Weekly Market Snapshot
There was a decline in pending sales last week in Montecito for the first time in a while. Though 6 new listings came on and 12 homes sold, only 2 listings went into escrow last week. That is 10 less pending sales than the week prior and lowest number of pending sales we have seen in quite some time. However, the market this year compared to 2020 is still mind blowing. Montecito's median home price for April is up nearly 50% compared to 2020 and the number of cash sales are up 40-60%! Wow...just WOW.
*Graph is from Fidelity National Title Group-Santa Barbara
What happened in Montecito Last Week?
May 9th - May 15th
Pending sales were down significantly last week.
NO PRICE CHANGES LAST WEEK
FUN FACT: Prices in Montecito are up nearly 50% compared to 2020!
Offered at $16,500,000
Primoya Farms is a coastal estate of unrivaled beauty and splendor prominently sited above the Pacific Ocean and overlooking vast swaths of rolling hillsides and breathtaking mountain and ocean views. Originally conceived as a Palladian style West Coast residence for Dame Judith Anderson, this magnificent estate now plays host to a Cherimoya orchard, avocado trees and a petite vineyard all surrounded by serenity, peace and privacy in Carpinteria.