How's the Market?
"It ain't over til it’s over” — Yogi Berra
American baseball legend Yogi Berra first uttered the phrase about baseball's 1973 National League pennant race. His team was a long way behind when he said it and they did eventually rally to win the division title.
I have been humming Lenny Kravitz’s version of Yogi Berra’s famous quote all weekend as we had several deals in the works that seemed dead and then…poof were back! It’s definitely a market to keep hope alive and emotions at bay to help buyers and sellers get where they really want to be.
Last week in Montecito there were 2 New Listings, 2 Closed Sales and 1 Pending Sale.
The market never lies and the 2 Closed Sales were a perfect example of this.
172 Santa Elena Lane sold after 19 days on the market for $8,470,000, which was just $25k under its list price. The quick sale and high price underscores its well-calculated pricing strategy and the market demand.
In contrast, 303 Meadowbrook Drive closed at $9,650,000 after a prolonged 455 days on the market, marked by five price reductions. Despite an initial listing at $13,000,000, the property ultimately settled at just above $9,500,000, revealing the journey to discover its true market value.
As we head into the last half of February, stay tuned for the latest market knowledge each week.
What Happened in Montecito Last Week?
February 11th - February 17th
FAVORITE THINGS
Explore my top picks this month!
