Special offer

Ten Sales over $1MM in Santa Barbara/Montecito

By
Real Estate Agent with Kathleen Barnato, Your Santa Barbara & Montecito Connection

The entry level market in Santa Barbara is under $1MM; in Montecito it is under $2MM.

As I write this on April 11, I find that since April 1, there have been 10 sales pending reported on properties priced over $1MM in Santa Barbara as well as in Montecito.  This bodes well for the recovery of the higher end market in our area.     Many of these properties received multiple offers!

http://www.flexmls.com/cgi-bin/mainmenu.cgi?cmd=url+other/run_public_link.html&public_link_tech_id=u75ib7zfszc&s=1&id=1&cid=1

This link will be active for a couple of weeks - click on it to see full profiles of the following properties:

1475 E. Mountain Drive, Montecito - listed at $7,950,000

1475 e. mt

2112 Santa Barbara Street - listed at $3,500,000

1654 Moore Road, Montecito, listed at $3,395,000

216 Ortega Ridge Road, border of Montecito/Summerland - listed at $2,685,000

3626 San Remo Drive - listed at $2,150,000

620 Randall Road, Montecito - listed at !,750,000

42 Seaveiw, Montecito - listed at $1,300,000

3035 Hermosa Road - listed at $1,250,000  (www.hermosaroad.com)

hermosa road

In the first quarter of  2011, half of the sales reported pending were over $1MM (out of over 110).   

Overall, in all price ranges, agents are reporting multiple offers on properties.  Once a property hits "value" there are buyers waiting in the wings.  Now...we just need the lenders to make it a little easier!

Ps:  For you CRS Realtors coming to Santa Barbara for our networking meeting on April 15 - call me for a private tour of property - I'd love to show off my 'hood!  And I look forward to seeing you at the Boathouse Restaurant for a little pre-party.

 

 

 

 

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Comments (4)

Kim Sellers
Lake Arrowhead, CA Coldwell Banker - Lake Arrowhead, CA
Lake Arrowhead Realtor - BRE#01412099 - Lake Arrow

We are seeing our higher end moving very well in Lake Arrowhead too.  Good news.

Apr 11, 2011 11:04 AM
Michael Kitsch
Coldwell Banker - Katy, TX

I'll take the first one.  But, the second is nice, too!

Apr 11, 2011 11:07 AM
Kathleen Barnato
Kathleen Barnato, Your Santa Barbara & Montecito Connection - Montecito, CA
Realtor - Santa Barbara/Montecito Real Estate

Kim - great news!  I hope we can do some referral business this year!

 

Apr 11, 2011 11:07 AM
Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

This is great news...my area follows yours, by about six months.   

Apr 11, 2011 11:33 AM