Santa Barbara and Montecito CA. Luxury Real Estate Sales Update — First 6 Months 2009
categories: Luxury Real Estate, Market Statistics / Updates
–For our purposes here, I am going to refer to the luxury market here in our area as anything over $5 million.
For the first 6 months of 2009, there were a total of 14 closed sales of luxury single family homes and condos here in Carpinteria, Montecito, Santa Barbara and Goleta CA. As of July 1st, 2009, there were 3 properties in this luxury market that were pending sale (under contract).
The highest sale within this luxury market was a French Country Estate built over 5 years with exceptional grounds and quality throughout, 7.5 acres, pool, spa, tennis court, privacy, views, 5-car garage, gym etc. located in the heart of Montecito on Rockbridge Road. The sales price was $25,279,000.
Overall, the luxury market here in the Santa Barbara area was much slower in comparison to the first 6 months of the last few years. Also, prices on average have taken a decent hit since the highs of around mid 2008. There were still many homes out there for sale, but not as many buyers based on all that has happened in the last 12-18 months worldwide. If you would like a more complete update on our Luxury Market and/or any other areas within Santa Barbara, Montecito, Carpinteria, Goleta, Hope Ranch, Summerland, and/or The Santa Ynez Valley, please feel free to contact me.
View: Current Luxury Real Estate Listings $5 Million and Above
Further Reading:
- Santa Barbara Luxury Real Estate
- The Oceanfront Area - General Description and Information
- Santa Barbara Photo Tour
For information on Real Estate here in Santa Barbara, Montecito and/or our surrounding areas, as well as any other aspects of life in our area, please don’t hesitate to contact Kevin Schmidtchen at Sotheby’s Int’l Realty.
Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.
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Santa Barbara is a great place to raise a family.
Your observation was really very interesting and very informative. Thanks for the information. I learned a lot. I enjoyed reading it.
I lived in Santa Barbara for 15 years. Now living in the southeast. Just looking for the right moment to move back.