A Big January in Montecito’s Real Estate: A New Year and Something of a New Market

Well, my fellow Montecitans, the Montecito Real Estate market started 2025 off with a bang, as January brought the largest number of sold homes in one month in well over a year. January!!! A month that is normally one of the slower of the year is now the benchmark for months to come. With 25 homes selling in the Multiple Listing Service (MLS), in January, this is a 20%+ jump from the past many months. 

And no, these were not “fire sales” in either meaning. That is, the sales were not purchases related those displaced by the tragic fires in the Palisades, Altadena and elsewhere, and neither were these blowout sales prices. Top prices for what was on offer were paid across the board… and a whopping six homes sold over $10 million, with four of those going at or over $20M. Basically, this is unheard of in one month, especially a January. Just six years or so ago, you would only see six sales over $10M in a whole year, not in one month. 

Another change in our market at the top of 2025 is an increase in available housing inventory of approximately 25% over early December of 2024. It seems many property owners are thinking this is a good time to sell and they are correct. That increased inventory, mixed with the many good opportunities that were on the market in 2024, also brings more choices for new buyers.

Whether this momentum maintains, and prices climb even higher, we will see. There are still many listings on the market that I would consider good opportunities and priced well across all price ranges. Other listings that may be stretching up into a price range above where they may belong. That said, if the right buyer sees their dream home and can afford it, they will often (as proven over and over) pay more for the good stuff, and we have seen that already this year. 

One thing is for sure, the highest end of our market is strong, with many of the larger sales being to locals (as I’ve been told by top agents), either buying up or buying down or switching areas in town, etc. We are not, so far, seeing a huge sales surge in our market from those affected by the Palisades and Pasadena area fires, and we send our deepest sympathies and support to those affected. It was just seven years ago that our own community was recovering from the intense fires and floods of December 2017 and January 2018, respectively. 

So, if you are still looking for your home in Montecito, here are a few that I’m surprised are still on the market, (though they may be gone by the time you read this). Happy rain days, and please remember to keep Montecito friendly. Let’s maintain Montecito as a place we can all enjoy, where neighbors communicate with respect and gratitude for living here, outside of the chaos going on outside of our historic and lovely coastal enclave. 

Please remember I’m here to help with any of your Real Estate needs in town, including helping you see any of the properties featured here today that are listed with other great area agents. Until next time…

1220 Coast Village Road #201 – $1,495,000

This is the lowest priced listing in the Montecito Union School District, located in the heart of Montecito, elevated up above the street and set back on Coast Village Road, near all the dining, shopping and area beaches. As you step inside, you’re immediately greeted by a warm, bright and inviting atmosphere in a peaceful setting with the home oriented towards the botanical-like gardens. Maple hardwood floors, abundant recessed lighting, high ceilings and tranquil views of the lush landscaping highlight the spacious layout. 

The kitchen has been thoughtfully updated with custom cabinetry, granite countertops and stainless-steel appliances and flows nicely into the open living and dining areas. Both bedrooms offer excellent privacy, generous space, built-in custom closets, updated bathrooms and serene views.

135 Pomar Lane – $5,795,000

This single-level contemporary home is tucked behind mature hedges in Montecito’s coveted Hedgerow neighborhood, just blocks to the Rosewood Miramar resort and within the Montecito Union School District. The fully remodeled 3 bedroom, 2.5 bath home is on a low traffic, somewhat hidden lane resting on a level, usable parcel with mature landscaping and off street parking for guests. Inside, elevated interiors, high ceilings, a chef’s kitchen and meticulous details abound. 

The front gardens offer outdoor living with an expansive patio, barbecue, sprawling lawns, and a Zen Koi pond to enchant visitors. Complete with French Oak wide plank floors, all-new interior doors and windows, and multiple skylights – each space in the open yet intimate floor plan offers understated elegance. The primary suite enjoys garden views, French doors to a private patio, and an en-suite bathroom. Step outside to discover a picturesque setting for al fresco gatherings, centered around the custom outdoor fire pit near a peaceful water fountain, all nestled beneath the shade of a soaring magnolia tree. 

109 Rametto Road – $15,750,000

Reminiscent of Hollywood’s ‘‘Golden Era,’’ this magnificent 1920s Montecito estate boasts breathtaking ocean/island views and embodies a rare blend of stunning architecture and unmatched quality. Originally constructed for C.K.G. Billings and designed by the renowned architect Carleton Winslow, this palatial property overlooks the Montecito Club and Bird Refuge. Seamlessly uniting seclusion and proximity, the property is close to world-class restaurants, upscale boutiques, and pristine beaches. 

Featuring grand bedrooms, libraries, offices, living and dining spaces, with 10 fireplaces and 14 bathrooms, every facet of this residence exudes regal splendor. The pool area evokes the ambiance of both the Beverly Hills Hotel and the legendary Neptune Pool at Hearst Castle, offering sweeping Pacific Ocean/Channel Island vistas, expansive terraces, and lavish dressing rooms. Elevating entertainment to unparalleled heights, the home enjoys an envy-inducing game room, a remarkable home theater, and an exquisite wine cellar. “El Descanso” stands as a testament to luxury living from a bygone era that will endure for generations to come.

1640 East Mountain Drive – $26,000,000

Perched at the pinnacle of Montecito at the top of the Golden Quadrangle, this incredible ocean-view estate offers an epic lifestyle. Nearly 360° views of the ocean, foothills, and Channel Islands stretch from Malibu to the Santa Barbara harbor, creating a visual canvas that is sure to impress even the most discerning eye. Additionally, this A+ address is adjacent to and overlooks the beloved San Ysidro Ranch, known for its world-class dining, gardens, and spa. 

The classic residence offers a flexible floor plan with open and impressive common areas and offering seven bedrooms and 12 bathrooms in approximately 14,000 square feet of living space. A two-story atrium greets guests with a dramatic sense of arrival. Gracious public spaces open up the view and foster a sense of indoor/outdoor living. Upstairs, walls of glass in the spacious primary suite let you overlook the whole of Montecito. Outside, level grounds and multiple entertaining area destinations enjoy the sweeping collection of views. What makes this listing so incredible is the profusion of level and usable outdoor areas, an uncommon feature of estates in the hills, and all within the Montecito Union School District as well.