Weekly Market Snapshot
Last week was slightly slower than our new norm in Montecito with fewer homes sold and fewer homes going into escrow. A big sale on Channel Drive closed last week for $31,250,000, which has been on and off the market since 2003. Large Montecito estates are getting scooped up, 3 properties over $10M went into escrow last week; however there is still a variety of price points available in Montecito - approximately 59 homes are currently for sale ranging from $1.8M to an astounding $62M.
What happened in Montecito Last Week?
March 21st - March 27th
Closed sales were down 35% week!
797 Ashley Road was reduced from $6,695,000 to $6,390,000.
FUN FACT: There were three new rentals that came on the market in Montecito this week.
Newly Listed at $5,995,000
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