How's the Market?
An endless escalator?
Inflation is that one unwanted guest that just won’t leave: headline inflation (CPI) in March rose to 3.5% annually, up from 3.2% the month before.
Investors didn’t love the news initially as it pushed expectations of rate cuts further out, but markets have short memories — the S&P 500 is now actually flat this week, thanks to a better day (+0.7%) yesterday.
On a personal level, though, you might be wondering: is my house still going up in price? Here are the latest pricing graphs to make you feel good!
Now for the latest stats - the spring market felt active and exciting last week! There were 5 New Listings, 4 Closed Sales and 3 Pending Sales. Interestingly, after a start to April that featured several sales above $10M+, last week shifted gears with two of the closed sales falling below the $2M mark. This just goes to show, no matter the price point, there's a fit for every buyer and every lifestyle — you just need to know where to look. 🥸
What Happened in Montecito Last Week?
April 7th - April 13th
1556 LA VISTA ROAD
Santa Barbara | California
Offered at $6,300,000
Behold the majesty of soaring high ceilings and panoramic ocean views where sunshine reigns supreme and illuminates this magnificent Santa Barbara estate.
