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24/7 Wall St.: America’s Most Expensive Neighborhoods

8. 93108

Median list price: $3.19 million
City/town: Santa Barbara, Calif.
Year-over-year change: 2.9%

That Montecito is a 90-minute drive from Hollywood isn’t lost on the dozens of celebrities that claim this 9-square mile suburb of Santa Barbara as home. Like a trendy restaurant with a line around the block, Montecito could probably fill a waiting list of wealthy people who want to move to its ocean-cooled climate (possibly to live near Oprah). The area is also a retirement destination — more than one in four residents were over the age of 65 in 2010. A slight decrease in homes for sale compared to 2011 isn’t helping to satisfy potential buyers.

(iStock)

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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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