So where has the market been in Hope Ranch here in Santa Barbara? Overall, the real estate market in the Hope Ranch area has been a little slower than normal and most sales have been in the lower end price point for this area. Here is simple to view summary of the real estate market for Hope Ranch for the summer months through until the end of October 2011.
Closed Sales in the Hope Ranch Area
- During these 5 months from June – October, Hope Ranch has had approximately 13 Closed sales of single family homes. The lowest priced sale that was recorded during this stretch of the year was a bank owned home located at 926 Canon Road that closed for $1,210,000. Homes in this price range are tending to get multiple offers when priced well and this home was no exception with 8 reported offers. The highest sale during this time was a wonderful masterfully created Spanish Revival Style Estate with ocean views that closed for $7,200,000.
Current Active Homes for Sale in Hope Ranch
- Currently as of November 1st, 2011, there are approximately 25 homes available for sale or pending sale in the Hope Ranch area. The lowest priced available home is a bank owned home located on Las Palmas that once again reportedly just received several offers and is now pending sale. It was a true fixer and priced accordingly at $1,039,500. Once again, any home that is priced at this entry level price point for Hope Ranch (roughly $1 to $1.4 million) is generally seeing multiple offers.
- Currently the highest priced homes and estates on the market in Hope Ranch are priced at $9.9 million, $11.8 million and $24.5 million.
Hope Ranch is located west of Santa Barbara and is essentially a high end neighborhood of Santa Barbara only a 2-3 minute drive from downtown.
- Montecito 2010 Year End Sales Stats
- Santa Barbara 2010 Year End Sales Stats
- Santa Barbara Ocean Front Areas
- Santa Barbara Luxury Real Estate
- Most Significant Montecito Luxury Real Estate Sales 2011…so far
Search: The Santa Barbara Area MLS
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.
For more information on Real Estate here in Santa Barbara, Montecito and/or our surrounding areas, as well as any other aspects of life in the Santa Barbara area, please don’t hesitate to contact Kevin Schmidtchen at Sotheby’s Int’l Realty.