Homes in the $4 to $5 Million Range

By Mark Ashton Hunt   |   July 23, 2020

The months of May and June, and now into July 2020, are proving to be the most active real estate months that many can remember in Montecito during the past 15+/- years. Whether it be Boomers flexing their buying muscle and finally committing to a place in Montecito, perhaps Ellen’s celebrity friends, the Bay Area tech success stories and of course, the COVID refugees from LA, NY, and elsewhere… Whatever the reason or whoever they are staking claim here in Montecito, sales are brisk across all price ranges.

As I type this, there are 43+/- homes under contract and pending in escrow in Montecito. This is a huge number (considering the average at any given time in recent years is more like 25-30ish homes in escrow at one time).

From condos to starter homes under $1,500,000 to oceanfront homes on Miramar Beach near and over $10,000,000, all price ranges are represented in Montecito’s current pending properties list, according to the Santa Barbara Multiple Listing Service, MLS. Yes, it is summer, when sales are usually higher, but this is something else.

Even sellers who were off the market or hesitating to list are now saying, bring me a buyer, here’s my price. It is important to note though, that while some “done” and unique opportunity homes are going into escrow quickly once on market (or selling privately off market) and can fetch near asking price, many properties are selling under asking price, and some have lowered in price over time and now are finally selling.

As usually reflected, about half of the properties in escrow right now are under $3,000,000. This sector of the market is made up mostly of smaller homes, fixer opportunities on larger lots, and condos for the most part. Surprisingly, a price range showing movement in sales is the $3,000,000 to $6,000,000 market, which has seen significant recent activity.

Below are four properties currently on the market (as I type anyway) in that $3,000,000 to $6,000,000 range for you to consider. I’ve selected two homes with identical price tags at two price points here for your comparison. One is located here, another there, one is single story, another is two story… but all are within our coveted Montecito, 93108.

502 Picacho Lane – $4,495,000 – Upper Village area with pool on one acre

Located just a few short blocks from the Upper Village, Montecito Union School, and set on one of Montecito’s most coveted streets, this 4-bedroom plus office home offers an indoor / outdoor lifestyle within your own private and expansive grounds. Live just minutes to everything in Montecito… from stores to trails to beaches and back.

Adding to the open airy feel of this home and property, three sets of French doors connect the living room with the terrace and yard and entertaining areas. An eat-in kitchen connects to the dining and family rooms and has an open feel.

The main bedroom suite is a private oasis with spa bath and large walk-in closet. Lush, level grounds offer a tropical feel and are great for play, privacy, and planting. The resort style pool is ready for a summer splash or moonlit dip. All this and within the Montecito Union School District.

2896 Hidden Valley Lane – $4,495,000 – Three foothill acres with pool and views

Nestled on 3+/- acres and surrounded by other multi-acre estates, find this Mediterranean-style home offering 5,600+/- square feet of living space, all on one level. Ocean and mountain views can be enjoyed from the home and grounds in this very private setting that is just a few driveways up from Ladera Lane with direct access to shopping and dining on East Valley Road or into Summerland and the beaches down Toro Canyon Road.

The single-level main residence was recently renovated and features custom details and finishes. Vaulted open-beam ceilings, floors of terra cotta and wood, and an abundance of space and light are just some of the features this home offers.

The terrace hosts a pergola, pool, barbecue area and built-in fire pit, while the grounds provide a wealth of drought-tolerant landscaping, fruit trees, citrus orchards, raised planters and an array of beautiful flowers. Additionally, the versatile accessory structure (once the property’s original home) has its own driveway.

2049 Boundary Drive – $5,950,000 – Guard Gated, Birnam Wood

Completed in 2019, this single-level French Country-style home is Birnam Wood’s newest showcase property. Designed by Michael L. Hurst, the residence represents the level of luxury and comfort for which Birnam Wood is renowned.

There are open-beam cathedral ceilings, wide-plank oak floors, and spacious bedrooms, each with spa-like baths en-suite. Many rooms of the home frame the 12th green of the community’s award-winning golf course. A dramatic great room opens to a veranda, just steps from the golf course, and serves as the perfect place for entertaining. Nearby, the spacious custom chef’s kitchen opens to the rear gardens.

The home rests on approximately 0.91-acres of majestic oaks and landscaping and homes within Birnam Wood are located within the Montecito Union School District.

808 San Ysidro Lane – $5,950,000 – Live a block from the San Ysidro Ranch

Positioned along San Ysidro Lane, between the Upper Village and the San Ysidro Ranch, this estate offers privacy and an A+ location, surrounded by other equally and more expensive homes. The open shaped lot (also .91 acres in size as is Boundary Drive), has been used well, accommodating the substantial main home, pool, driveways and yard areas.

The floor plan pairs dramatic volume with intimate spaces and en-suite bedrooms, while the kitchen/family room opens to a central courtyard and poolside terrace beyond. The main bedroom suite offers inspiring mountain views out over the private yard, and provides a peaceful oasis to begin and end your days.

Outside, a guest suite is perfect for visitors or as a home office. Additionally, this home is located within the Montecito Union School DistrictADD PIC D

For information on any of these listings or to have me arrange a showing with one of the listing agents, please contact me directly, or call/text 805-698-2174. Please view my website,, from which this article is based.


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