Nancy’s Notes

May 13, 2023

nancy’s notes

The inside scoop on Montecito & Santa Barbara real estate.

I was at an event a few nights ago and someone remarked to me that “I want to move here, just like everyone else!”

Isn’t it funny how when you know what you want you instantly think someone is going to beat you to it? My response was to tell her that despite the current low inventory conditions, we are still having success finding good properties — it just takes patience, focus, grit and determination and that is something I know to be true no matter the market.

Now for the stats…

Montecito had a total of 10 sales in April 2023, with an average sales price of $8,048,250. The number of sales is down significantly compared to 2022 (24) and especially 2021 (44). However, the average sales price is up dramatically compared to recent years. The highest sale was 1850 Jelinda Drive, which sold for $18,000,000, 80% of its last list price, and it is now the highest sale we have seen so far this year in all of Santa Barbara County. There were 3 all cash deals last month in Montecito, which is down from the 12 cash deals we saw in March.

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