Welcome to our monthly update on the luxurious real estate landscape of Montecito and Hope Ranch. Let's delve into the details of October's market dynamics, starting with houses.

In October, Montecito boasted 67 active house listings—slightly more than the previous month and a notable increase from October last year. The market witnessed 14 successful sales, with homes swiftly changing hands within 60 days, fetching prices at 95.1% under the list price. The median sale price soared to an impressive $6,400,000, surpassing both the previous month and exhibiting a substantial 65% surge compared to last October.

Turning our attention to Hope Ranch, the condo market held steady with 10 units available—a consistent figure from the previous month but a decline from last October. Despite the limited inventory, eight condos successfully sold within a mere 22 days on the market, commanding prices slightly above the list price. The median sale price settled at $740,000, indicating a decrease from the previous month and last October.