Update on Montecito Real Estate Market from July 2 – 11, 2015

Montecito Oceanfront image for Real Estate Market UpdateThis is an update on Montecito Real Estate market from July 2 – July 11, 2015. There are currently 129 properties for sale in Montecito (single family homes/estates and condominiums). There were 10 new listings – 8 single family homes/estates and 2 condominiums that came on the market during this time frame. Click here to view them. The price range for the new listings was $1,425,000 for a 2 bdrm 2 bath condo in a great creek side setting in the Upper Village up to a high of $34,500,000 for a fabulous Montecito estate on 7+ ocean and mountain views acres in the coveted Riven Rock area.  There were 4 closed escrows during this period. The highest sale of the week was $27,500,000 for an exquisite Mediterranean on approximately 2.5 acres near the famed San Ysidro Ranch. This 10,800+ square foot estate sold for $25,000,000 a merely 3 months ago. This sale was the 8th property to close escrow above $10,000,000 this year vs 2 sales for the same time frame in 2014. There was also a sale at just over $8,100,000 for a nearly new 7000+ estate with captivating ocean views making it the 28th sale this year over $5,000,000 in Montecito vs only 10 sales for this same period last year. For more information about property for sale in Montecito contact patsaraca@gmail.com