Weekly Market Snapshot
This week felt a moment of pause in Montecito - only 3 homes sold, 4 pending sales and 5 new listings. All of these stats are down from the week prior. Though there were only 3 sales, ALL of them sold significantly over asking price. People want the few listings on the market and they are willing to pay!
What happened in Montecito Last Week?
May 30th - June 5th
Pending sales were down by 50% last week.
New listings were slightly up last week.
FUN FACT: The most expensive property for sale in Montecito is 2535 Sycamore Canyon Road, with the price tag of $72.5M.
Newly Listed 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.