Montecito Market Report | October 2022
A Changing, YET Resilient Market.
The current story of our local market is one of historically low inventory sustaining (in fact, increasing) current values. Despite the national headlines reporting plummeting housing demand and prices, our market remains strong. Although the 2021 frenzy of multiple non-contingent offers has waned, it’s still a seller’s market. Homes that are priced correctly and strategically remain in high demand.
Properties priced incorrectly are beginning to languish on the market and often require one or more price reductions in order to sell.
We study and analyze local and national data daily. In this continuously evolving market, it’s vitally important to work with a seasoned expert to guide your sale or purchase of property in Montecito and the Santa Barbara area.
Please contact us if you’d like further insight, or if you are interested in discussing selling or purchasing a home in our idyllic enclave.