Montecito Real Estate Update - Latest Weekly Trend

March 15, 2023

The Montecito market was at a standstill in terms of inventory last week. There were no new listings, and the total number of active listings was 32. 2 sales went pending, 2 sales closed, and there was 1 price reduction.

Price Reduction:

• Just reduced in price is 269 Oak Road, located in Montecito. After being on the market for a total of 23 days, the property was reduced from its original listed price of $3,500,000 to $3,395,000. The charming 1930’s home sits on a +/- 8,700 square foot lot and is a great potential investment property. The main home features 2 bedrooms, 1 bathroom, and charming original wood floors. The separate dwelling has plans and permits for an ADU conversion.