Where do I Find The Least Expensive Real Estate in Santa Barbara CA?

A few times a month I am contacted by people (especially from out of town) who are interested in the most affordable areas of real estate here Santa Barbara Least Expensive Real Estate 2010in the Santa Barbara area.  Most often these people are very aware of the higher real estate prices here in our town and are expecting the prices to be what they area...but this is not always the case. To us that live here, real estate prices are high, but we do understand the quality of life that Santa Barbara offers.  We understand that when you are looking at a home that will sell for $1 million, you are most likely paying 1/3 to 1/2 of this value just for the lifestyle and the reality of living here in Santa Barbara.

So where are the most affordable areas within Santa Barbara?

Not looking at mobile home parks, the cheapest options to own real estate in the Santa Barbara area are within condo complexes scattered around town as well as some single family homes here and there.  Here is a list of the 10 least expensive sales in Santa Barbara since January 2010.

  1. 410 Camino del Remedio #F.  Sale Price $207,000. This is a nice condo complex located between Santa Barbara and Goleta.  Most of these units have County Affordable Unit Restrictions, but not all of them.
  2. 231 Cottage Grove.  Sale Price $265,000. This was a bank owned property needing work located in the downtown area of Santa Barbara.  It was located on a very small lot, but still an incredible price.  Most fixers in the downtown area are selling for at least $400,000...again based on location and condition etc.
  3. 1216 East Montecito Street.  Sale Price $275,000. This was a complete tear down and pretty much sold for lot value.
  4. 3914 Via Lucero #D.  Sale Price $290,000 to $305,000. This is a small condo complex located off of upper State St.  Most of these units were in foreclosure this year and needed cash offers...hence the lower prices.  Units that lenders would lend on sold in the $400,000 range.
  5. 1233 East Gutierrez St.  Sale Price $315,000.  This was a true fixer located on the lower east side of Santa Barbara.  Most of the sales this year in this area are ranging from about $450,000 to $600,000 based on exact location and condition.  This sale ended up being the least expensive.
  6. 864 Highland Drive #7.  Sale Price $340,000. The SB Highlands is a great larger condo complex located up near the Mesa.  Many of the units have good city views and even a few with peak ocean views.  Most units are 2 bed 1.5 bath and some 1 bed 1 bath.
  7. 2117 Castillo #A.  Sale Price $342,000. This was a bank owned newer 1 bed 1 bath condo.
  8. 645 North La Cumbre Road.  Sale Price $350,000. This was a tear down and again sold for lot value.
  9. 229 Por La Mar Circle.  Sale Price $359,500. The Por La Mar condos are great condos located just a few hundred feet from East Beach.  Wonderful location with tennis courts, lush pool area and walking distance to East Beach.  Most sales in here are the 1 bedroom 1 bath or the 2 bedroom 2 bath.  There are a few 3 bedroom units.
  10. 1233 Richelle Lane.  Sale Price $370,000. These are the town homes across from Eilings Park and very close to Hendry's Beach.  This particular unit was a short sale.

Further Reading:

  1. Buyer's Resources for the Santa Barbara area
  2. Seller's Resources for the Santa Barbara area
  3. What Questions Do You Ask Your Santa Barbara Realtor?
  4. Where Do I Search for Santa Barbara Real Estate?
  5. Where Do I Find Inexpensive Real Estate in the Santa Barbara Area?

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. Subscribe to Receive Personal Listings of Santa Barbara Real Estate Search The Santa Barbara Area MLS

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