That’s according to Forbes’ annual list of America’s most expensive ZIP codes, which uses a 90-day rolling average for the period ended Oct. 27 and includes both single-family homes and condominiums. This year Montecito (93108) ranked 24th on Forbes’s list with a median price of $4,450,371. Days on the market 202. With an inventory at the time this list was created at 154. In 2016 Montecito ranked 25th.
While home prices in the nation’s most elite ZIP codes are still sky-high, Forbes notes that the time properties take to sell has increased from last year, which may indicate a softening at the upper end of the market.
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