Weekly Market Snapshot
Real estate shifted down into 2nd gear last week, however, there were more price changes than we have seen in some time, perhaps it's adjusting to the slightly slower market or just some overambitious pricing by sellers. Some interesting, luxury sales closed last week - 424 Meadowbrook Drive sold off market for $10.25M. It last sold in 2017 for $6.2M. Then there was 945 Lilac Drive, a property that was on the market for nearly a year listed at $16.995M in 2020. It came back on the market in May 2021 for $17.495M and sold in less than 30 days - demonstrating that prices for the right properties are still on the rise.
What happened in Montecito Last Week?
July 4th - July 10th
Pending sales were cut in half last week.
New listings are down for the first time in awhile.
FUN FACT: This modern neoclassical villa is back on the market!
1325 W Mountain Drive
Newly Listed at $3,650,000
Outstanding views, open space, peace, and tranquility are the hallmarks of this hilltop
villa. Strolling down the shaded, treelined driveway transports you into a different, slower world where nature reigns supreme and a life of understated luxury awaits. Freshly updated with a modern flair, this 3BD/2BA home is an ideal Santa Barbara retreat.
