Santa Barbara Luxury Real Estate Sales Activity
Sales in the Santa Barbara luxury real estate market in 2011 have certainly favored the buyers.
In the Santa Barbara oceanfront real estate market, there have been 3 sales so far. One on Channel Drive was a private sale, outside of the Santa Barbara Multiple Listing Service. The sales price was $27 million. There was another oceanfront sale on Sand Point. This Santa Barbara oceanfront home was listed at $7.1 million and sold at $5 million. A discount of 29.5%. The other Santa Barbara oceanfront sale so far was on Padaro Lane. This was listed at $8.750 million and sold for $6.6 million., a discount of 24.5%.
In the Santa Barbara luxury real estate market we saw a home on Ortega Ridge listed at $6.950 million, that sold at $5.3 million, a discount of 23.7%. A home on San Ysidro Lane in Montecito, near the famed San Ysidro Ranch, that was listed as high as $8.377 million, and recently sold at $5.650 million, a discount of 32.5%. A contemporary beauty on Glen Oaks in Montecito listed at $7.8 million, sold at $6.250 million, a discount of 19.8%. Another San Ysidro home listed at $6.9 million, sold at $6.250 million, a discount of 9.4%. Another Montecito home on Glenview was listed as high as $10.8 million, sold this year at $6.3million, a discount of 41.6%. A Montecito home on Picacho Lane was listed at $8.950 million and sold at $6.156 million, a discount of $31.2%. A Montecito Estate listed as high as $12.5 million, sold in 2011 for $6.8 million, a discount of 45.6% A celebrity owned home on Brooktree was listed at $6.950 million, and sold at $6.8 million, a discount of 2.1%. A historic home on Alston Road was listed at $7.950 million, and sold at $5.375 million, a discount of 32.3%. A fixer on East Mountain Drive in Montecito was listed as high as $10 million, and sold recently at $7 million, a discount of 30%. A horse property in Hope Ranch was listed as high as $13.7 million, and sold recently for $7.2 million, a discount of 47.4%. A Montecito Estate on Sycamore Canyon was listed as high as $11.960 million changed hands this year at $7.9 million, a discount of 33.9%. Another Hope Ranch property listed at $7.950 million sold for $6.1 million, a discount of 23.2%. Rounding out the Santa Barbara luxury real estate sales activity so far this year, is a Montecito Estate that was a private sale. This sold at $16 million.
Its clear from these recent comparable sales that the luxury real estate market in Santa Barbara, Montecito and Hope Ranch, as well as the Santa Barbara oceanfront real estate market are seeing signficant discounts to list prices.
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