The Santa Barbara luxury real estate market is setting records again! 2019 was a record setting year, and 2020 is on pace to blow past 2019. The Santa Barbara luxury real estate market is defined as homes priced at $10,000,000. and above. 2019 had a record $364,735,903. in closed sales volume. 2020 currently has $364,686,017 in closed sales volume with 3 pending sales priced over $10,000,000. The Santa Barbara luxury real estate market, specifically the Montecito luxury real estate market has enjoyed a surge of demand from luxury buyers from Los Angeles and San Francisco following the Corona Virus Pandemic.
Among some of the most notable sales are:
A 236 Acre Family Compound on the market since 2014 that sold for $63,250,000 in October 2020.
Rob Lowe’s sale of his newer Estate, Oakview for $44,500,000. in October 2020.
3 parcels on Picacho Lane sold in a combined sale for $49,000,000. in October 2020
Eric Schmidt’s purchase of a historical ocean view Estate for $30,800,000 in July 2020.
Among the most notable recent listings is Ellen DeGeneres & Portia de Rosi’s home just outside Montecito. They paid $27,000,000. in January 2019. After a remodel, they have relisted at $39,900,000.
For more information or to discuss a purchase or sale, call or text Wendy Gragg 805.453.3371