Montecito Real Estate Update

Here is the Montecito real estate update for January 2014. There were 17 sales in Montecito during the month of January. Prices ranged from a low of $1,340,000 for a 2300 s.f. 3 bedroom, 3 bath home on just under 1/2 acre. It was located adjacent to East Valley Road thus had quite a bit of road noise which was most likely a factor in the sales price. On the high end was a home in a great location near Montecito’s Lower Village – this 7900 s.f. Montecito estate

Montecito Oceanfront

Montecito Oceanfront

had recently undergone an extensive remodel. In addition to being in excellent condition with high end finishes it had a guest area, pool, and cabana. I think this was truly a BEST BUY at $4,875,804! Two of the properties were oceanfront and 4 additional ones had ocean views. The median sales price in January 2014 was $2,165,000 down from a median of $2,740,000 in January 2013. Now may be the best time to purchase a home in Montecito before that median prices goes back up! There are currently 120 active listings for sale in Montecito. Click here to view property for sale in Montecito or call me at 805-886-7426 for further information on Montecito Real Estate.

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