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Montecito Market Update: March 2020

Updated: Apr 17






Unpredictable, disconcerting, boredom, stressful- it’s all part of our new normal!

The word in Montecito is that deals are still happening and escrows are mostly staying together, although some with time extensions and moderate price adjustments. This has definitely been our experience with 5 of 6 escrows on track to close or closed in the last 2 weeks.


Across the broader Montecito market, there were 16 cancelled listings and 14 properties were withdrawn in the month of March - this is higher than previous months (February: 10 cancelled and 2 withdrawn). After the initial shock and confusion surrounding the coronavirus threat, we are seeing a nation and world making admirable adjustments to stay productive while distancing. In our world of Santa Barbara real estate, the pace is beginning to pick back up and buyers and sellers are looking and listing; making plans for a future that, now more than ever, involves a home that is a sanctuary.


Stay healthy everyone!



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Montecito Market Update: April 2020
Montecito Market Update: April 2020
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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.