$8,966 Closing Credit*
$755,000
1,155 SqFt
3 Beds
•3 Full Baths
Dwaine Williams, Listing Office: eXp Realty of California Inc
Is Montecito Heights, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Montecito Heights was a Seller's Market.
Key Takeaway
Montecito Heights is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Montecito Heights, CA
How much do homes in Montecito Heights, CA cost?
Median Sold Price
$813,000
$616/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$115,250(+16.5%)
Key Takeaway
Homes in Montecito Heights have sold for 16.5% more than they did a year ago.
Summary: The median home sold price in Montecito Heights was $813,000 in November 2024, up 16.5% from last year, and the median price per square foot was $616.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $515K | $487.7K | -5.3% |
| 2 Bedrooms | $641.1K | $722K | +12.6% |
| 3 Bedrooms | $930K | $889K | -4.4% |
| 4 Bedrooms | $1.1M | $1.0M | -12.1% |
| 5+ Bedrooms | - | $850K | N/A |
Summary: Montecito Heights housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.3%, 2 bedroom homes increased by 12.6%, 3 bedroom homes decreased by 4.4%, 4 bedroom homes decreased by 12.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Montecito Heights | $697.7K | $813K | +16.5% |
| Highland Park | $1.1M | $1.2M | +9.1% |
| El Sereno | $805K | $840K | +4.3% |
| Northeast LA | $1.1M | $1.1M | +3.2% |
Housing Supply in Montecito Heights, CA
How many homes are available in Montecito Heights, CA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 40 | 41 | +2.5% |
Summary: The Montecito Heights real estate market had 41 homes for sale in November 2024, a 2.5% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 5 | +66.7% |
| 2 Bedrooms | 15 | 16 | +6.7% |
| 3 Bedrooms | 14 | 11 | -21.4% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Montecito Heights housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 6.7%, 3 bedroom homes decreased by 21.4%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 10 | 5 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Montecito Heights, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Montecito Heights in November 2024, down by 50.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 58 Days | 23 Days | -60.5% |
Summary: Homes in Montecito Heights had an average of 23 days on market in Nov 2024, down by 60.5% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Montecito Heights are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 5 homes were sold in Montecito Heights; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.