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How's the Market?

I got a text this morning asking me to complete a survey on the state of State Street and it made me reflect on all the changes (improvements? I guess those are in the eye of the beholder!) happening in Montecito. Of course there’s the Olive Mill roundabout (is it just me, or did it seem to happen pretty quickly once they got going?). Then there’s the development in the works at the Bird Refuge and the move from downtown to our Upper Village by Restoration Hardware and Rooms and Gardens. And now the little strip of shops adjacent to the Country Mart (Starbucks, Sakana, Stretch Lab...) is going to get an expanded patio with outdoor seating. Pretty spiffy if you ask me. Check out the rendering below and read more here.


Last week was busier in Montecito, with 8 New Listings, 6 Closed Sales and 5 Pending Sales. Two of the new listings aren’t really “new.” 850 Romero Canyon is a classic Montecito estate with a pool, southern exposure with lovely vistas and guest house - it was listed earlier this month and didn’t sell; it came back on the market last week for about $300k less. Another favorite, 231 Butterfly Lane, is a remodeled home with stunning landscaping just blocks away from The Montecito Club. It sold at the beginning of this year for $4.8M and has come back on the market for $5.95M. It will be interesting to see if the demand for this “walkable” location warrants a $1M+ appreciation in a few months!



What happened in Montecito Last Week?

May 14th - May 20th



850 ROMERO CANYON ROAD

Stunning views, sophisticated design, luxe amenities, and private magical gardens offer the ultimate Montecito retreat. Offered at $10,995,000


811 CAMINO VIEJO ROAD

Casa Bene, an architecturally remarkable contemporary estate situated on a knoll-top location, offers breathtaking views. Offered at $10,750,000


231 BUTTERFLY LANE

This exceptionally private, turnkey 5 bedroom 3 bath home is beautifully situated on a nearly 1/2 acre gated lot in one of the most coveted locations in all of Montecito. Offered at $5,950,000








Below is our weekly Montecito Market Summary.



2025 CREEKSIDE ROAD • MONTECITO

$3,450,000


Montecito Valley Ranch • 2.49 Acres • Flat Pastoral Parcel Mountain and Landscape Views • Surrounded by Prestigious Estates • Convenient Location to Montecito and Summerland Unlimited Possibilities for the Ultimate Montecito Legacy



The promise of a dream fulfilled awaits! A blank canvas with both the Pacific Ocean and Santa Ynez Mountains at your door, is just waiting to be transformed into the home of your Montecito dreams. A flat 2.49 acre pastoral parcel sits behind the private gates of Montecito Valley Ranch and is conveniently located to world-class beaches, hiking, fine dining, shopping and more.






 

That sums it up for last week!

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