Montecito Real Estate Market Snapshot
A noticeable boost from last week's activity, there were 6 new listings in Montecito this week - including a Dramatic Garden Estate for $22.5 million that was once host to the music pavilion on the original Arcady Estate, and a stunning ocean view Mediterranean Masterpiece from local architect Don Nulty for $13.5 million. In addition, there were 3 pended sales, one Hedgerow property pending after only 6 days on market. We saw 4 price reductions, with 544 Santa Rosa Lane dropping it's listing price by $1 million dollars. Interestingly, there were 4 closed sales, all under $4 million, and each in need of updating.
The Summer market is alive and well - we know of several new listings in the Coastal Zone coming soon so please reach out for more details!
What happened in Montecito Last Week?
July 17th - July 23rd
840 Ivy Lane went into Escrow on 7/13 and just 5 days later is now back on the market at the reduced price of $6,950,000.