Montecito sees fewer and fewer homes priced under a million dollars. Condo’s maybe but free standing homes? Good luck.
It used to be that a few neighborhoods offered smaller homes on smaller lots under a million dollars. That was before the resurgence in sales that began in 2012, and the low inventory of today’s market. At this moment, there is only one condo for sale under a million and no free standing homes for sale under a million, which makes it very difficult for anyone on a budget to even consider Montecito at this point.
Here are a few recent sales under a million to give you an idea of what that can get you, when the opportunities come up.