Happy Friday everyone! Just finishing up out work week here at Berkshire Hathaway in Montecito. Last week we touched on days on market in Santa Barbara and now we want to talk about Montecito. There has been a lot of talk about the slow down of the upper end. In fact the average time to sell a home in Montecito has increased 60% over last year, to 134 days which is over 4 months on the market.
And that's a long time to sell your home, but if you are shopping in the ultra-high end, say over 10 million dollars there is a decrease in inventory right now. It is about a 36% change from 11 homes active last year and only 4 this year. Although these are both big changes we see this as a stabilization of the market and now is pretty much an opportunity to stand out from the pack. So, you need proper preparation, you need to price your home accurately, you need to stage your home, and you need to work with an agent (or agents!) that understands the value of strong marketing.
So if you are thinking of buying or selling contact us today, call or email us and we would love to give you a consultation.
Have a great weekend!
