Tag archives: housing market

Montecito may be a small town by population standards, but it is not without diversity of landscape, view options, a variety of home sizes, styles, prices, and more. From a mansion on a promontory overlooking everything, to sitting just two miles away, on the patio of an 800 sq ft beachfront home, there are many […]

The Montecito Heat Index identifies demand for Montecito single family homes in five price sectors. By measuring buyer demand (signed contracts) rather than sales (closed escrows), we create a forward looking indicator of both market strength and direction rather than sold data which is typically a month or more old. This metric also shows us […]

There are many homes for sale right now in Montecito that very probably could not be replaced for the price sellers are asking. This means that existing homes are in some cases less expensive than if one were to buy the land and build. Additionally, some homes are historic in nature so you literally can’t […]

The Thomas Fire and subsequent debris flow on 9 January 2018 devastated portions of Montecito and surrounding communities. The debris flow killed 23 people and damaged or destroyed hundreds of homes and commercial properties. As of April 2018, insurance claims total $421.9 million, including 107 homes declared total losses (California Department of Insurance, 2018). Those […]

Well everyone, the wait is over. After one of the fastest construction periods I’ve ever seen (to offset the 12 years of planning and approvals) the new Rosewood Miramar Beach Resort is here, and it’s impressive.  The grounds at the new Miramar resort are vast and open, the pools are well positioned on the property […]

There are two categories of real estate offerings that grab the most attention from agents and buyers alike, and these are new and/or reduced in price listings. When a property hits the market, everyone wants to see inside, judge the value, make an offer or wait and see… When a property has been sitting for […]

While available housing inventory in Montecito may be lower these days (about 120 homes and condos currently on the market; in years past that number would be 150 or more in a January), there are still options of styles and conditions of homes in every price range.  Each day I find it is interesting to […]

If there was a question about whether home sales have been slowing in Montecito in recent months (and other higher end areas around the country), then the dismal five escrows that closed in November and the only one home so far through December 9, together make quite a statement. Additionally, very few Montecito properties went […]

We have seen slower sales (only five closed escrows in Montecito during the first three weeks in November), and fewer new listings. Whether this is seasonal or an overall slowing market trend in higher end communities only time will tell. For now, we are happy to see prices staying strong overall, regardless of the number […]

For those in search of an estate-level home that boasts ocean views and increased acreage, the area at the eastern border of Montecito can offer a lot of both for the money. From a close-to-town, 270-degree ocean view contemporary home on nearly two acres, to an 80+ acre working ranch with pool and tennis court, […]

This is a good time to be looking for an upper-price range home in Montecito, as there are many well-priced properties available in the $4.5-to-$15 million range on the market. Some “done” homes for sale are the result of a developer’s remodel, and others were on the market a while ago and are being reintroduced, […]

How hot is Today’s Montecito Real Estate market? The Heat Index measures buyer choices for single family homes in five price sectors. Rather than sales data, typically at least 30 days old, the Index measures signed contracts resulting in present demand and thus market strength and direction. Since home purchases fluctuate seasonally, indeed monthly, today’s […]

It often surprises people when I tell them they can purchase a single-family home, on a good-sized lot, with amenities and upside potential, for under (and often well under) $2,000,000 in Montecito.  In this price range, one is not likely to find a home with big ocean views or a done home on a large […]

We are regularly made aware of the damages done to homes and property, and the lost income to local businesses caused by this past winter’s dual episodes. There is one institution that has had a lot of both of these issues to contend with: the San Ysidro Ranch. This storied institution is the prize and […]

“What’s going on in the real estate market?” It’s a question agents field on an almost-daily basis, and as of late, my answer to my clients and others is that we are in an adjustment period, with the market, in general, feeling a period of softening.  The number of properties sold in the first half […]

When one thinks of Montecito, images of the ocean, palm trees, Spanish-style architecture, San Ysidro Ranch cottages, and more come to mind. It is one thing to be able to live here, in such a special, small yet internationally recognized community, but it is another thing altogether to have a career that allows access to […]

There is nothing quite like this 6,350-sq-ft former “pool pavilion,” designed by Francis Underhill, on the market here or anywhere else in the Santa Barbara area, at least nothing I’m aware of and… and I can say this because I am not in the real estate business and have no stake or interest in this […]

The Montecito Real Estate market has done well during the past six months, considering what it, and the residents of Montecito went through, what with the fires and the debris flow and the resulting damage and insurance questions, not to mention the countless personal tragedies that occurred during those few hours on January 9.  While […]

The Santa Barbara Heat Index is a snapshot of demand for single-family homes in the city of Santa Barbara described in our Multiple Listing Service as east and west of State Street. Rather than a measurement of home sales, often lagging by at least a month, the Heat Index measures homes currently under contract but […]

It is one thing to be fortunate enough to own an ocean-view home in the Montecito area. It is another thing altogether to own a 9+/- acre hilltop, with three substantial homes, three guest apartments/houses, three pools, three spas, parking for dozens of cars, and control of the entire end of this important lane in […]