August Sets the Stage
School is back. But summer isn’t over and Montecito’s late-summer market is setting the tone for fall.
Montecito has 85 homes for sale and another 20 pending. So far this month 8 homes have closed, nearly even with the 9 sales recorded at this point last year. And the month’s high and low sales each tell their own story.
High Sale | 650 San Ysidro Road | $14,000,000
After more than a year on the market, this architecturally significant property sold 22% below its original asking price. A reminder that architecturally significant homes can be challenging to price and take longer to sell, often appealing to a smaller buyer pool.
Low Sale | 31 Cedar Lane | $3,200,000
Location defined this month’s low sale. The Eucalyptus Hill home sits just outside both Montecito Union and Cold Spring—a distinction of only a few blocks that can matter for family buyers prioritizing either district.
After nearly a year on the market, Cedar Lane sold for $3,200,000—20% below its original $3,995,000 asking price and $150,000 below its final list price.
Looking into September
The question now: How many of those 20 pending sales will close? The fall market starts there.
What Happened in Montecito Last Week?
August 16th – August 22nd
weekly spotlight
A+ in Montecito
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