top of page
1147 Hill Rd_0030.jpg

BLOG

How's the Market?

Updated: 4 days ago

Last week was B-u-s-y, with a capital “B” ! There were 9 offers on the new Hedgerows' listing on Santa Rosa and showings all across town are way up with buyers out in force after all the rain. Despite the dramatic headlines, as we review the data and local stats, we are still seeing plenty of demand and optimism. Last week in Montecito there were 2 New Listings, 4 Closed Sales and 2 Pending Sales - all indications are that the trend will continue.


2 NEW LISTINGS


2692 SYCAMORE CANYON ROAD

Playful, spirited, timeless and modern, this 2.4 acre Montecito estate is a classic. Seven bedroom suites plus a private guest house and pool cabana offer something for everyone. Offered at $15,500,000


999 ROMERO CANYON ROAD

A world-class remodel, the exceptional design and amenities are on full display at this 6 bedroom, ocean view Montecito estate. Offered at $19,950,000.



4 CLOSED SALES


2 PENDING SALES



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


A bit more data:


Based on the key economic variables and comparing today’s climate to our last recession, predictions are that we are likely to have a very mild recession with little impact on the housing market:

Also, as far as home prices go, Montecito prices were up 15% on average last year. It’s possible that month-over-month price depreciation, which began in the summer, may already be behind us – and even those numbers didn’t show significant declines on the national level. Over the last four months that have been published (July - October) the data shows home price depreciation peaked in August. This data coincides with what we are seeing locally with demand for properties remaining strong and consistent.


Stay up to date with the latest real estate market trends and activity - to receive the weekly market update subscribe HERE.


 

That sums it up for last week!

Click here to view more of our current featured listings.

Screen Shot 2020-04-22 at 9.19.53 AM.png
Tranquil Oasis
Tranquil Oasis
Jan 31, 2023
A Pastoral Paradise
A Pastoral Paradise
Jan 30, 2023
How's the Market?
How's the Market?
Jan 30, 2023
Unprecedented Opportunity to Transform a California Classic
Unprecedented Opportunity to Transform a California Classic
Jan 24, 2023
Welcome Life in Full Color
Welcome Life in Full Color
Jan 23, 2023
The January Essential
The January Essential
Jan 22, 2023
  • Facebook
  • Twitter
  • Instagram
  • LinkedIn
  • Pinterest
  • YouTube
Follow
Archive
Recent Posts
Featured Post
Categories