Tag archives: housing market
While available housing inventory in Montecito may be lower these days (about 120 homes and condos currently on the market; in years past that number would be 150 or more in a January), there are still options of styles and conditions of homes in every price range. Each day I find it is interesting to […]
If there was a question about whether home sales have been slowing in Montecito in recent months (and other higher end areas around the country), then the dismal five escrows that closed in November and the only one home so far through December 9, together make quite a statement. Additionally, very few Montecito properties went […]
We have seen slower sales (only five closed escrows in Montecito during the first three weeks in November), and fewer new listings. Whether this is seasonal or an overall slowing market trend in higher end communities only time will tell. For now, we are happy to see prices staying strong overall, regardless of the number […]
For those in search of an estate-level home that boasts ocean views and increased acreage, the area at the eastern border of Montecito can offer a lot of both for the money. From a close-to-town, 270-degree ocean view contemporary home on nearly two acres, to an 80+ acre working ranch with pool and tennis court, […]
This is a good time to be looking for an upper-price range home in Montecito, as there are many well-priced properties available in the $4.5-to-$15 million range on the market. Some “done” homes for sale are the result of a developer’s remodel, and others were on the market a while ago and are being reintroduced, […]
How hot is Today’s Montecito Real Estate market? The Heat Index measures buyer choices for single family homes in five price sectors. Rather than sales data, typically at least 30 days old, the Index measures signed contracts resulting in present demand and thus market strength and direction. Since home purchases fluctuate seasonally, indeed monthly, today’s […]
It often surprises people when I tell them they can purchase a single-family home, on a good-sized lot, with amenities and upside potential, for under (and often well under) $2,000,000 in Montecito. In this price range, one is not likely to find a home with big ocean views or a done home on a large […]
We are regularly made aware of the damages done to homes and property, and the lost income to local businesses caused by this past winter’s dual episodes. There is one institution that has had a lot of both of these issues to contend with: the San Ysidro Ranch. This storied institution is the prize and […]
“What’s going on in the real estate market?” It’s a question agents field on an almost-daily basis, and as of late, my answer to my clients and others is that we are in an adjustment period, with the market, in general, feeling a period of softening. The number of properties sold in the first half […]
When one thinks of Montecito, images of the ocean, palm trees, Spanish-style architecture, San Ysidro Ranch cottages, and more come to mind. It is one thing to be able to live here, in such a special, small yet internationally recognized community, but it is another thing altogether to have a career that allows access to […]
There is nothing quite like this 6,350-sq-ft former “pool pavilion,” designed by Francis Underhill, on the market here or anywhere else in the Santa Barbara area, at least nothing I’m aware of and… and I can say this because I am not in the real estate business and have no stake or interest in this […]
The Montecito Real Estate market has done well during the past six months, considering what it, and the residents of Montecito went through, what with the fires and the debris flow and the resulting damage and insurance questions, not to mention the countless personal tragedies that occurred during those few hours on January 9. While […]
The Santa Barbara Heat Index is a snapshot of demand for single-family homes in the city of Santa Barbara described in our Multiple Listing Service as east and west of State Street. Rather than a measurement of home sales, often lagging by at least a month, the Heat Index measures homes currently under contract but […]
It is one thing to be fortunate enough to own an ocean-view home in the Montecito area. It is another thing altogether to own a 9+/- acre hilltop, with three substantial homes, three guest apartments/houses, three pools, three spas, parking for dozens of cars, and control of the entire end of this important lane in […]
According to broker Wendy Gragg, president of Montecito’s Distinctive Real Estate, many high-end buyers appear to be holding back from purchasing in Montecito, at least for the time being. Gragg sees the mid-year Montecito real estate market as slowly shifting from a seller’s market toward a buyer’s market. As more sellers list their homes, buyers […]
How hot is today’s Montecito real estate market? The Heat Index shows us buyer choices for single family homes in five price sectors. Rather than sales data (closed transactions) typically at least 30 days old, we measure current signed contracts (pending sales) resulting in an indication of present demand and market strength and direction. […]
Nothing says summer like a day at the beach… and where better to spend a day at the beach than in Montecito, at Fernald, Miramar, Hammonds, or Butterfly? The beach area in Montecito is bordered to the north by the 101 freeway, and to the south by the ocean, making it easy to define. While […]
From a mountain cottage to an impeccably well-designed ocean-view condo, from a mid-sized estate with a tennis court near town, all the way up to Oprah Winfrey’s mansion property, Montecito offers real estate options for anyone who can afford a purchase price of about $750,000 on up. To expand on that, an entry level condo […]
The Montecito Heat Index identifies demand for Montecito single-family homes in five price sectors. By measuring buyer demand, (signed contracts) rather than sales (closed escrows), we create a forward-looking indicator of both market strength and direction rather than sold data that are typically a month or more old. And since real estate activity fluctuates seasonally, […]
With sales in Montecito seeming to be back on track when compared with last year, (for the past six weeks anyway), with summer crowds making their way into Santa Barbara, and the re-opening of the Four Seasons Biltmore Hotel, it’s prime home shopping season again. Open houses are more frequent as the weather improves, sales […]
