Properties that POP!
Are you wondering what is happening with prices and when the music will stop?
So am I…. We continue to have a lot of demand in Montecito, which is great for all sellers, but the inside story is also on many of the off-market sales and in particular, the staggering prices some properties are getting.
The thought that comes to mind is “if it’s special, they will pay” and that rings true for a sale last week on El Bosque. This Montecito jewel has raised the bar and it doesn’t feel like the music is stopping anytime soon. 655 El Bosque Road sold off market for the second time in three years for a staggering $9.3M - this is 47.6% increase in sales price from when it sold in 2018. For more details on the property click here to view the previous MLS listing.
280 Middle Road was on the market in 2018 for $5.9M but did not sell. It sold in March 2021 for $7.2M after only 7 days on the market.
2662 Sycamore Canyon Road sold in 2020 for $9.4M. Less than 12 months later, without any dramatic changes made to the home, it closed for nearly $2M more at $11.2M!
For more interesting sales and inside scoop on all things real estate, never hesitate to reach out.