QUARTER 1 SALES OVER THE LAST DECADE

WHILE THERE MAY BE SOME CONCERNS ABOUT THE CURRENT STATE OF THE REAL ESTATE MARKET, IT’S IMPORTANT TO CONSIDER THE BIGGER PICTURE.

Over the last decade, with the exception of 2020 and 2021, Q1 sales figures have remained relatively consistent. Apart from the pandemic, Riskin Partners' 2023 Q1 sales volume was the third highest it’s been in the last 10 years. The long-term data points to the fact that the real estate market in Montecito continues to thrive, just not in the same (unsustainable) frenzy that was the pandemic. Limited inventory continues to be one of the factors contributing to our continued strong pricing, though low inventory also means a lower volume of sales.

There continues to be a demand for high-quality homes in great locations - the proof can be found in many multiple offers, sales over asking price, and off-market deals.