2021 Mid-Year Review
The first half of 2021 has seen remarkable appreciation both in comparison to the last six months of 2020 and in comparison to the peak for each of the sections highlighted below.
In the first six months of 2021, the Median and Average Sales Prices of Single Family Residences are up 11.8 %and 16% respectively for all areas excluding Montecito and Hope Ranch.
Similarly, the median and average sales prices for condominiums in all areas combined are up 5.4% and 9.9% respectively.
The real winner this year was Montecito with Median and Average Sales Prices up a whopping 31% and 34.5% respectively!
And Months of Inventory for Single Family Residences in all areas excluding Montecito and Hope Ranch is currently at 23 days; condominiums are even lower at 13 days and Montecito has a little more to choose from with 2.65 months.
The Average Days on Market is 24.5 for homes and condominiums and 69 for homes and estates in Montecito.
Where things get even more mind boggling is when we compare the Year-to-Date statistics to the peak years. For Single Family Residences and Condos this was in 2005; Montecito peaked in 2008. Take a look and remember to breath:)
