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First Quarter - Montecito Market Newsletter

Updated: Apr 20




What’s next? Now that we are all used to so much time at home, are we going to enter a new world of “upsizing” and “multi-generational” homes post COVID? Maybe.

For the last several years, the over-riding trend has been away from large estates and into smaller luxury properties that had all the amenities of grand estates without the upkeep. I believe that this trend will continue although it will be complemented by a re-purposing of larger estates into more modern, smart homes. A life of health, ease and security is what is trending now for affluent buyers and Montecito offers a plethora of housing options that are able to host extended family and friends for short and longer periods.

I am staying out of the prediction business, but based on the calls and emails I am receiving, buyers are still planning to make a move to Montecito when they find the right property. If you’re interested in getting a current “pulse” on Montecito real estate, please get in touch - I have lots of inside information to share about the who, what and where in Montecito.


Q1 2020 - Montecito Sales





There was a total of 53 sales in the first quarter of 2020.


Q1 2020 sales are 38% higher than the Q1 2019 which only had 33 sales. However, the largest sale in Q1 2019, 2955 East Valley Road, sold for $27,000,000 - 3.5 x larger than Q1 2020's largest sale, 1237 E Mountain Drive, which sold for $7,550,000.


Keep your eye out for the Q2 2020 update in July.



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Nancy Kogevinas

Luxury Collection Director

805.450.6233

Nancy@Kogevinas.com

DRE: 01209514

Berkshire Hathaway

HomeServices California Properties

1255 Coast Village Road 102C

Montecito, CA 93108

DRE: 01317331

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©2020 Berkshire Hathaway HomeServices California Properties (BHHSCP) is a member of the franchise system of BHH Affiliates LLC. BHH Affiliates LLC and BHHSCP do not guarantee accuracy of all data including measurements, conditions, and features of property. Information is obtained from various sources and will not be verified by broker or MLS. Buyer is advised to independently verify the accuracy of that information.