09/21/2026
Montecito Market Update
What Changed This Week, and What It Means
The number that jumps out: relisted homes hit 39% of activity, up from 18% last week, more than double, and the highest we've tracked. Everything else moved in smaller, calmer steps.
What Moved
Median list price eased to $7,545,000 (was $7,750,000), and median price of new listings dropped to $7,595,000 (was $8,650,000). $/sq ft rose to $2,177 (was $2,095). Both days-on-market measures improved: average to 125 (was 132), median to 81 (was 84). Price cuts eased to 28% (was 32%). Inventory held near flat at 72 (was 73), and the market-action index stayed at 31.
By Segment
The $19M tier saw the real action: price down 4.5%, but days on market collapsed to 94 (was 133), a 39-day swing. The $11M tier held flat on price but slowed to 77 days (was 70). The $6M tier fell 4.3%, unchanged at 105 days. The entry tier near $3.4M fell 5.7% and slowed to 80 days (was 73).
If You're Buying
The relisted surge is the tell: a lot of sellers are circling back to the market, often with room to negotiate. Combine that with easing prices in three of four tiers, and this is a buyer-friendly week almost everywhere except the top.
If You're Selling
If your home didn't sell the first time, you're in good company this week, but that also means more competition from other relists. Fresh, realistic pricing matters more than ever right now.
If you're considering buying or selling in Montecito or Santa Barbara, let's discuss how these trends may impact your goals.
Make Your Move!
Joel Knee, REALTOR®
Douglas Elliman
(305) 785-0811
[email protected]
CA DRE # 02248540
FL DRE # SL3364653