Montecito Best Buys report: Increased Movement in the Low $3,000,000+ range in August

Posted on Aug 30, 2013

This past month saw a considerable number of homes in the low $3,000,000+ range go into escrow and close escrow. Ok, it’s only a total of five homes combined, but that is considered solid movement based on past months in this price range … it’s more than one a week closing escrow or going under contract. The low to mid $3’s is a prime price range in Montecito, as one usually will get an acre of land (or sizable lot), a good neighborhood, three or more bedrooms, grounds to enjoy, perhaps a pool, view, etc … features not likely to be found in homes priced just a few hundred thousand less, or under $3,000,000…


Homes that sold this past month and those that went under contract and into escrow this past week in the $3,000,000 range include:

PENDING (in escrow within the past week)

east valley 1381 East Valley Road listed at $3,195,000 – 1 +/- acre in upper village, close to Montecito Union School down private lane.





rockbridge875 Rockbridge in Riven Rock listed at $3,250,000 – just over one acre with contemporary pool home in Cold Springs School District.




el bosque600 El Bosque listed at $3,250,000 – 3/4 +/- acre in upper village, spanish home in Montecito Union School District.






All of these homes offer prime Montecito locations and street placement, which are also key elements when purchasing a home over $3,000,000.



SOLD (closed escrow in the past month – lower $3,000,000 range)

lilac670 Lilac on over an acre, was listed at $3,500,000 and closed for $3,050,000, is located in the Montecito Union School District and had some historical significance attached.





arcady730 Arcady was listed at $3,295,000 and closed escrow for $3,200,000, was appx 4,000sqft, pool, pool house, Cold SPrings School District.





There are a number of remaining good buys in Montecito in the low to mid $3,000,000 range. Please visit my website (link below) to see my picks for best buys in all price ranges and be sure to check out the listing on Woodley at $3,000,000 and +/- 5,000 square foot home and the listing on Cima Linda at $3,250,000 with ocean view decks, 4 bedrooms, privacy and a pool.


Thanks for reading.