Median Sales Price for South Coast Property Reaches $1.1 Million
Although the number of homes listed for sale are down by 13 percent from last May, sales prices have jumped by 23 percent with the median price of a South Coast property — from January 1 to the end of May — weighing in at $1.1 million. That compares to $892,000 in 2013 and $848,000 in 2010. For the month of May alone, the median listing price was $1.15 million and the actual sales price was $1.12 million. Excluding listings in Montecito and Hope Ranch — which saw both average and median prices up — this year’s median sales price is thus far $991,000. That’s up from $805,000 the year before.