Four of the ten highest priced real estate zip codes in the United States lie in California according to CNN Money Magazine. Second in California is 93108 which encompasses homes in both Montecito and Santa Barbara. The only zip code with higher prices in California is 90210 in Beverly Hills. The determination was based on the number of home sales of $5 million or more over the last 12 month period ending June 30th. Although Beverly Hills had more ultra-high end home sales than Montecito, Montecito’s median price of $2.4 million eclipsed the median in Beverly Hills by $400,000.
The article mentioned Montecito’s Mediterranean climate and cool Pacific breezes creating perfect weather as a big selling point. This certainly helped in the recent sale of 1755/1745 Fernald Point priced at $28 million. A modest 3 bedroom 4.5 bathroom house on 3.16 acres with building plans for a larger home.
You don’t have to purchase a property in the high priced 93108 zip code to enjoy what many consider to be the best living accommodations in California. There are nine other zip codes in and around Santa Barbara to choose from, and most currently have median home prices under $1 million. I look forward to providing you with great buying opportunities in all of Santa Barbara’s beautiful locations throughout the year and appreciate your inquiries.