Montecito Market Report | June 2023
Despite continual demand, June showed buyers starting to exhibit more selective and discerning behavior. The number of transactions decreased in both Montecito as compared to 2022 more likely due to the lack of inventory than anything else but in my experience as well as my colleagues, the market seemed to take a more prudent turn. But like most markets these days, things sometimes change on a dime. The Montecito market continues to exhibit steady resilience. Inventory still remains low, however, we’ve seen a noticeable uptick in listings in the past couple of months compared to earlier in the year. This comes as no surprise as spring and summer are traditionally busier seasons for the local real estate housing market.
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