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?

218 East Yanonali Street Santa Barbara CA 93101

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. 4707 Sierra Madre Santa Barbara CA 93110

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.

5110 Cathedral Oaks Road Santa Barbara CA 93111
Custom 2-story home on a peaceful & quiet 1-acre parcel located in a private enclave of properties far off the main street. Country feel while being just moments away from schools & shopping. Perfect for dual living/extended family.  Asking price of $1,150,000 and a selling price of $1,050,000 after 2 months on the market.
1050 Mission Canyon Road Santa Barbara CA 93105
Peaceful Mission Canyon estate. Set on over 1.5 acres of woods, this custom property is a nature-lover's dream. Large pool and hot tub are surrounded by several expansive decks with a quaint pool/ guest house. Main house offers open floor plan with expansive view windows, fireplace, cathedral ceilings, master BR with sitting room and balcony. Plenty of storage and parking. Property in county.  Asking price of $1,100,000 and a selling price of $1,050,000 after 4 weeks on the market.
    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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