Santa Barbara Luxury Real Estate Sales - Statistics Through Sept 15th, 2009
Here and there I am proposed various questions from clients about the luxury market here in Santa Barbara CA., such as where are the most luxurious homes located and/or what is the most expensive sale this year. Many times though it is as "simple" as what is the true definition of luxury real estate here in our area. The answer is that there is no exact definition of luxury real estate and this varies greatly depending on the circumstances, whom you talk to, location in our town etc. But in order to provide some statistics, I am going to break it down with price being the simple parameter. --For our purposes here, I am going to refer to the luxury market here in Santa Barbara proper as any sale over the $2.5 million mark. During the first 8 months of 2009, there were only a total of 3 closed sales of luxury single family homes here in Santa Barbara proper. As of Sept 15th, 2009, there were 2 properties in this luxury market that were pending sale (under contract). The highest sale within this luxury market was an exquisitely remodeled Mediterranean home located on the Riviera with ocean, island and harbor views. Highlights of the home include 4 bedroom suites, lofty beamed ceilings, a gourmet kitchen, a pool, and more. The property was located at 939 Arbolado Road, Santa Barbara CA, 93103 and sold for $3,225,000.
The 2 other sales of luxury property so far in Santa Barbara proper this year were:
- 256 Loma Media Road, Santa Barbara CA., 93103. This property was a Spanish masterpiece again with sweeping views of the ocean, islands and harbor as well as lush gardens. The property sold in May for $2,775,000.
- 1415 Mission Ridge Road, Santa Barbara CA., 93103. This property was also an ocean view Riviera home with wonderful workmanship and lush grounds. The property sold in July for $2,575,000.
Overall, the luxury market here in Santa Barbara proper was a decent amount slower in comparison to the first 8 months of the last few years. Overall, most of our sales so far this year in the luxury market were concentrated in Montecito, Hope Ranch and Carpinteria. In Santa Barbara proper, most of the activity for the first part of the year has been in the $400,000 to $2 Million price range.
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 Berkshire Hathaway.
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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