Hard to believe we are more than half way through March, 2023, and one of the wettest and coldest months on record! Despite all the rain, we have had some great sales along with a few notable new listings.
Greater Montecito had a total of 6 sales in February 2023, 3 of those sales were in Montecito proper, while the other 3 were technically in Santa Barbara and Summerland, although still “93108.” This is down significantly from February, 2022 (27) and 2021 (29). It is no longer news that the drop in sales is due to low inventory, a rocky stock market and higher interest rates. The highest sale was 751 Buena Vista Drive, which sold for $17,500,000 and is the highest sale we have seen so far this year in all of Santa Barbara County. There were no all cash deals last month in Montecito, which is unusual.
Behind the scenes there are properties in all price ranges available or getting ready to come on the market so let us know if you want a sneak peek!