Montecito Market Update: May 2020

Spring market stats are in! Buyers from near and far have been snapping up homes in Montecito, sometimes without even seeing them in person. Compared to May 2019, both average sale price and median sale price are up 8.13% and 7.8% respectively, and the level of interest continues to build across all price ranges. As always though, every sale has its own story! The +/- $5M price range is where the action is at the moment with Montecito homes in this range selling at a fast pace often with multiple offers.  Despite all this activity, there are still many good opportunities for buyers and now is the time to make a move, as in many cases prices still have not caught up with demand.