Montecito Real Estate Market Snapshot
The second week of July had zero closed transactions in Montecito - definitely a notable change and further indication of the dwindling supply of properties available. Buyers are still in the market in abundance, although somewhat more discerning and questioning prices for many listings and distracted with vacations. There were 6 New Listings all at or under $7 million (with 1530 San Leandro leading the charge in the Hedgerows and garnering activity reminiscent of 2021 - underscoring that homes in the right location, and priced well, are attracting strong interest and buyers!). Montecito saw 4 Pended Sales, however 29 Seaview Drive returned to market days later, and 7 Price Changes, 3 of which were land sale price reductions.
Summer has traditionally been a great time for buyers to get the best deals as the competition is lighter, and this Summer seems to be proving that is true in Montecito. Let me know if you want the inside story on Montecito real estate.
What happened in Montecito Last Week?
July 10th - July 16th
1530 San Leandro Lane | Montecito