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Montecito Real Estate Market Snapshot

Updated: Nov 20, 2022

Outside the temperature might be cooling, but the market continues to show healthy signs of heating up. Debunking national norms, Buyers are circling and desirable listings are finding their way to the market at a steady pace. It’s sweater weather, daylight savings time has ended and fall is in full swing!


Last week in Montecito we saw 4 NEW LISTINGS, 4 PENDED SALES and 1 CLOSED SALE with 2 PRICE REDUCTIONS.


Of the 4 ‘New Listings’, 2 Listings were re-lists at reduced prices:

  • 1530 Willina Lane, held on and off market over the last 5 months after selling in April for $5,400,000, is now offered for $5,850,000; a $150,000 decrease from its previously listed price of $5,995,000 in August.

  • 1 Miramar Ave was re-listed at nearly 17% less than its original list price of $15,500,000, and is back on the market at $12,900,000.

The surest sign of Buyer’s increased activity was clear in the number of listings that went into escrow or sold last week after a long time on the market…

Inventory remained at 36 ACTIVE LISTINGS in Montecito, and to check out the scene across Santa Barbara, click below for luxury listings across the county (+$2M):

What happened in Montecito Last Week?

October 30th - November 5th



 


That sums it up for last week!

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