Who Sets the Price? 

Five days. Multiple offers. Above asking.

That's what happened this week at 1333 E. Valley Road. Not exactly the quiet week we expected before the Fourth of July.

Seasonally, activity does slow this time of year. But luxury real estate has a way of surprising us, and when buyers see an opportunity, they don't wait.

So what determines the highest sale price? Competition.

Montecito's deepest buyer pool is between $5M–$7M, where the right combination of presentation, positioning, and pricing can quickly create urgency. Above $10 million, the buyer pool naturally becomes smaller, making momentum harder to build.

The numbers tell the story.Nearly half of all homes in this price range sold within 30 days, averaging 99% of asking price. Homes that lingered beyond 121 days ultimately sold for 91% of asking price—and just 87% of their original asking price.

So, who sets the price? The market.

And when buyers see an opportunity, the market follows.

What Happened in Montecito Last Week?

June 28th – July 4th

weekly spotlight

The Perfect Summer Pairing

A great book. A spritz. A swimsuit.

Join us at The Post on Wednesday, July 22, as we celebrate the launch of Robin Maguire's new novel, The Weight of Sunshine. Enjoy sips from Little King Coffee, summer style from Malia Mills, and one of those effortless Montecito afternoons that reminds you why we love living here.

See you there!

That sums it up for last week!

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