"Be fearful when others are greedy, and greedy when others are fearful."
-Warren Buffett
When headlines shout about falling home sales and price cuts, it’s easy to assume the sky is falling. But perspective is everything — and here in Montecito, we see opportunity.
Nationally, the housing market hit a bump in March, with existing home sales dropping 5.9%, the steepest monthly fall since 2022, according to The Wall Street Journal. Rising economic uncertainty and stubbornly high mortgage rates have made buyers more cautious, and sellers in many regions are adjusting their expectations.
Here in Montecito, the numbers tell a more strategic story: since April 1, we've seen 30 new listings, 18 closed sales, and 14 price changes. Of those 18 sales, 14 homes went under contract within just 30 days— a clear sign that when properties are priced properly the market responds.
Nationally, about 24% of listings reduced their prices in March, the highest share for any March since at least 2018, according to Zillow. Buyers today are serious, informed, and ready to act, but presentation, and pricing precision open the door to success.
What Happened in Montecito Last Week?
April 20th – April 26th
weekly spotlight
A Rare Find
2535 & 2605 Bath Street | $1,775,000
Beyond tall privacy hedges and through two charming, gated entrances, a rare opportunity reveals itself, two distinct residences thoughtfully arranged on a single, expansive lot, offering a harmonious blend of versatility, privacy, and effortless California living.
The allure lies in its flexibility, whether as a welcoming retreat for extended family, a refined guest haven, or a coveted income-producing property, with each home offering separate utilities.
