Montecito Real Estate in Review

By
Real Estate Agent with Berkshire Hathaway Home Services 00898298

BeachWharfSB

According to the Santa Barbara Multiple Listing Service there were 192 sales in Montecito in 2016 down from 195 sales in 2015, with over half of those selling for under $3,000,000. Here's the breakdown: 11 sales under one million. 57 sales between $1,000,000 and $2,000,000. 47 sales between $2,000,000 and $3,000,000.  23 sales between $3,000,000 and $4,000,000.  20 sales between $4,000,000 and $5,000,000. 22 sales between $5,000,000 and $7,000,000. 9 sales between $7,000,000 and $10,000. And, 4 sales over $10,000,000.

In the neighborhoods east and west of State Street in Santa Barbara (that includes the Upper East, the upper and lower Riviera, Foothills, and the Mesa) in the $2,000,000 to $5,000,000 price range 97 homes sold in 2016. Only 3 homes sold above $5,000,000 according to the Santa Barbara MLS. In Hope Ranch in the $2,000,000 to $5,000,000 price range there were 10 sales. Above $5,000,000 in Hope Ranch there were 6 sales.

Some of the data here might prove to be plus or minus what has been shared here from the Santa Barbara MLS. Why? Sometimes agents will try to place their listing in an area such as Montecito or Hope Ranch when in all actuality they are not. Right now, priced for sell  in Montecito on the Santa Barbara MLS are a property in France and Solvang? The last time I ran a search for homes for sale in Hope Ranch 10 of the 35 homes listed for sale were not in Hope Ranch? I hope the Santa Barbara Association of Realtors considers addressing this issue, and hence why this data might not be as accurate as it could be.

Posted by

Mark Danforth Lomas

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
California Santa Barbara County Montecito
Tags:
montecito
montecito real estate
montecito homes for sale
montecito realtors
montecito real estate market trends

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Ambassador
2,641,503
Paul S. Henderson, REALTOR®,CRS,
RE/MAX Professionals. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

Oh Mark Lomas, this is a nice market report and shows how invested in the Santa Barbara market place you are. Well Done! 

Jan 13, 2017 04:25 PM #1
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
95,573

Mark Lomas

Excellent Service, Superior Results
Ask me a question
*
*
*
*
Spam prevention

Additional Information