Montecito High End Home Market Rebounding

The first quarter has been quite active in the Montecito high end  home market and it is showing signs of a rebound. Last year there were only 2 estates in Montecito that sold at $9,000,000 or more for the entire year and the first one did not close escrow until August. On the contrary this year there have been 4 luxury estate sales in Montecito of +$9 million in the 1st quarter with 3 closing in March – all  3 in March had sales prices in excess of $16,000,000! One spectacular Montesito estate that sold was ‘La Pumada’ . Designed by Reginald Johnson in the 1920’s, on 5 acres with ocean and mountain views, 8 bdrms, 10 baths, 2 guest houses, and of course a pool and tennis court, this Montecito estate is exceptional! There are currently 3 Montecito ocean view luxury estates in escrow. The asking prices are $12,500,000, 17,500,000 and 19,500,000! It seems high net worth individuals are confident in the Montecito luxury real estate market. With a great selection of exquisite properties for sale in Montecito and prices down there may not be a better time to buy! Click here to view Montecito property for sale or go to www.SantaBarbaraRE.com

Gorgeous sunset in Montecito, CA

, ,