First Quarter, 2000
I am pleased to report that Montecito real estate enjoyed another great year. 1999 was characterized by strong Buyer demand, declining inventory levels, and escalating prices. I have enclosed a summary from the MLS 1999 Statistical Review where I had the honor of being chosen to speak on the Montecito Market.
Major influences shaping our market during 2000 should include:
- Continued Strong Buyer Demand: The technological revolution has created both tremendous wealth and unprecedented flexibility of where people can live and work.
- Booming Construction: Between new homes and remodels, construction crews are busy- construction costs have doubled in the last couple years.
- Outstanding Elementary Schools: Recent standardized state test results confirm that Cold Spring and Montecito Union Schools ar the best public schools in the Santa Barbara area.
Expect 2000 to be another strong year for Montecito real estate.