While activity in real estate is on the rise, we are seeing some mixed signals in consumer confidence, labor market assessment and long-and-short-term financial expectations. However, this month’s upward momentum is a positive for our community not only in real estate but also on a larger scale. Inflation continues to be the #1 concern, but with rates holding fairly constant, households are less inclined to view this as a negative. I expect prices to continue to hold their ground due to a viable lack of inventory combined with a pent-up buyer demand—both fueling pressure on prices.
When it comes to local home values, I believe the Santa Barbara real estate market is, and has been, undervalued compared to many similar premiere locations across the nation and the world. And even though it’s nice to travel and experience other places, I, for one, am always happy to return to our slice of paradise and proud to call Montecito home.
In my latest video, I share more insight into the current real estate market, as well as the future, in Santa Barbara and our surrounding communities.
Neighborhood Market Update
Experience privacy and serenity in this luxurious contemporary ocean-view compound, originally designed by notable architect Wallace Neff and landscape architect Thomas Church, and located in the esteemed community of Hope Ranch, with access to the beach close by. The breathtaking entrance leading to the main room with a floor-to-ceiling glass wall unveils an immaculate ocean view, creating a seamless connection between the interior and its majestic grounds. The spacious residence features 6 bedrooms; 7.5 bathrooms; chef's kitchen; wine room; wellness center with spa, sauna, steam room; and theatre room. It is further enhanced by a detached guest house. Located on a gated 1.5+/- acres featuring exceptional outdoor living with sunrise and sunset views. Adjacent parcel is also available.
A Collection of My Recent Sales
If you’re considering making a move, please call me at (805) 886-9378 or send me an email at Cristal@montecito-estate.com for a complimentary consultation. Stay apprised of local real estate trends with my next market update.