Weekly Market Snapshot
At this point in July last year Montecito had 26 closed sales, with the highest being 1565 East Valley Road at $6,270,000. This year July 2021 sales have been slashed to 11, however we have seen significantly more luxury sales. The four highest sales so far this month total approximately $51.5M; to match that $51.5M mark in July 2020 it took the 14 highest sales.
What happened in Montecito Last Week?
July 11th - July 17th
Pending sales doubled last week.
New listings are slightly up again.
916 Aleeda Lane had a slight price drop from $2,990,000 to $2,950,000.
FUN FACT: The highest sale so far this month has been 945 Lilac Drive, which sold for $17,082,282. It was listed for over a year for $16,995,000 and didn’t sell, coming off the market for a few months and then re-listing in May at a higher price and selling within 30 days.
Newly Listed at $4,425,000
Evoking a sense of calm, the 4 bedroom/ 4.5 bathroom main house was custom built with rich Brazilian wood, towering beamed ceilings and walls of glass, encouraging a seamless communication between the interior and exterior. Spacious living spaces which flow into expansive entertaining decks cultivate a sleek and modern lifestyle. With endless possibilities, this property enjoys an idyllic 2 bedroom guest house with a living room and kitchen, encouraging privacy and solace for your guests and also serving as the perfect home work space. The home evolves from the surroundings, drawing you outdoors. Meandering throughout the peaceful grounds, dotted by citrus trees, unique succulents and a hidden spa will put your soul at ease.
