Q3 - Montecito Market Newsletter
Updated: Oct 23
With the stampede fully underway, the question we are all asking is “when will it end?” This is quite a moment for Montecito real estate and it’s exhilarating and unprecedented but also understandable given the outstanding lifestyle of Santa Barbara. Many of the newcomers purchasing homes and estates along the Central Coast are not really new to the area — well over half or more of our sales are to locals and people with a strong connection to Santa Barbara who are making the move now instead of “someday.” Welcome home!
Q3 2020 - Montecito Sales
There was a staggering 141 sales in the third quarter of 2020.
Q3 2020 sales are 143% higher than the Q3 2019 which only had 58 sales. There were only 3 sales above $10M in 2019 with the highest sale being 3443 Padaro Ln ($23,000,000). This year there were 8 sales above $10M and the highest sale was 700 Picacho Ln, which sold off market for $44,500,000!
History was made this quarter in Montecito. Let's see how the year ends!