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How's The Market?

Lately there has been a lot of speculation about the housing market, but let us help you keep things in perspective. Looking at the history of home prices since 1941 to today, home values have increased 73 years, decreased 7 and been flat only one. Now, that is a pretty good record, one that you would not want to bet against.


For Montecito specifically, the Median Sales Price may be lower than 2022, but so far it is still higher than other recent years (see below). In the past, the majority of years where home prices plummeted was during the housing bubble, where there was wild speculation, not enough buyer demand, and a glut of supply. Things are much different in today's market.




What happened in Montecito Last Week?

March 12th - March 18th



1045 COLD SPRINGS ROAD

After an extensive renovation by Marc Appleton, this reimagined 5 bedroom/ 6 bathroom estate is a beautiful balanced of sophistication and ease. Offered at $16,900,000


166 BUTTERFLY LANE

Welcome to this classic 1920's Spanish Colonial gem, where every space deserves a moment of pause. Offered at $6,195,000


1330 PLAZA PACIFICA

An ultra-luxurious 2 bedroom/ 2.5 bathroom town home, that is spacious and modern accented by ocean views within the beachfront gated community of Bonnymede. Offered at $3,950,000







Below are quick links to luxury listings (+$2M), around town:




Below is our weekly Montecito Market Summary.






2930 Bramadero Road | Los Olivos


Private Valley Estate • Custom Built in 1998 • Lot Size: 19.3 Acres

4 Bedrooms/ 3.5 Bathrooms • Mountain and Pastoral Views • 4 Large Pastures

Central Santa Ynez Wine Country Location



Celebrate the rural pleasures of fresh air, sunlight, open spaces and rolling hillsides at this Kentucky Style Ranch. Tradition, craftsmanship and style are the hallmarks of this Evans Jones designed, custom-built Santa Ynez Valley estate in the community of Rancho Cuerno Largo. Situated in the wine country’s coveted town of Los Olivos on over 19 acres, the property features panoramic mountain, valley, and pastoral views, all just moments from the shops, restaurants and tasting rooms of Los Olivos.




 

That sums it up for last week!

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