Weekly Market Snapshot
Let's talk price! Are we going up, down, in a holding pattern? Well, here’s the latest: So far this month in Montecito there have been 7 sales, 6 were over $5M and 3 of those sales were over $10M. Last year there were a total of 17 sales by this time in January, 8 of which were over $5M but only 1 was over $10M. Though 2022 seems to be moving at slower pace than 2021, the average price is trending higher. This is definitely due to so few properties on the market; but also reflects the demand for high quality, exceptional properties like 2692 Sycamore Canyon Road which came onto the market last week for $16,850,000 (see video below). What happened in Montecito Last Week? January 16th - January 22nd 2 HOMES SOLD 5 LISTINGS WENT INTO ESCROW 3 NEW LISTINGS 1 PRICE CHANGE FUN FACT: The highest sale so far this year in Santa Barbara and Montecito was 2929 E Valley Road, which closed off-market for $17,500,000. A vibrant and versatile lifestyle is matched only by the timeless design and outstanding ocean and mountain views from this 2.4 acre Montecito estate. A youthful energy permeates throughout the residence and property where old and new coexist in a seamless blend. Taking full advantage of the Mediterranean climate in this coveted Montecito location, the property was designed for today’s lifestyle with indoor and outdoor rooms that flow together and invite living life in full color. That sums it up for last week! Click here to view more of our current featured listings.