How’s the Market?

May 22, 2023

I got a text this morning asking me to complete a survey on the state of State Street and it made me reflect on all the changes (improvements? I guess those are in the eye of the beholder!) happening in Montecito. Of course there’s the Olive Mill roundabout (is it just me, or did it seem to happen pretty quickly once they got going?). Then there’s the development in the works at the Bird Refuge and the move from downtown to our Upper Village by Restoration Hardware and Rooms and Gardens. And now the little strip of shops adjacent to the Country Mart (Starbucks, Sakana, Stretch Lab…) is going to get an expanded patio with outdoor seating. Pretty spiffy if you ask me. Check out the rendering below and read more here.

Last week was busier in Montecito, with 8 New Listings, 6 Closed Sales and 5 Pending Sales. Two of the new listings aren’t really “new.” 850 Romero Canyon is a classic Montecito estate with a pool, southern exposure with lovely vistas and guest house – it was listed earlier this month and didn’t sell; it came back on the market last week for about $300k less. Another favorite, 231 Butterfly Lane, is a remodeled home with stunning landscaping just blocks away from The Montecito Club. It sold at the beginning of this year for $4.8M and has come back on the market for $5.95M. It will be interesting to see if the demand for this “walkable” location warrants a $1M+ appreciation in a few months!

What happened in Montecito Last Week?

May 14th – May 20th

8 NEW LISTINGS

5 PENDING SALES

a bit more data

Below is our weekly Montecito Market Summary.

property story

2025 CREEKSIDE ROAD • MONTECITO
$3,450,000

Montecito Valley Ranch • 2.49 Acres • Flat Pastoral Parcel
Mountain and Landscape Views • Surrounded by Prestigious Estates • Convenient Location to Montecito and Summerland
Unlimited Possibilities for the Ultimate Montecito Legacy

The promise of a dream fulfilled awaits! A blank canvas with both the Pacific Ocean and Santa Ynez Mountains at your door, is just waiting to be transformed into the home of your Montecito dreams. A flat 2.49 acre pastoral parcel sits behind the private gates of Montecito Valley Ranch and is conveniently located to world-class beaches, hiking, fine dining, shopping and more.