What Does $1 Million Buy You Today in Santa Barbara's Real Estate Market?
Where is the Santa Barbara real estate market today with prices and what can you purchase for $1 million today? Over the last 12 months, different sets of statistics will show slightly different views of where our prices are at. Many statistics that I have read tend to say prices are down around 4-6%. Others have even stated that we are relatively flat and stable. As far as the pulse of the market here in Santa Barbara, there is a lot of activity out there across all price points and for many, lack of inventory is the biggest obstacle. Certain homes are even seeing multiple offers of 5-7 buyers. Overall it seems to be that we are down to around 2001 to 2002 prices on average. For the buyer, this obviously means that they can get much more house for $1 million than in the previous years. So what are we starting to see sell at around this price point. Below are a few examples of wonderful homes that have sold in the last few months.
Montecito Entry Level Home $1 Million
Montecito Real Estate for $1 million
Here above is an example of a dated, but well taken care of, light filled single level home with OK ocean views from the dining room, master bedroom and living room. The living room opens to a lovely patio with outdoor brick BBQ. Other features include vaulted ceilings, wood floors, fireplace and nice gardens. Easy access to Montecito and Santa Barbara and perfect as a weekend getaway or condo alternative. This home started at $1,095,000 and sold for $955,000 and is located at 802 Alston Lane in Montecito CA.
Santa Barbara Real Estate $ 1 million
Santa Barbara Real Estate
The home above is a beautifully appointed 4 bed, 2.5 bath, 2,499 sqft Cathedral Pointe home. Great interior location surrounded by beautiful oak trees. Modern construction includes: large kitchen that opens to family room, cathedral ceilings, living room with fireplace that opens to formal dining room, & huge private upstairs master. This home just closed for $950,000.