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
Pending sales were up last week.
New listings plummeted last week.
FUN FACT: The average number of days on market for October 2021 was 56, compared to 2020 which was 198.
1790 Glen Oaks Drive
Newly Listed at $1,695,000
The promise of a dream fulfilled awaits! Unleash your imagination and let the land be your guide and inspiration for something extraordinary. Every angle of this 1+ acre parcel explodes with expansive mountain views. Lined with mature oak trees and a creekside setting, the land is a peaceful canvas primed for your dream to unfold. This private yet easy to access property has an active water meter, utilities at the street and a stone-wall entry.
