• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
Scott Williams Real Estate

Scott Williams Real Estate

ScottWilliams.com

  • Client Newsletter
  • Blogs
    • Market Mojo Report
    • Market Update
    • Montecito Connection
  • Santa Barbara
    • Maps
    • Histories
      • Downtown
      • Eastside
      • Westside
      • Samarkind
      • Mission Canyon
      • Montecito
      • San Roque
      • Mesa
      • Hope Ranch
      • Riviera
      • San Marcos
      • Waterfront
  • Email
  • Facebook
  • RSS

Market Mojo Report November 2014

November 21, 2014 by Scott Williams

nov2014-picture1All work and no play makes Jack a dull boy.  To get away from it all, I joined my men’s group retreat at Forest Home in Ojai.  You see me in the photo on one of their zip lines.  To compensate for the 104 degree weather we played water volleyball, had a bocce ball tournament and participated in other fun activities.  It was a great escape, with a bunch of good guys, and the fun more than compensated for the hot weather.

Mesa and Santa Barbara

What gives?  The market is up 25 percent for the median priced home, but I’m telling you that prices have flattened off.  Really? How can both be true?

Median prices are up, but it is the mix of homes that are selling that has changed.  There are 200 fewer sales this year below $1 million and many more sales in the upper tiers.  That raises the median price statistically, but prices, including those of Mesa homes, haven’t risen since summer.

Property sales in Southern California went up at double-digit rates for 22 months in a row.  But for the last four months, the pace has slowed to only eight percent above last year.  A big slowdown in appreciation has occurred  The trend is statewide and national.

Market Update

nov2014-picture2

Biggest Estate Sells

One of Montecito’s largest estates, located at 2500 East Valley Road was recently listed for $125 million.  It received five offers during the first month on the market, and is now in escrow.  The main home has over 29,000 square feet—bigger than a supermarket—and needs ‘fixing-up.’

Known as Rancho San Carlos, the Palmer Jackson estate has 237 acres with 30 parcels and ten additional residences.  With five offers they probably got their full price!

Client Talk

“Everything went very smoothly.  Scott showed us around the area we’d eventually like to buy in.  We found the property we were looking for in one day.”
–  Max and Tammy Darnell

“ Full price offer and 15 day escrow! Certainly there are elements of luck which played into this excellent result.  However, I know your knowledge, preparation and hard work influenced our “luck.”
–  Laurence Reider

Scott-first-name-signature-trans-140

Filed Under: Market Mojo Report Tagged With: Market Mojo Report, Montecito

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

News and Updates

Montecito Connection: Hit the Jackpot Selling Your Home–My Podcasts Tell You How

September 16, 2021 By Mark Burrell Leave a Comment

Montecito Connection: Montecito Conditions – High Water Everywhere

August 16, 2021 By Mark Burrell Leave a Comment

Market Mojo Report – Mesa Increase in Values Highest on Record

August 16, 2021 By Mark Burrell Leave a Comment

Market Mojo Report – Jan 2018 – Are You Curious?

January 5, 2018 By Scott Williams Leave a Comment

Search content by keyword

Archives

Categories

  • Client Newsletter
  • Homes for Sale
  • Market Mojo Report
  • Market Update
  • Montecito Connection
  • Peach Picking
  • Sold Listing

Follow

  • Email
  • Facebook
  • RSS

Footer

Contact Scott Williams

Scott Williams
President Williams Systems
Berkshire Hathaway HomeServices California Properties
Office: 805 563-4031
Fax: 805 563-0053
Cell: 805 451-9300
Scott@scottwilliams.com
http://www.ScottWilliams.com
Cal BRE # 00628741

Disclaimer

Copyright © 2023 · Blog Site by The Burrell Group · Log in