Return to Dan's Home Page
Meet Daniel Encell
Dan's current listings
Services for Buyers & Sellers
Information about the Santa Barbara area
Market information for the Santa Barbara area
Success with Dan Encell
Dan in the Media
Search the Multiple Listing Service
Contact Dan
 

2017 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2016 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2015 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2014 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2013 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2012 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2011 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2010 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2009 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2008 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2007 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2006 ARCHIVES

1st Quarter
2nd Quarter
Economic Forecast
3rd Quarter
4th Quarter

2005 ARCHIVES

1st Quarter
2nd Quarter
Economic Forecast
3rd Quarter
4th Quarter

2004 ARCHIVES
1st Quarter
2nd Quarter
Economic Forecast
3rd Quarter
4th Quarter
2003 ARCHIVES
1st Quarter
2nd Quarter
3rd Quarter
4th Quarter
2002 ARCHIVES
COMING SOON
2001 ARCHIVES
COMING SOON
2000 ARCHIVES
1st Quarter
2nd Quarter
2nd Quarter Economic Forecast
1999 ARCHIVES
1st Quarter
2nd Quarter
3rd Quarter
1998 ARCHIVES
1st Quarter
2nd Quarter
Economic Forecast
2nd Quarter Article
3rd Quarter
4th Quarter
1997 ARCHIVES
2nd Quarter
Economic Forecast
3rd Quarter
4th Quarter
1996 ARCHIVES
2nd Quarter
3rd Quarter
1995 ARCHIVES
3rd Quarter

 

Daniel Encell's
Quarterly Real Estate Update
~ Archives ~

4th Quarter 2009

Sales activity in Montecito for the third quarter showed dramatic improvement, especially for higher priced properties. In fact, there were more Montecito sales over $10 million in the third quarter than in the previous three quarters combined!

During the third quarter, there were a total of 46 sales in Montecito compared to 34 sales in the second quarter – an increase of 35%. Of those sales, 9 were above $5 million and of these, 3 were above $10 million. The two largest sales during this period were 815 Cima del Mundo for $18,500,000 and 2549 Sycamore Canyon Road (The Val Verde Estate) for $15,310,000. (For a complete look at all Montecito sales for 2009, click here.)

Compared to the second quarter of 2009, the median price for Montecito properties rose 21% to $2,725,000 and the average price rose 14% to $3,947,020! These impressive numbers reflect a return in sales activity for higher-priced properties which had been very quiet the previous nine months.

Stronger sales activity has been a result of an improving economy, a rebounding stock market, and a great selection of homes at substantially lower prices. Financing for conforming loans is still readily available and interest rates are very attractive. Unfortunately, unemployment is still a big problem, and competitive jumbo mortgages are still not easily accessible for estate homebuyers. As jumbo financing becomes more obtainable and competitively priced, look for even more activity in the estates market.


 

Copyright Dan Encell