I believe the May 28 front-page headline, “Mansion illustrates uncertainty around Montecito real estate,” is misleading and does not accurately reflect the current market given the sales data for the first five months of 2019. There have been 56 Montecito single-family home sales through May 27, 2019, with a median price of $3,041,500.
This is opposed to the 40 single-family homes with a median price of $2,725,000 through May 27, 2018. This represents a 40 percent increase in the number of sales and a 11.6 percent increase in the median price for the 2019 year-to-date stats over 2018’s same time period.
Furthermore, there was an 11 percent increase in the average sales price in 2019 over 2018 highlighted by the seven sales over $8 million in 2019 versus the three sales of estates over $8 million the year prior. In summation, I believe you risked misleading the public on the current Montecito market with your provocative headline.