When you start seeing two bedroom cottages selling for over ten million dollars you might say that the market’s not doing too badly. In Montecito a sale which just closed on Edgecliff Lane bordering Miramar Beach turned the heads of many beach goers. A modest two bedroom, three bath cottage originally built in 1929 on half an acre captured $10.75 million. Both parties involved in the off market transaction were represented by Village Properties. Only three beach front homes are currently on the market in Montecito, ranging in price from $4.65M to $17.95M. Click here for details.
The supply of available Santa Barbara area real estate has dropped again for the forth straight week. With good properties becoming harder to find buyers are starting to see more multiple offers and competition. This makes it more important to be well informed in the marketplace. I appreciate your inquiries and the opportunity to help you with your search.