How's The Market?
Montecito welcomed 5 New Listings last week - four of which were below $10M. As a matter of fact 20 of the 31 active listings in Montecito are under $10M and six of those listings are below the $3M mark. One would think this shows a slight trend down in the average sales price of homes in Montecito, however if you look at the average and median sales price year-to-date compared to years previous, they are both higher than every year besides 2022 (see charts below). It will be interesting to follow these trends and see how the year shakes out on a whole. Stay tuned!
What happened in Montecito Last Week?
February 12th - February 18th
1027 CIMA LINDA LANE
This two-story Tuscan villa-style estate is set on 1.97± acres with quintessential Santa Barbara views. Offered at $12,500,000
279 SANTA ROSA LANE
A peaceful cottage located in the highly desired Hedgerow neighborhood offering a guest house and abundant potential. Offered at $5,575,000
909 CHELHAM WAY
Incredible opportunity to own this classic 1934 Spanish style home, conveniently located in the desirable Cold Springs School District. Offered at $2,650,000
Below are quick links to luxury listings (+$2M), around town:
Montecito (28 Active Listings - Down 4 from Previous Week)
Below is our weekly Montecito Market Summary.