Last week was the week of six – six new listings, six pending sales and six homes sold in Montecito! We saw the largest sale so far this month, 851 Buena Vista Drive, which closed for $25M. Set on over 2 acres with 7 bedrooms/ 14 bathrooms, a guest house and a pool house, this East Coast inspired Montecito estate sold for $2,054 per square foot after being on and off the market for almost a year and originally asking $35M. There have been three sales over $10M in March thus far, and the median price per square foot is $2,824. Although analyzing pricing by square foot is not the best or only measure, it is a good benchmark and really tells the pricing story in the luxury segment of the market.
What happened in Montecito Last Week?
March 13th – March 19th
6 HOMES SOLD
6 LISTINGS WENT INTO ESCROW
6 NEW LISTINGS
1 PRICE CHANGE
FUN FACT: There have been 20 sales so far this month in Montecito.
2692 Sycamore Canyon Road | Offered at $16,850,000
A vibrant and versatile lifestyle is matched only by the timeless design and outstanding ocean and mountain views from this 2.4 acre Montecito estate. A youthful energy permeates throughout the residence and property where old and new coexist in a seamless blend.
That sums it up for last week!
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