Montecito Real Estate from here to there....
So, where is Montecito Real Estate??? Well as with the rest of Santa Barbara Real Estate the area is south facing to the ocean. So starting on the East it begins in Toro Canyon about Foothill. Then it continues up Toro Canyon and goes West along East Valley Rd. up to Ortega Ridge where it goes Southwest down to Sheffield. From there it goes South on Sheffield and on out to sea.
On the West of Montecito is Hot Springs Rd. The border goes North on Hot Springs and then West on Alston Rd. From there it goes over the hill and meets up with Sycamore Canyon. Rd. On the South Montecito goes to the Ocean and then to the North it goes up above East Mountain Rd.
Okay, so now that you know where you are let's talk about the different areas in Montecito. On the South you've got Miramar Beach Rd and Edgecliff with some incredible estates and small beach rentals. Farther West there's Bonnymede with some wonderful Condominiums. Then farther still is the Biltmore Hotel and some wonderful homes along Channel Dr. and Fairway Rd.
Just North of the Freeway there is what is called Hedgerow Country and eve farther North from there is the area closely adjacent to East Valley Rd. which is in the heart of Montecito. Some beautiful old estates are all along East Valley Rd.
Farther up is the area around East Mountain which has some newer and older estates. But the good news for those living in Montecito is that the Average Sales price of those properties which have closed is up 6% for the year. The sold prices have gone from $3,009 million in '04 to $3.208 million today. So prices continue to escalate but not quite at the rate of other areas in Santa Barbara.
The highest priced home that has closed escrow this year is a $27.5 million dollar home that has 8 Bedrooms and 10 Baths. The least expensive home that has closed escrow this year is $1.195 millions dollars and has 3 Bedrooms and 2 Baths.
Some other homes that have closed escrow this year include: * A $9.9 million dollar home with 6 Bedrooms and 8 Bathrooms. * A 3 Bedroom 6 Bath home for $8.75 million * A $5.9 million dollar home with 8 Bedrooms and 6 Baths * And a 3 Bedroom 4 Bath home for $4.3 million
Right now the highest price home for sale in Montecito is listed for $24.9 million and features over 4 acres of grounds and a 6 Bedroom 11 Bath home. The least expensive home currently listed is $1.35 and has 2 Bedrooms and 2 Baths.
Some other homes currently on the market include: * A $21.5 million dollar home with 6 Bedrooms and 9.5 Baths * A 6 Bedroom 9 Bath home for $18.9 * A $15 million dollar home with 3 Bedrooms and 3 Baths * And a 4 Bedroom 6 Bath home $12.5 million
So that's it for Montecito Real Estate for now.....
About the author: Gary Woods is a Real Estate Broker in Santa Barbara California and is the Computer Trainer for the Santa Barbara Association of Realtors. You can hear him on Radio 1290 AM Mondays from 9-10AM in Santa Barbara
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