Montecito Real Estate Market Snapshot
So many buyers, so few listings - and another week where Closed + Pending Sales outpaced New Listings. A slower market? Yes. But, with lessening inventory (currently down to 35 Active Listings) there is a unique opportunity for Seller’s to achieve success and great prices.
Last week’s 2 New Listings, have both been on and off the market previously and are relisted at slightly lower prices.
350 Calle Elegante is a large versatile home with ocean and harbor views on the border of Montecito and Santa Barbara on Eucalyptus Hill.
1850 Jelinda at 8100 square feet on 2 acres, this architectural residence is located in Ennisbrook, one of Montecito’s favorite gated communities.
1284 Mesa Road was among the Closed Sales last week — this romantic property is located walking distance to the lower village and spent 6 months on the market earlier this year before selling off market last week. Designed by George Washington Smith in 1920 and carefully renovated over the years, it last sold in 2015 for $8,400,000 and closed last week for $14,500,000 - a whopping 42% appreciation in 7 years.
For more insider details, don’t hesitate to call or text.