Weekly Market Snapshot
The first quarter of 2021 is nearly over and approximately 81 homes have sold in Montecito thus far. Rewind to last year, there were only 48 sales in the entire first quarter. Needless to say, 2021 is starting off HOT! There were 3 price changes last week, though not all price changes are reductions these days. Homes are even being re-listed at higher prices than they were in 2020 or even earlier this year. Stay tuned to see how it all plays out.
What happened in Montecito Last Week?
March 14th - March 20th
Closed sales are up 50% this week!
New listings are up by over 50% this week.
FUN FACT: Two listings are back on the market this week. Check them out here.
Offered at $26,500,000
The estate sits on a unique 2.9-acre promontory offering a rare 360-degree bird's eye view out to the Pacific Ocean and along the Santa Barbara coastline, harbor and Santa Ynez mountains. A light-filled galleria invites you into the formal dining room which leads through French doors to the exterior gardens and terraces. The formal living room is ideal for hosting important events as well as a place for quiet reflection in the afternoon. The sumptuous kitchen and butler’s pantry open to an inviting family room with a fireplace and leading to another informal living room with a bar. Both rooms flow seamlessly out to a large patio, the pool and outdoor kitchen on one side and a peaceful courtyard artfully lined with stones and colorful tiles on the other side, all working in harmony and breathing life into the spirit of the space.