Montecito, CA, a small celebrity enclave, witnessed a remarkable surge in home sales during January, with 25 properties sold, defying the prevailing downturn in the broader real estate market. Notably, six of these homes fetched prices exceeding $10 million, highlighting the esteemed nature of this market. Real estate agent Mark Ashton Hunt pointed out that years ago, such sales over $10 million were scarce throughout the year, making this January's activity particularly noteworthy. Despite some discrepancies in sales figures reported by the California Association of Realtors, the overall trend indicates continued demand in this affluent community.
"Basically, this is unheard of in one month, especially a January. Just six years or so ago, you would only see six sales over $10M in a whole year, not in one month."
"According to the veteran agent, six of the Montecito properties were sold for more than $10 million, among them four that went for $20 million or higher."
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