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Weekly Market Snapshot

Today marks the “official” kick off of the holiday season and the start of all the year end reviews and predictions! Before we get to all that, let’s look at some Montecito stats: October 2021 has had a total of 19 sales with an average sale price of $6,692,866 and median sale price of $5,558,473. Last year there were a total of 47 sales in October, but the average sale price was $5,899,534, (the average sale price this year is 12% higher than 2020), and the median sale price was $2,650,000 - 2021 median prices have more than doubled. The takeaway - the total number of sales may be down, but prices are up!


What happened in Montecito Last Week?

October 24th - October 30th



5 HOMES SOLD


Pending sales were up last week.


4 LISTINGS WENT INTO ESCROW



New listings plummeted last week.

1 NEW LISTING


1 PRICE CHANGE


FUN FACT: The average number of days on market for October 2021 was 56, compared to 2020 which was 198.