Weekly Market Snapshot
Whew, what a week! With 12 listings going into escrow, needless to say there was a lot of action in Montecito last week. The talk of the town was 1568 Ramona Lane, it came on the market and went pending in 6 days with 16 offers; not only did it sell for $900,000 over asking price, but it went into escrow last week and closed YESTERDAY! Now that is a quick escrow.
Overall, January 2021 (21 sales) ended with approximately 31% more sales than January 2020 (16 sales) - a strong start to what we expect will be another successful year for Montecito real estate. Stay tuned for our weekly updates every Monday and subscribe to our blog here.
What happened in Montecito Last Week?
January 24th - January 30th
The number of pending sales is double what is was last week...
New listings are down by over 50% this week...
FUN FACT: Montecito saw 21 sales in January 2021, that is 31% higher than the 16 sales Montecito had in January 2020.
Offered at $10,950,000
With world class amenities and a five-star location just moments to Butterfly beach, the lower village of Montecito and Four Season’s Biltmore, this LEED certified residence is in a class by itself. The main house has four bedroom suites and is complemented by a pool cabana with a full bath. Lushly landscaped to maximize privacy and enhance the outdoor experience, the exteriors center around a long pool and spa, sunken fire pit and masterfully designed decking and terraces, all bathed in sunlight and ocean breezes.
