Quo vadis?
(Where do we go from here?)
An Election Bump
Historically, home sales increase the year after an election, outpacing election years in 9 of the last 11 cycles. This trend bodes well for 2025. Just last week, we noticed activity picked up noticeably in Montecito and Santa Barbara — momentum we expect to continue.
Positive Forecasts Build Optimism
While 2024 is expected to close with just 4.74 million home sales nationwide — the slowest since 1995 — forecasts predict a 14% rebound in transactions for 2025. Locally, Montecito’s average sales price reflects strong demand, up 18% year-to-date over last year and 14% higher than in 2022, positioning the area to thrive in the coming year…
Spring Always Comes After Winter
After years of high interest rates and slowed transactions, 2025 brings a renewed sense of optimism. Mortgage rates are expected to decline, and home sales are projected to rise — creating exciting opportunities in real estate.
What Happened in Montecito Last Week?
November 3rd – November 16th
3 New Listings
1 Closed Sale
1 Pending Sale
weekly spotlight
Bar Lou Brings Flavors of the French Riviera to Montecito
Montecito’s dining scene is about to elevate even further with the arrival of Bar Lou, a French Riviera-inspired restaurant coming to Coast Village Road. Helmed by the team behind L.A.’s Little Dom’s and Carpinteria’s Little Dom’s Seafood, Bar Lou will focus on farm-to-table cuisine crafted from locally sourced ingredients. By working closely with local farmers and purveyors, the restaurant aims to deliver some of the freshest fare in Montecito, perfectly complementing the area’s elevated lifestyle. We look forward to the opening – see you there!
