A recent article from Forbes listed Montecito as the 19th most expensive zip code in the nation. Montecito trailed markets like Los Altos, Beverly Hills and Rancho Santa Fe in California, while Manhattan's Upper East Side snagged the top spot. The writers compiled their rankings with the help of a California company that tracks housing data, pulling pricing for more than 20,000 zip codes across the country for a 90 day period. The firm calculated the median asking price, median price change, average days on the market and local inventory. According to the report, the main factor driving today's listing prices in the most expensive zip codes this year is overall lack of inventory.
93108: Montecito, CA
Median home price: $3,236,765
Median price change: 3.6%
Average Days on Market: 228
Inventory: 194