Montecito Real Estate Market Snapshot
I hope your weekend was full of the spirit and magic the holiday season brings.
As one might expect, there were no new listings, closings, pending sales or price changes in Montecito last week, but we’ve provided a round-up of off market sales that closed this last quarter heading into the new year.
1616 E Mountain Drive – this custom estate built in 2002 after being purchased in 1996 as a 3 acre parcel for $1,595,000, has big ocean and mountain views and closed last week for $17,500,000.
1284 Mesa Road - $14,500,000 a romantic property located within walking distance to the lower village, spent 6 months on the market earlier this year before selling off market. Designed by George Washington Smith in 1920 and carefully renovated over the years, it last sold in 2015 for $8,400,000 and closed for $14,500,000 - a whopping 42% appreciation in 7 years.
2030 Birnam Wood Drive - a 3 bedroom, 4 bathroom home by Don Nulty and built by Giffin and Crane sold off market after multiple offers for $8,287,000. One of three off-market sales in Birnam Wood this year, with only 5 total sales recorded in the desirable gated golf community in 2022.
125 Santa Isabel - located in the desirable Lower Village Montecito Oaks neighborhood it reported it’s off market sale from earlier this year for $4,400,000, the highest sale in that neighborhood to date and the only sale in the neighborhood recorded this year. The last sale was 2021’s then record sale on 150 Santa Elena Road for $3,568,500.
830 Rockbridge Road - $4,000,000 sold around the end of September/beginning of October and was the 5th highest land sale of the year in Montecito (the highest closing for $7,250,000 at 850 San Ysidro Road).
THERE ARE 25 ACTIVE LISTINGS IN MONTECITO, and below are quick links to luxury listings (+$2M), around town: