Monday, January 28, 2008
The luxury real estate market of Santa Barbara has exceeded its record recently, as the prices have reached over $10 million. The 2007 escrow sales revenue of the Santa Barbara luxury real estate market was $279 million and in 2006 it was $219 million, in 2005 it was 128 million and in 2004 it was only about 74 million. Now the luxury real estate market is facing low supply and high demand. The Santa Barbara economic environment is very strong, and this luxury real estate market is not suffering from any foreclosure or sub-prime. Every buyer of Santa Barbara knows that this is one of the most beautiful places in the world with oceanfront and mountains.

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