Tag archives: housing market

I am pleased to report there were 15 Montecito homes that closed escrow in May (sold/changed owners), according to the Multiple Listing Service (MLS). This is up considerably from just four that sold in April, though the number is down about 30% from the 22 homes that sold in the same month (in the MLS) […]

The Montecito Heat Index illustrates demand for Montecito single-family homes in five price sectors. By identifying buyer demand, (signed contracts) rather than sales (closed escrows), we create a forward-looking indicator of market strength rather than sold data often more than a month old.  And since real estate activity fluctuates seasonally, today’s Heat Score is compared […]

As the local climate starts to shift into something resembling a mid-season, pre-summer pattern (both with the weather and with real estate sales), we can feel it in the air… the upcoming graduations in local schools, college students coming back to visit families and reconnect with their friends in town, residents preparing to head out […]

Montecito continues to move forward in repairing and rebuilding after the damage caused by the debris flows of January 9. As an example, as I write this, a local couple I know is having their severely damaged home demolished in preparation for building a new home.  These friends had mud, boulders, huge trees, and a […]

The question being asked of real estate agents in Montecito is simply, “How is the Montecito real estate market doing?” This question comes, of course, in the wake of the recent deadly debris flow that shut down the 101 freeway for weeks, took the lives of 23 of our friends and neighbors, and damaged or […]

More people every day are foregoing life in suburbia for a more connected, varied, and mobile urban lifestyle. And it is small, sophisticated cities that are getting most of the attention. Santa Barbara, with extraordinary cultural and entertainment options, offers a sophisticated, small-city lifestyle second to none. There are, of course, official city boundaries, yet, […]

While attempting to get a grasp of what is happening in the real estate market in Montecito following the debris flow event, it has been difficult to move past the fact that these are not only homes, properties, and assets, they are places where families and friends live, or lived. That said, it is not […]

I am enjoying the sound of rain dancing on the roof of my home in the upper village, and for the first time this winter, I am not concerned nor have I been ordered to evacuate. I attribute my current comfort level to the teams of experts, engineers, truckers, and laborers who are helping bring […]

For most residents of Montecito, a large portion of their investment portfolio and net worth is tied up in the value of their home. What will be the long- and short-term impact of the twin tragedies of the Thomas Fire – the largest in California history – and the destructive 1/9 debris flow on real […]

It was difficult to approach writing a year-in-review article, when faced with the recent calamitous episodes in Montecito. Then the hills I hiked every week came down onto our fair town the morning of January 9, many of us lost – or know someone who lost –family, friends, co-workers, even their homes and property. My […]

It was a challenging holiday season Montecito residents experienced under the cloud of smoke and ash created by the recent Thomas Fire, the largest such wildfire in California history; many of us were forced to spend weeks miles away, having been evacuated for a substantial part of December. Our hearts go out to those who […]

If you follow this column, you have likely heard me mention the lack of new listings in Montecito over the past six months or so. This lack of new housing inventory is never more evident than it is on the Montecito broker-agent open house tours on Wednesdays. Many real estate agents look forward to broker […]

The Montecito Heat Index is a snapshot of demand for single-family homes in five price sectors. Rather than a measurement of completed sales, typically referred to as lagging data, the Heat Index looks at homes currently under contract resulting in a more accurate picture of market demand. And as real estate activity is seasonal, today’s […]

For whatever reason, the available housing inventory for sale under $10 million in Montecito continues to be low, and this time of year, we don’t expect to see a lot of new homes hitting the market. That said, there are plenty of properties to choose from in most price ranges over a million dollars.  So, […]