The Montecito Market Movement

Posted on Sep 28, 2012

2012 started off as a good year in the Montecito Real Estate Market, the first 6 months far surpassing previous recent years in terms of sales volume.

Some say this was the economy getting better, others said people had held off long enough and now was time to buy. We were seeing a $10,000,000+ home selling every other week it seemed early on in 2012, slowing down more recently overall, but still many larger estates are pending and going into escrow every month pretty much.

This past month saw a slowdown in sales overall according to various sources in Real Estate Sales and Escrow that I spoke with, but that would be typical in September coming off a busy summer and heading into a November Presidential Election…

So let’s hope that we are on the mend here in Montecito… with homes being more likely to sell at a certain price point, and that people continue to see Montecito, and treat this small town as the special place it is.

The home in this photo was recently on the market with other agents, but is a good example of homes hitting a price point and selling, this one was priced at just under $5,000,000 and is currently in Escrow. This home was on my list of Montecito Best Buys, with 2 acres of land, a major structure and formal gardens, gated private drive and motorcourt…

For more information on Montecito Real Estate call or text me, Mark Ashton Hunt at 805-698-2174 or email mark@villagesite.com