Here and there I am asked from clients and non clients various questions about the luxury market here in Hope Ranch CA., such as do you know where famous homes are located at and who lives there and/or what is the most expensive home to sell this year or any year for that matter. Most of the time though it is as “simple” as what is the true definition of luxury real estate here in the Hope Ranch area of Santa Barbara. The answer is that there is no exact definition of luxury real estate and this varies greatly depending on the circumstances, whom you talk to, location in our town etc. But in order to provide some statistics, I am going to break it down with price being the simple parameter.
– Thus for our purposes here, I am going to refer to the luxury market here in Hope Ranch CA. as any sale over the $4 million mark.
During the first 8 months of 2009, there was a total of only 1 closed sale of a luxury single family home here in the Hope Ranch area. As of Sept 15th, 2009 though, there were 3 properties in this luxury market that were pending sale (under contract).
The highest (only) sale within this luxury market was a masterful Mediterranean home behind handcrafted wrought iron gates situated at the end of a long brick drive way. The home sits on the top of a gentle knoll overlooking Laguna Blanca Lake in the center of Hope Ranch. Truly one of Hope Ranch’s finest residences. This 5 bedroom with 5 full baths & 2 half baths is situated on nearly 3 view acres. There is an over sized infinity pool with jacuzzi/spa, an office area, a home theater, a wine cellar, a music room, a game room and more. The property was located at 4280 Via Esperanza, Santa Barbara CA., 93110 and sold in June for $8,200,000.
Overall, the luxury market here in Hope Ranch this year has been a fair amount slower in comparison to the first 8 months of the previous few years. Prices overall have also taken a pretty sizable hit in the last 12 months with much of this market dropping 25-40% from its peak. Below you can also view the luxury sales in Santa Barbara proper, Montecito and Carpinteria.
If you would like a more complete update on any of these properties or any part of our Luxury Market and/or any other areas within Santa Barbara, Montecito, Carpinteria, Goleta, Hope Ranch, Summerland, and/or The Santa Ynez Valley, please feel free to contact me.
- Montecito Luxury Real Estate Sales – Statistics 2009
- Santa Barbara Luxury Real Estate Sales – Statistics 2009
- Carpinteria Luxury Real Estate Sales – Statistics 2009
- Santa Barbara Luxury Real Estate
- The Oceanfront Area – General Description and Information
- Santa Barbara Photo Tour
For information on Real Estate here in Santa Barbara, Montecito and/or our surrounding areas, as well as any other aspects of life in our area, please don’t hesitate to contact Kevin Schmidtchen at Sotheby’s Int’l Realty.
Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.
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