Montecito Market Update: April 2020

What’s up, what’s down and what is going to happen? No one knows. But even though activity and showings are way down, there have been some impressive sales in the last month. In some cases, Seller’s have taken it on the chin, as they say, with hefty discounts to their original asking prices. But in the +$10M market, this is a trend that was already well underway, so it isn’t entirely linked to COVID. In many other instances, primarily in the $2M-$5M range, we have seen multiple offers. And, in April we had a mini-surge in the Montecito beach condo market with many condos going into escrow at Bonnymede and Montecito Shores. For the sales that caught my attention this past month, click here. This was also the month that “Pocket Listings” became a thing of the past and the National Association of Realtors officially banned any listings from being marketed without being in the Multiple Listing Service. As always, don’t hesitate to get in touch to discuss Montecito real estate.

Nancy Kogevinas

Luxury Collection Director


DRE: 01209514

Berkshire Hathaway

HomeServices California Properties

1255 Coast Village Road 102C

Montecito, CA 93108

DRE: 01317331

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©2020 Berkshire Hathaway HomeServices California Properties (BHHSCP) is a member of the franchise system of BHH Affiliates LLC. BHH Affiliates LLC and BHHSCP do not guarantee accuracy of all data including measurements, conditions, and features of property. Information is obtained from various sources and will not be verified by broker or MLS. Buyer is advised to independently verify the accuracy of that information.