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Montecito Real Estate Market Snapshot

Updated: Sep 29, 2022

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.
 

That sums it up for last week!

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