July 2022 | Montecito Market Report

August 5, 2022

Montecito Market Report | July 2022

The Montecito market showed signs of “normalizing” in July. As you can see in the featured graph, properties took a little longer to sell (though a median of 17 days on the market is still a sign of a very robust market). The median sale price and the number of transactions dropped.

It felt like half of Montecito was in Europe during July (which is likely reflective of buyers from other markets), as we are now seeing an uptick in activity since August 1st, with buyers returning home from vacation. It will be an interesting comparison once we receive the statistics from August. 

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