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Weekly Market Snapshot

It was a welcome sight last week to see 7 new listings come on the market. On the other hand, only 2 homes went into escrow, which is the lowest we have seen in some time. As far as the price point, the sweet spot for both the pending and closed sales seemed to be $3.5-$4.5M. This is a lower average than we have seen in the last few weeks.


What happened in Montecito Last Week?

October 17th - October 23rd



4 HOMES SOLD


Pending sales were down last week.


2 LISTINGS WENT INTO ESCROW



New listings more than doubled last week...finally!

7 NEW LISTINGS!


1 PRICE CHANGE

848 Hot Springs Road dropped from $24,850,000 to $19,995,000!



FUN FACT: 1453 Bonnymede Drive is back on the market for $28M - an ocean-front estate located in Sea Meadow.


2150 Ortega Ranch Lane

Newly Listed at $16,850,000