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How's the Market?

"Price is what you pay. Value is what you get." - Warren Buffett


In Montecito, where each property has its own story to tell, heed Warren Buffett's words: you're not just buying a price tag, you're securing unmatched value. From walkability, world-class dining and shopping, hiking, biking, resorts, clubs and pristine beaches, it is a one of a kind place to call home.

The desire for the Montecito lifestyle was clearly evident last week, which turned out to be one of the busiest in recent memory with 7 Closed Sales. The curious thing to me, was that 6 of the 7 sales were between $4M - $5M. From fixer opportunities to charming cottages, and even income-producing coastal compounds, the range of properties available at this price point was abnormally high, as it is nearly $3M lower than the Average Sales Price for Montecito in the first quarter ($7.6M).


Nearing the end of April, there have been a total of 17 sales in Montecito, which is already 70% higher than April 2023 which had 10 sales. Throughout Montecito there are approximately 60 Active Listings, ranging from $1.5M - $44M, highlighting the vibrancy and dynamism of the Montecito real estate market. With the surge in market activity this month and the diversity of properties available, Montecito remains a welcoming haven for a variety of buyers.



What Happened in Montecito Last Week?

April 21st - April 27th









 



796 Hot Springs Road

Montecito | California

Offered at $12,400,000


Discover your next chapter in Montecito's premier "Golden Quadrangle," where this exceptional, ocean and mountain view property offers a gateway to the vibrant Montecito community and its serene natural beauty.




 


That sums it up for last week!

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