M | $1.1M | -15.1% |
5+ Bedrooms | - | $1.0M | N/A |
Summary: Montecito Heights housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.6%, 2 bedroom homes decreased by 0.4%, 3 bedroom homes decreased by 13.3%, 4 bedroom homes decreased by 15.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
Montecito Heights | $720K | $762K | +5.8% |
Highland Park | $1.1M | $1.1M | +0.9% |
Northeast LA | $1.1M | $1.1M | -2.1% |
El Sereno | $859.5K | $820.7K | -4.5% |
Housing Supply in Montecito Heights, CA
How many homes are available in Montecito Heights, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
38 | 46 | +21.1% |
Summary: The Montecito Heights real estate market had 46 homes for sale in April 2024, a 21.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 17 | 20 | +17.6% |
3 Bedrooms | 14 | 16 | +14.3% |
4 Bedrooms | 5 | 6 | +20.0% |
5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Montecito Heights housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 17.6%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
6 | 13 | +116.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in Montecito Heights in April 2024, up by 116.7% month-over-month. Of the 13 sold homes, 46% were sold under asking, 15% were sold at asking, and 38% were sold over asking.
Days on Market for Montecito Heights, CA
How long does it take to sell a home in Montecito Heights, CA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
17 Days | 21 Days | +19.3% |
Summary: Homes in Montecito Heights had an average of 21 days on market in Apr 2024, up by 19.3% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 13 homes were sold in Montecito Heights; 85% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.