Tucked between the Santa Ynez Mountains and the Pacific Ocean, Montecito on California’s coast offers a rare combination: natural beauty, privacy and enduring appeal to high-net-worth buyers. It’s where British royalty and Hollywood titans trade the rush of city life for ocean breezes and palatial estates.
Nature defines the Montecito experience. Hiking trails wind through the foothills. White-sand beaches are minutes from nearly every doorstep. Mature landscaping and quiet streets reinforce the town’s idyllic, small-scale feel—even if the names on local property deeds read like a who’s-who of the entertainment world.
Here, strict zoning laws limit overdevelopment, preserving the area’s semi-rural charm and exclusivity. With fewer than 9,000 residents, Montecito has long attracted global elites and A-listers. Oprah Winfrey, Prince Harry and Meghan Markle, Jennifer Aniston, Ellen DeGeneres and Portia De Rossi, are just a few who have called it home.
“People who can choose to live anywhere in the world choose to live here,” says Dina Landi of Village Properties.
Post-Election Surge Drives Demand
According to Billy Goldstein of Village Properties, Montecito logged 163 home sales in 2024—identical to 2023—but with a median sale price rising to US $5.4 million, up 4% year-on-year. The increase was largely fueled by strong second- and third-quarter activity, notes Goldstein.
The fourth quarter of 2024 brought a brief slowdown, as buyers paused ahead of the U.S. election. But since then, pent-up demand has reignited the market.
January alone saw more than 25 homes change hands in 2025, marking a 20% increase from the previous year. Among them, four transactions exceeded the $20 million mark. By comparison, January 2024 saw just 12 closings, none surpassing the $10 million threshold.
Zooming out, the long-term trajectory tells a more compelling story: Montecito’s median price has climbed 76% since 2019, the last full pre-pandemic year.
Looking ahead, this year is shaping up to be more balanced. Inventory is slowly rising, giving buyers more time and choice. The numbers on Redfin back it up: homes now spend a median of 65 days on the market, up from 53 days the year prior.
Turnkey Takes Priority
If there’s one clear shift in buyer preferences post-pandemic, it’s the desire for ease. Gone are the days when people want to undergo gut renovations only to experience rising construction costs and long lead times.
“There’s a premium for instant gratification,” says Jasmine Tennis of Riskin Partners Estate Group. “Buyers want to show up with their toothbrush and start enjoying weekends in Montecito.” Robert Riskin of Riskin Partners adds that building costs could rise even further as wildfire-related rebuilding efforts ramp up in nearby Los Angeles—only intensifying the appeal of turnkey inventory.
Supply, however, hasn’t kept pace with that demand.
Consider a recent example: as DeGeneres and de Rossi make their move to the United Kingdom, one property remained in their notable Montecito real estate portfolio—a 1,700-square-foot cottage on Hill Road. The couple purchased the home for $2.9 million in 2020 and returned it to the market in December 2024 at $4.99 million. Within 48 hours, it received multiple offers and ultimately closed 4% over asking. More than a dozen additional inquiries came in after the sale.
The secret? “Fresh staging. Competitive pricing,” says Landi. “Well-presented homes that reflect current buyer tastes are moving quickly.” And some celebrity pedigree, perhaps.
A Distinct Architectural Identity
If Los Angeles is known for sleek, modernist mansions, Montecito leans in the opposite direction. Spanish Colonial Revival estates, ranch-style retreats and historic cottages reflect the town’s character.
“Montecito is, at its heart, an elevated beach town,” says Tennis. “If a home reads too fussy or precious, there’s a disconnect. Buyers gravitate toward a casual yet sophisticated coastal feel.”
Expansive gardens and indoor-outdoor living are hallmarks of the area’s most desirable homes. Single-level estates, or those with primary suites on the main floor, remain especially popular among the town’s older, affluent buyer base.
Even in a town that spans just eight square miles, location matters. Properties near the Upper and Lower Villages command a premium for their walkability to top-tier amenities like Clark’s Oyster Bar, the incoming Nobu at the freshly renovated Four Seasons Resort The Biltmore Santa Barbara, and the members-only Montecito Club. The newly opened luxury outdoor retail center, The Post, adds another layer of cachet with its mix of specialty shops and curated offerings, where even Prada might feel pedestrian.
“You’re never more than 10 minutes from the beach, the mountains, or an incredible meal,” Tennis says. Locals quip that if anything takes longer than 10 minutes to reach, you won’t do it.
And perhaps its greatest asset? As Landi puts it: “You’re likely to add five to ten years to your life. That’s a selling point you can’t put a price on.”
Village Properties is a member of Forbes Global Properties, an invitation-only network of top-tier brokerages worldwide and the exclusive real estate partner of Forbes.
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