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Weekly Market Snapshot

It felt slower in Montecito last week, but that is not because of a lack of demand, it's due to the scarcity of supply. As the story goes, there are not enough homes on the market to keep up with those wanting to call Montecito "home." This is why some are relying heavily on their real estate agents to find them off market homes that the owners are willing to sell. Two big off market sales took place last week - 699 San Ysidro Road ($28,000,000) and 857 Picacho Lane ($9,500,000). The summer has almost come to an end, kids are back in school and buyers in all price ranges are still on the hunt.


What happened in Montecito Last Week?

August 22nd - August 28th


The same number of home sold last week.


7 HOMES SOLD


Pending sales were up by one last week.


4 LISTINGS WENT INTO ESCROW


New listings are slightly up!


7 NEW LISTINGS!


1 PRICE CHANGE

851 Buena Vista Drive was reduced from $29,950,000 to $27,750,000.



FUN FACT: Did you know there are 142 single level homes in the exclusive Birnam Wood community of Montecito. They were built in the 1970s and continue to be a sought-after destination for home owners.

2815 East Valley Road

Offered at $4,425,000

A bold yet refined presentation, this stylish Montecito hideaway blends the beauty of nature with everyday living. Tucked away down a double-gated driveway, framed by mature oaks and stone accents, you are welcomed to nearly one acre of lush grounds emphasizing tranquility, while also being conveniently located to all Montecito has to offer. 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.


That sums it up for last week!

Click here to view more of our current featured listings.

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