So What Does $1 Million Buy You in Today's Santa Barbara Real Estate Market?
As the Santa Barbara real estate market has come down in price over the last few years, it is interesting to now compare certain benchmark price points such as what $500,000 buys or $ 1 million or $2 million etc. Overall in the last 12 months we have been relatively stable on prices with a small overall drop...so there has not been a huge change in the last 12 months. Nothing at least compared to 2007 - 2009 where we dropped a combined 25-40 % depending on exact neighborhood, home etc.
So what does $1 million buy you here in the Santa Barbara area?
Impeccable Mediterranean style 2bd/ 2.5ba “Builder’s Model” Town home located near downtown SB and area beaches. Quality appointments include top-of the line appliances, custom cabinetry, 10’ ceilings and large Master suite with walk-in closet & fireplace. Open floor plan with multiple view balconies, over sized 2 car garage w/ interior access, guest suite and private laundry room. Asking price of $1,049,000 and a selling price of $950,000 after 3 months on the market.
Custom built Spanish style home featuring red tile roof, courtyard entry, 4 bedrooms, 3.5 baths, two fireplaces, family room, office, incredible ocean and island views, park like grounds. Asking price of $1,195,000 and a selling price of $1.052,000 after 3 months on the market.