Let’s take a look at what’s happening in July for the luxury markets of Montecito and Hope Ranch.

Starting with Montecito: The year-to-date median sale price has climbed, showing a healthy increase compared to last year. Sales activity in July also picked up, with more homes closing compared to the same time last year. Days on market are holding steady, nearly identical to last year’s pace. The standout this month is inventory — year-to-date listings are up significantly, giving buyers more options than we’ve seen in years.

Now in Hope Ranch: The median sale price has surged compared to last year, showing strong gains. Sales activity returned after being quiet last July, while average days on market have doubled, with homes taking longer to sell. Inventory has jumped as well, offering more choices for buyers in this exclusive market.

Tips for buyers: With more homes available, focus on motivated sellers and be ready to negotiate.

Tips for sellers: Strong pricing power is still on your side, but preparation and presentation are critical with more competition entering the market.

Luxury is evolving in both Montecito and Hope Ranch. If you’d like a tailored strategy, let’s make a plan that fits your goals — give me a call.

Whether you’re dreaming of an ocean-view estate or simply curious about your options in the current market, I’d be happy to walk you through it.