The Santa Barbara Groups Real Estate Blog

The high end sector of our market has been very quiet this year compared to others. Described as $5,000,000 or more, the inventory seems to be growing at an unhealthy rate, but this week has shown some signs of life.

A beach property in Carpinteria located on Beach Club Road came on the market for $6,850,000 and sold in just 7 days. Built in 1970 it features 2 beds and 2 baths with .33 acres, it closed for $6,100,000. Quite a bit off the asking price, but a great price for the seller nonetheless.

Another beach house located at The Rincon came on the market 20 days ago for $6,500,000 and went into escrow today. It featured 3 beds and 4 baths plus a studio over the garage.

A very nice Hope Ranch home went into escrow todays as well. This was a large 5 bed 7 bath masterpiece built in 2006, sitting on about 3 mountain view acres. It was listed for $9,950,000 and had been on the market for 60 days before selling.