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Daniel Encell's
Quarterly Real Estate Update
~ Archives ~

Fourth Quarter, 2004

I am happy to report that it has been another great year for local real estate. Prices, both average ($1,278,676) and median ($875,000), are at their highest levels ever for almost all areas along the South Coast. The number of sales is up 9 % over last year (not quite as good as 2000 and 2002 levels). There have been 725 sales over 1 million so far this year, which is an increase of over 50% compared to 2003, and by far the most sales over 1 million ever for our area.

Montecito
In Montecito, the number of sales (246) is up almost 20% over the last year. The average and median prices are at their highest levels ever (average $2,655,697; median $1,962,500). These strong statistics should continue through the holidays.

 

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