As summer approaches, we are starting to see a slow down, urgency is being replaced by distraction as graduations, long weekends, Mother’s Day, Father’s Day and holidays start to take center stage.
Many deals are definitely closing, don’t get me wrong (!) and overall, prices continue to show appreciation with recent data from the S&P CoreLogic Case-Shiller index
indicating a robust 6.4% year-over-year increase nationally in home prices as of February—the fastest growth rate since November 2022.
Even though deals are slower to come together, on our team we are experiencing a lot of showings in all price ranges, indicating that desire is there. I expect to see many of the great listings that are currently on the market start to sell over the coming weeks and months; for some, prices might be a bit lower than they are listed, but still great prices, despite the seasonal distractions.
What Happened in Montecito Last Week?
May 5th – May 11th
5 NEW LISTINGS
0 CLOSED SALES
4 PENDING SALES
weekly spotlight
White Caps Beach Club Is Coming to Summerland
Summerland continues to become 
more of a hot spot! Photographer Michael Haber is set to launch the White Caps Beach Club on the corner of Lillie Avenue and Hollister Street in Summerland, adjacent to The Nugget. Haber emphasizes the venture’s dual focus on community and enjoyment, encapsulated in the motto “eat, play, stay.” Culinary offerings come from a striking new food truck parked in front of his vintage 1963 Jeep Willys wagon, which appears to be pulling the setup. The menu features delights such as lobster rolls, lobster mac and cheese, crab cake sliders, tater tots, clam chowder, alongside selections of beer and wine. Recreational activities at the club include dining al fresco, games like backgammon and dominoes, and live music events with schedules yet to be announced. Accommodations for guests are provided in vacation rentals situated at the back of the property. Anticipate a discreet soft opening within the coming weeks, with plans for a more festive grand opening around Memorial Day.
