Montecito Across the Board
It was a good May in terms of home sales in Montecito and the greater 93108. In fact, some agents are even saying the market is basically on fire and in most price ranges. Indeed, we have had a few of the usual under-two-million-dollar sales, as well as a few in the $3-$5-million range as well and a few even over seven million to round it out… and a couple over ten million in recent weeks as well. I know… shocking considering all that is going on in our world.
As of this writing (June 6, 2020), the past 37 days (since May 1) has shown 24 closed sales in Montecito, 22 of which had been featured on my Montecito best buys list.
Here is a quick comparison of last May to this May sales as recorded in the Santa Barbara area Multiple Listing Service (MLS), within the 93108 zip code.
2020 – 18 sales in 93108 totaling approximately $77,000,000
2019 – 20 sales in 93108 totaling approximately $80,000,000
Additionally, as has been the trend recently, we had a couple of high end, “off market” sales, which are sales that happen behind the scenes, not offered on the market or through the MLS. These off-market sales in May included one of the larger ocean-front units at Montecito Shores, selling for $5,500,000, as well as a home on Brooktree Road, above East Mountain Drive, with commanding views that sold for $8,700,000.
Of note, the two highest priced sales this May had given considerable price reductions over time leading up to their sales, and both closed escrow approximately 20% or more below their final asking price at time of sale.
Not only was May a solid month for Montecito home sales, June is starting off as hot or hotter. In the first week of June, 2020, we had six closings in Montecito totaling roughly $25,000,000 in sales. That’s a great start to the summer sales months. Looking ahead we have a good pipeline of homes in escrow and we are seeing new listings come on the market and move, so fingers are crossed.
In addition, some sellers are appreciating the home sale process during COVID-19. That is not to say anyone likes what has been going on, but from the point of view of a seller, consider that there are no open houses and those coming through the home are much more serious about buying. That said, it’s not as easy to get people in to see a home, which for properties that have been on the market a while, it’s harder to get them the attention they might need.
So, for now get used to the virtual home tours and do not hesitate to call your agent if you see a home you are interested in. We all need a place to live and during this time it’s more important than ever that your home suit your needs. Enjoy this look at a handful of options here in Montecito from the “low two’s” to the “over twenty’s.”
740 Skyview Drive – $2,295,000
This home provides a good balance of size and amenities for the asking price and offers a pool and a desirable school district as well. Up a private drive in the Cold Spring School District find this single level, three-bedroom, two-bathroom home.
The 2,000+ square foot ranch-style home is set among mature gardens with a wisteria covered arbor and small, sun drenched pool. The nearly one-acre property is located on a private lane in a closed-in location and enjoys partial ocean views.
This home features cathedral beamed ceilings and a multi-room audio system. Additional features of this home include a security system, air conditioning, water softener and two fireplaces, all in a location surrounded by mostly more expensive homes.
255 Bonnie Lane – $3,995,000
Now priced under four million dollars, this newly re-constructed contemporaryMontecito home has been reduced a few times over the past year or more, to the current asking price. An architecturally fresh style in the heart of Montecito with a spacious level yard to enjoy is a hard find, so here it is.
The home is located just blocks from Montecito Union School, the Rosewood Miramar Beach and the Upper Village. Enjoy a full level acre at the end of a quiet cul-de-sac. Natural light pours in through walls of glass throughout the day and evening as telescoping doors provide access for indoor/outdoor living.
Additional features include a two-car garage, central air conditioning, and two fireplaces.
811 Camino Viejo Road – $7,495,000
Casa Bene was created by Donald Sharpe AIA and offers commanding ocean, city, and mountain views from this 1.9-acre knoll top location. The gated entry leads up the approximately 300-foot-long private drive ending at a vast motor court.
The floor plan allows for entertaining small or large groups with an open kitchen and family room. The formal dining room flows to the double height living room with its walls of glass framing the views. All main rooms face the breathtaking ocean view. The architecturally significant sweeping staircase leads to either the private master wing or the lower level bedrooms.
The pool room has a full bar and a disappearing wall of glass opening to the covered entertainment terrace overlooking the pool and spa. A separate three-room and two-bath guest quarters with glass doors opening to coastline and mountain views, and a tennis court round out this expansive compound.
956 Mariposa Lane – $11,450,000
Ocean views span the horizon of this 2.5-acre estate just below Park Lane. Together, the design team of Don Nulty and Christina Rottman have reimaged the Mediterranean architecture for how we live today. Moroccan influences & luxurious finishes create captivating interiors while stunning outdoor spaces foster an indoor/outdoor lifestyle.
The floor plan includes an expansive ocean view, main floor master with dual baths and a media room. Upstairs, a secret office opens to a private patio.
Lush botanicals, a private well, intimate terraces, guest house, tropical gardens and a pool and tennis court create the ultimate Montecito experience in a location with other incredible estates nearby.
296 Las Entradas Drive – $28,500,000
This is one of the largest homes on the market in Montecito offering over 14,000 square feet of living space, with six bedrooms and 11 bathrooms. Drawing inspiration from around the globe, this architectural and spiritual estate is a luxurious display of international influences and has a storied history.
Villa de la Vista was once a part of the San Leandro Ranch and owned by the famed Gould family. An extensive renovation in 2012 was undertaken and through the architectural ingenuity of Thomas Bollay, this prominent residence was brought back to life.
The estate sits on a unique 2.9-acre promontory offering a rare 360-degree bird’s eye view out to the Pacific Ocean, coastline and mountains, complete with a pool, one-bedroom guest house, tennis pavilion and office building, rose gardens, and thoughtful garden spaces throughout the property. The main residence also features a meditation room, home theater, wine cellar, bar, recording room, private gym, and sauna.
For information on any of these listings or to have me arrange a showing with one of the listing agents, please contact me directly, Mark@Villagesite.com or call/text 805-698-2174. Please view my website, www.MontecitoBestBuys.com, from which this article is based.