Weekly Market Snapshot
New listings stayed consistent last week but closed sales jumped upward. The summer months are known to be one of the busiest times in real estate and while business is steady, the story is still about dwindling inventory. Now that we are almost half way through the year it will be fascinating to see how the final 6 months of 2021 turns out. In 2020 July is when the real estate "train" started going FULL steam ahead. As seen in the Wall Street Journal's RealTrends report - the thousand top individual agents for 2020 saw their closed volume surge by 44.9% in 2020. Will 2021 follow suit? Will activity ramp up even more for the last 6 months of 2021? Only time will tell. What happened in Montecito Last Week? June 6th - June 12th 12 HOMES SOLD 5 LISTINGS WENT INTO ESCROW New listings were the same last week. 5 NEW LISTINGS! NO PRICE CHANGES FUN FACT: Three homes sold off market last week in Montecito. 7200 Casitas Pass Road Offered at $16,500,000 Celebrating mid-century Hollywood glamour, this 14.7 acre compound has been restored and expanded while retaining its rich history. A long, romantic driveway guides you to the highest point on the property and the Italian inspired, 4 bedroom main residence. Across the lawn and past the resort style pool and spa, the newly constructed 2 bedroom guest house takes its cue from the main residence and is complemented by a nearby 3 car garage, caretaker’s apartment and wine grotto. That sums it up for last week! Click here to view more of our current featured listings.