August Sets the Stage
School is back in session, and the 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
The Eucalyptus Hill home sits just outside both Montecito Union and Cold Spring school districts — a difference of only a few blocks that can matter for family buyers prioritizing either district.
Also more than a year on the market, Cedar Lane sold 20% below its original asking price, reinforcing just how much school district can impact price.
Looking into September
Ultimately, it’s the market that delivers the report card, and getting the price right can make all the difference as we head into fall.
What Happened in Montecito Last Week?
August 16th – August 22nd
weekly spotlight
Romantic Montecito Hacienda
549 Hot Springs Road | $10,995,000
Rooted in the quiet simplicity of a 1920s Andalusian farmhouse, this gated hacienda style compound reflects the architectural heritage of early Montecito. Designed for single level living, a collection of structures comes together to offer a 7 bedroom, 6.5 bathroom retreat across approximately one acre of lush, mature gardens.