Weekly Market Snapshot
Dare we say it was slow for Montecito real estate last week!? Only 5 homes sold, two of which were off market, and only 2 new pending sales. This is the least amount of pending sales for one week that we have seen in some time. However, the talk of the town was 266 Penny Lane - the property sold nearly $1M over asking price at $6.9M after only 6 days on the market. Though inventory is less than abundant, with a mere 54 active listings, there are still many great properties to buy out there!
What happened in Montecito Last Week?
September 5th - September 11th
Pending sales were WAY down last week.
New Listings were down last week.
792 Chelham Way dropped from $3,499,000 to $3,200,000
FUN FACT: The most expensive home for sale in Montecito currently is 670 Hot Springs Road, listed for $74M. Take a peek inside here...
848 Hot Springs Road
Offered at $24,850,000
High style and luxury living, this singular estate is unmatched for vision, flair and architectural detail. Villa Tragara was conceived with passion and executed with precision. An effortless blend of global architectural distinctions, commanding an idyllic 2.45 acres in a location best described as Montecito’s 50 yard line, this estate is the definition of one-of-a-kind excellence.