Montecito Real Estate Market Snapshot
Updated: Sep 29, 2022
Last week in Montecito we picked up the pace with 5 Pending Sales, including the showstopper up Toro Canyon Park Road listed at $19,950,000 and the 1 bedroom, 1 bathroom in Bonnymede opening escrow after only 5 days on the market.
There were 8 New Listings, one being a 2-parcel offering on Oak Grove nestled into the quiet-comfort and canyon of southeast Montecito; the most notable of the 3 Price Changes was on Rametto, a staggering $1M price reduction (!) for this big ocean view listing overlooking the Montecito Club. And there were 3 Closed Sales, two located in the Hedgerow and one an off market sale of a 100+ year old compound just steps from the upper village on E Valley Road,
Curious what your home might be worth? With national headlines declaring volatility and unpredictability, I've found Buyers are moving without hesitation on homes priced right.
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What happened in Montecito Last Week?
July 31st - August 6th
Inventory is finally on the rise! Realtor.com predicts a jump of 15% in the for-sale housing stock — a sharp rise from just 0.3% at the beginning of the year, providing much needed options for buyers.