top of page
1147 Hill Rd_0030.jpg

BLOG

How's the Market?

Updated: Jan 29, 2023

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.



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


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.






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!

Comments


Screen Shot 2020-04-22 at 9.19.53 AM.png
How's the Montecito Real Estate Market?
How's the Montecito Real Estate Market?
May 13, 2024
Endless Vacation in Montecito
Endless Vacation in Montecito
May 8, 2024
How's the Market?
How's the Market?
May 6, 2024
How's the Market?
How's the Market?
Apr 29, 2024
Q1 2024 Market Update - Montecito and Santa Barbara Real Estate Newsletter
Q1 2024 Market Update - Montecito and Santa Barbara Real Estate Newsletter
Apr 28, 2024
How's the Market?
How's the Market?
Apr 22, 2024
  • Facebook
  • Twitter
  • Instagram
  • LinkedIn
  • Pinterest
  • YouTube
Follow
Archive
Recent Posts
Featured Post
Categories
bottom of page