Tag archives: real estate market

Montecito continues to enjoy a healthy real estate market, with sales up 22% over last year; 131 homes and condos have sold so far this year, compared to 107 by the end of August in 2018. By this time in 2017, prior to the Thomas Fire and debris flow, we were at 149 sales.  Looking […]

In August, the Old Firehouse building at 1486 East Valley Road in Montecito was purchased by an unnamed investor with ties to the Santa Barbara area. The property was listed for $16 million, and closed for $13,000,000. Francois DeJohn, Kristopher Roth, and Caitlin McCahill Hensel of Hayes Commercial Group represented all parties in the transaction.  The 6,357 square-foot […]

In our continuing look at the various neighborhoods around Montecito we have recently taken a look at western Montecito, homes in the Cold Spring School District, estates near the San Ysidro Ranch and beach area homes. Now let’s direct attention to homes just a mile or two from the upper village in Montecito, all within […]

Nothing says summer like a day at the beach and no beaches that I know of are more cherished by residents and visitors alike than the beaches of Montecito: Butterfly Beach with the Four Seasons Biltmore Hotel and Miramar Beach with the newly opened Rosewood Resort at Miramar Beach.  The beach area in Montecito can […]

A ten-acre Montecito estate, with seven bedrooms and eight bathrooms, has just come on the market for $17 million. The 13,932 sq. ft. property is just a tiara’s toss or two from the homes of TV talk show titans Oprah Winfrey and Ellen DeGeneres. The expansive grounds include terraced gardens, a pool, spa with a […]

If you do not live in Montecito, or if you are not a repeat visitor of the San Ysidro Ranch, then you might not know how big a deal it is that the San Ysidro Ranch has re-opened for business (after being closed for over a year for repairs to some structures following the debris […]

Just inside the western edge of Montecito is an area commonly referred to as the Cold Spring School District (CCSD). This area reaches from the hills around Coyote Road and West-East Mountain Drive, down through neighborhoods including the streets around Westmont College, the estates at Riven Rock, homes on Pepper Hill, Sycamore Canyon and Cold […]

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 […]

It may be difficult to imagine being able to own real estate in an internationally famous town such as Montecito for under a million dollars, but it is indeed very possible. From a studio condo near the beach and Four Seasons Biltmore Hotel, to a two-story townhouse or an ocean view, single level two-bedroom condo, […]

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 […]