How's the Market?
Happy New Year!
The first week of 2024 has come and gone and instead of New Year’s resolutions, I thought I’d share my short list of what I think will be “IN” and “OUT” for 2024:
I can think of lots more, but then they might be more “hopes” than actual predictions —
Now for the stats, it was a quiet first week of the year with 1 New Listing, 2 Closed Sales and no Pending Sales. The new listing was 335 Hot Springs Road, which is a +/- 1 acre-buildable parcel situated on a private lane off Hot Spring Road, listed for $2,995,000. In Montecito there are only six lots for sale under $3.5M, click here to view.
Both of the 2 Closed Sales were in the upper $5M price range:
301 San Ysidro Road, a contemporary Montecito estate sold for $5.7M. It was originally listed in April 2023 for $8.3M. After a couple price reductions, they re-listed in October 2023 for $6.85M and sold for 16.7% less than its last list price about 2.5 months later.
839 & 841 Summit Road, a private ranch-style ocean view property situated on two parcels, sold for $5.9M after 165 Days on Market. It closed $1M below its last list price of $6.9M (14.4%).
As we head into 2024, I’ll be keeping you updated each week with real estate updates and insights through our blog and emails!
What Happened in Montecito Last Week?
December 31st - January 6th
0 PENDING SALES
2023 SALES RECAP
