The numbers are in for Santa Barbara Estates that sold in the final quarter of 2009. The high end, luxury estate market in Santa Barbara includes the areas of Montecito and Hope Ranch as well as Carpinteria(lots of oceanfront) and Summerland. There were a total of 7 properties that closed escrow above the $5,000,000 mark in the past quarter. The year ended with 5 luxury home sales in December above $5,000,000. My favorite house happens to be the most expensive sale for the last quarter at $17,500,000. This is an absolutely gorgeous oceanfront home on Padaro Lane. This Cape Cod home – and being from there myself I can attest that this is an authentic Cape Cod style home – is over 7000 s.f. of exceptional quality. This private gated, oceanfront home for sale features an expansive green lawn flowing down to the sandy beach on highly desirable Padaro Lane. I believe this was a fantastic buy as comparable sales in past years for Padaro Lane oceanfront (or any Santa Barbara oceanfront homes for sale for that matter) have been substantially higher!
The yearly total of estate sales (above $5,000,000) of 26 is just about ½ of the total number of Santa Barbara estate sales in 2008. There may never be a better time to purchase that luxury dream home in Montecito, Santa Barbara, and Hope Ranch (to view homes for sale in Santa Barbara click on any of these links) as the competition for buyers is heated with many motivated sellers in the Santa Barbara high end home market!
May 2010 bring peace, love, happiness, prosperity and good health to all!