Santa Barbara Luxury Real Estate – Pick Up in Sales Activity

The Santa Barbara luxury real estate market has seen an uptick in sales activity recently. An oceanfront home on famed Padaro Lane has just closed escrow at $12 million. It was listed at $14.5 million less than 6 months ago. Another Santa Barbara sale was not as fortunate with time on the market. This Montecito Estate on 10 acres was listed in 2012 for $12.9 million. It just closed escrow at $9.725 million.