Santa Barbara Oceanfront Real Estate – Just Closed. The Santa Barbara oceanfront real estate market had an impressive sale just recently. A Cape Cod style Estate on just under 2 acres on desirable Padaro Lane has just closed at $16,198,000. High end buyers are stepping up. Closed sales in the Santa Barbara luxury real estate market are very strong. As of today, the Santa Barbara luxury real estate market has closed nearly $207 million in sales this year. That compares with just over $70 million for all of 2011. To view homes matching your specific criteria, click SEARCH SANTA BARBARA OCEANFRONT HOMES FOR SALE. Click DREAM HOME FINDER to receive email updates of new listings and price reductions matching your specific needs. For personalized attention, call Wendy Gragg at 805.453.3371 or email WGragg@DistinctiveRealEstateOnline.com