Santa Barbara Luxury Real Estate Sales Activity. The Santa Barbara luxury real estate market is beginning to show signs of life again. There were 3 notable sales recently in the Santa Barbara luxury real estate market. An estate on the east end of Montecito just closed escrow at $9,725,000. This Montecito estate sits on just over 10 acres. The main residence is about 8,000 square feet and professionally designed with very high end finish. This Montecito estate was originally listed at $12,900,000. It was on the market about a year and a half before it sold. A Montecito mini estate just closed escrow at $7,600,000. after being on the market for less than a week. This Montecito gem is walking distance to the Montecito’s Lower Village and Butterfly Beach. It was listed at $7,950,000. A Carpinteria contemporary on 6 acres just closed escrow at $5,125,000. It was originally listed at $5,995,000. and was on the market for about a year and a half before selling.
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