Montecito Real Estate Update - Latest Weekly Trend

October 27, 2022

As the holidays are approaching and the market is shifting, we are seeing a slight slowdown in new listings and overall sales. Inventory remains low for the time being.

Last week, 3 new listings hit the market, along with 2 closed sales. There were also a total of 41 active listings within the Montecito market.

• 1850 Jelinda Drive is “new” on the market, although it has been offered on and off as a “coming soon” listing and was an “expired” listing in July of 2022 at a higher price of $24,850,000. The updated asking price is $22,750,000. This +/- 8,100 sq ft home features 5 bedrooms and 8 bathrooms. It was initially built in 1989, yet had a complete remodel in 2017.

• 350 Calle Elegante was listed at $8,500,000. This contemporary hillside property sits on approximately 1 acre and has tremendous ocean, harbor, city, and mountain views.

• 900 Toro Canyon Road is an ocean-view property that was recently listed for $7,500,000 and sits on 4+ acres within Toro Canyon with a main home and guest house.

Are you interested in hearing about off-market opportunities in the Montecito area? Let’s