Montecito Market Update: April 2020

What’s up, what’s down and what is going to happen?

No one knows. But even though activity and showings are way down, there have been some impressive sales in the last month. In some cases, Seller’s have taken it on the chin, as they say, with hefty discounts to their original asking prices. But in the +$10M market, this is a trend that was already well underway, so it isn’t entirely linked to COVID. In many other instances, primarily in the $2M-$5M range, we have seen multiple offers. And, in April we had a mini-surge in the Montecito beach condo market with many condos going into escrow at Bonnymede and Montecito Shores.

For the sales that caught my attention this past month, click here.

This was also the month that “Pocket Listings” became a thing of the past and the National Association of Realtors officially banned any listings from being marketed without being in the Multiple Listing Service.

As always, don’t hesitate to get in touch to discuss Montecito real estate.