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Montecito Market Update: January, 2019

Updated: Apr 23

Montecito saw 11 sales in January, 2019 with 5 cash sales, 4 off-market sales, an average sales price of $4,817,136 (up 59% from last year) and a median sales price of $2,400,000 (down 20% from last year).





The highest sale was 2955 East Valley Road which sold for $27,000,000 after being on the market for 18 months. Listed by Compass, the 8-acre property was originally offered at $35,000,000.









Another significant sale was 640 Stonehouse Lane, which was originally listed at $6,195,000 by Berkshire Hathaway HomeServices and sold for $5,579,500 after 129 days on market. The French Country manor sits on just over an acre off East Valley Road.




Of the 7 on-market sales, 6 were sold by Berkshire Hathaway HomeServices (either on the listing side, selling side, or both!).



For more information on the Montecito market, contact us at (805) 450-6233 or Nancy@Kogevinas.com -- we'd love to hear from you!



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Nancy Kogevinas

Luxury Collection Director

805.450.6233

Nancy@Kogevinas.com

DRE: 01209514

Berkshire Hathaway

HomeServices California Properties

1255 Coast Village Road 102C

Montecito, CA 93108

DRE: 01317331

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©2020 Berkshire Hathaway HomeServices California Properties (BHHSCP) is a member of the franchise system of BHH Affiliates LLC. BHH Affiliates LLC and BHHSCP do not guarantee accuracy of all data including measurements, conditions, and features of property. Information is obtained from various sources and will not be verified by broker or MLS. Buyer is advised to independently verify the accuracy of that information.