Montecito Real Estate – 93108 Zip Code Once Again Among The Richest in America at #3

High end sales are nothing new for Santa Barbara and our surrounding communities.  Within Hope Ranch, Montecito and along the coastline, we see some very exclusive high end real estate sales each and every year.  Many of these sales are topping out above the $10 million mark.  I just read a recent article by CNBC, that once again ranks Montecito and 93108 as the 3rd rated zip code in America when it comes to the number of homes that are selling at $10 million or more.  Over the last year,... Continue Reading >

High End Luxury Montecito Real Estate Sales Continue Their Strong Pace

The very high end luxury real estate market here in Montecito is seeing a great deal of activity and sales here in the first part of the year.  This is in pretty stark comparison to the sales here in the last year(s). 2009 - 10 Total sales over $7.5 million 2010 - 14 Total sales over $7.5 million 2011 - 4 Total sales over $7.5 million In 2012, we have already seen 8 total closed sales over the first 5 months of the year, 5 of which have been over $15 million. Right now in our very high... Continue Reading >

Montecito Real Estate – Luxury Market Update First 10 weeks in 2012

After a relatively slower luxury high end real estate market here in 2011 in the Santa Barbara area, 2012 has started out with a fair amount of activity in our luxury high end market.  For purposes of this post, I will be referring to the luxury high end real estate market as home values of $7,500,000 and above. In the Santa Barbara area, the areas in which we find these higher values tend to be pretty much centralized in Montecito, Hope Ranch, along the coastline / beach front or on a larger Ranch.  Additionally, most... Continue Reading >

Montecito CA. Real Estate Once Again Finds Itself in Top 10 Wealthiest Zip Codes in the U.S.

Once again, America's most expensive zip codes includes Montecito CA.  Coming in this year at #9, statistics show that the median home price here in Montecito to be at $3,099,000.  So far this year, the most expensive sale in Montecito was a dated, but clean ocean front home located at 1473 Edgecliff Lane that closed for $10,750,000.  Other significant sales were a brand new Mediterranean Estate with privacy and panoramic ocean views located at 1379 Oak Creek Canyon Road.  This wonderful Estate closed for $9,000,000.  Another gorgeous Italian Villa located... Continue Reading >

Montecito Real Estate Update – Pulse of The Market $2.5 to $4 Million

As the overall market prices have fallen in the last 2 years, the heart of the Montecito Real Estate market is once again around the $2 to $4 million price point.  Currently I am working with 4 sets of clients that are looking in this price range and so I thought I would give a quick update as to where it feels that we are at. In a quick word...slow.  Year to date there have only been 15 sales in this price point from $2.5 to $4 million.  Currently there are... Continue Reading >

Montecito CA. Luxury Real Estate Sales – Statistics Through Sept 15th, 2009

Here and there I am proposed various questions from clients about the luxury market here in Montecito CA., such as where are the most famous homes located and/or what is the most expensive home to sell this year or any year for that matter.  Many times though it is as "simple" as what is the true definition of luxury real estate here in the Montecito area.  The answer is that there is no exact definition of luxury real estate and this varies greatly depending on the circumstances, whom you talk... Continue Reading >

Montecito in the Top 10 Most Expensive Real Estate Zip Codes in the United States

People in general will always be attracted to beautiful areas within the United States when it comes down to real estate.  For many, these places are also a great place to invest in when times are as uncertain as they have been in the last 18 months.  One reality about the real estate market in the more exclusive and expensive areas in our country that seems to hold true is this -- values tend to rise the fastest when times are good and these areas also hold onto their real estate values the best when times... Continue Reading >