The Year in Review and Notable Sales

Well, if this fall has been a hint of what winter will be like, I’ll take it as often as I will summer. These past weeks (Thanksgiving week to December 21) have been lovely, and with fewer crowds (the town secret), amazing sunsets, warm days and even some warm nights… those few weeks after Thanksgiving, a calm before the holidays and end of year are always a special time in Montecito. 

Heading into the last half of December, we see rain on the horizon (perhaps while you read this) and we do need rain. Always, as my grandfather, Bill Hunt (for those over 70 from Santa Barbara) and his brother Robert Hunt (if you are over 70 and from the Santa Ynez Valley), when the family gathered, the main topic was often rain, water, and lack thereof. So I’m grateful for rain as much as it limits outdoor fun. And besides, the clouds and mystical life-giving aspects of rain make things smell so good, especially here in Montecito. Not to mention the “over the ocean” Sunsets of December to February. Enjoy!

On the Real Estate front, 2025 was a strong year for sales and sale prices in Montecito’s 93108, on par with recent years past in terms of volume (15+ sales a month on average), though the price ranges and averages have gone up dramatically since 2019. As much as we see an active market, there are many homes remaining on the market longer than I’d imagined they would, some for months or years even… (mostly in the under $10M range but a few larger estates that seem like prime gets).

While many homes have remained on the market, I can report that our available housing inventory may be at the lowest point I’ve seen in 20 years. I’m talking only 65 listings in the Multiple Listing Service (MLS) in Montecito’s 93108 when inventory of recent years would feature near 100 homes for sale, and pre-pandemic numbers were much higher, giving buyers more choices and creating a more competitively priced market.

Below is a quick look at sales in Montecito and the greater 93108 over the past year, January 1 to December 20, 2025, with very few closings likely in the coming last 11 days of the year. There were 195+/- closed escrows listed in the MLS and an astounding statistic emerged; there were more homes sold over $10M than under $3M (which used to be 50% of Montecito’s market just eight years ago, when we would only see five or so homes sell over $10,000,000 in a year).

-2025 SALES IN MONTECITO – 195+/- homes sold according to the MLS history data.

-33 homes sold for over $10,000,000 (from a beach front Miramar shack to hilltop mansions)

-20 sold between $8M to $10M (a prime price range for achieving pool, tennis, privacy goals)

-66 changed hands between $5M and $8M (Montecito’s sweet spot, offering a wide variety of options)

-47 closed between $3M to $5M (What we now consider entry level for a home in the 93108)

-29 listings sold for less than $3M (many condos, smaller fixers, etc.)

Of all ACTIVE LISTINGS on the market in the MLS as of December 20^th, the price range inventory of the roughly 65 available homes on the market breaks down as follows. 

25+/-% of market is asking over $10M

20+/-% is on the market for $7M to $10M

25+/-% is listed in the $5M & $6M range (a lot of inventory in this prime, narrow price range)

30+/-% of the market is priced from $1.6M to $5,000,000

I have shared in the past that our market is one that can be affected each month by just a handful of sales. When 15+/- homes per month is the average (not including the pandemic buyers Gold Rush years), if there were for instance 14 sales one year in Montecito in November and 18 sales the next November, that is a seemingly big jump, though it’s just a couple of buyers, it is a roughly 32% jump in reported sales. It is a rollercoaster statistically, mainly because of the small tally each month, not necessarily because of big shifts or movements in the overall market. 

It takes many months of down sales in a row to become a trend toward a slowing market. That is why we don’t always notice a slowing market until we are in it. With sellers asking top dollar or more for homes and then reducing over time, it makes the market appear to be slowing or going down, but ultimately, sales prices tell the story. 

Where we are now feels, to me, like a leveling off. We saw many homes start out with astronomical asking prices, many of which reduced multiple times in 2025 before finding a buyer. That said, others went over-asking, much to the astonishment of many agents. That old saying is so true; there is a buyer for every home. Congratulations to those who found their dream home this past year in Montecito.

What follows is a gallery of homes that sold in 2025, in Montecito and the greater 93108 zip code. While many gems are not mentioned it is only due to space and the potential limitations of your patience for my appreciation of the Real Estate available here in Montecito. 

We truly love living and working here and appreciate your time. And for those choosing to work with us, we appreciate your business as well. Without you we could not live here.

Happy Holidays and Happy New Year!

Mark & Sheela Hunt

Select Sales in 2025 in Montecito

1220 Coast Village Road #104 – $1,275,000

This was the lowest priced recorded sale in Montecito in 2025. Entry level, two-bedroom, two-bathroom condo near shopping and the beach. Buy a condo like this, join the Montecito Club and – boom! – instant lifestyle.

2165 Veloz Drive – $4,000,000

One of the more enticing listings of the year, in a great area, quiet low traffic street in the Montecito Union School District. A spacious mid-century home with upside on an acre. Land value here is around $3M so the home in place provides huge potential for making it your own as an owner/user. One of the only home sales that I feel had enough upside potential for a profitable flip if reimagined tastefully and with attention to budget.

2775 East Valley Road – $4,477,900

In East Montecito, not in the Montecito school districts, but not far away, was this under $4.5M tennis court home on an acre. Perhaps the last time you will see a tennis court home under $5M in Montecito. This home was on and off the market over the past years and I was happy to see it found a new owner. Huge upside potential here.

454 Meadowbrook Drive – $5,200,000

Entry level Ennisbrook (gated community). Spanish style, light and bright home. Was listed well higher and yet set a high point for the lowest price one can expect to pay in the Casitas section of the greater Ennisbrook community, where homes on larger lots fetch more like $7M to $20M and up. Pool, tennis, guard gated, the community at Ennisbrook offers a complete lifestyle and all homes are within the Montecito Union School District.

1319 Plaza Pacifica – $6,450,000

This was a huge sale for a condo at the desirable, Bonnymede community at Butterfly Beach. Proof that well-done listings, do sell. While there are only side window ocean views (at a head-on view price), there are rare three bedrooms with over 2,000 square feet of living space, and this unit was widely considered by agents to have been remodeled with utmost care and taste. Someone agreed and paid the price. Tennis, pool, guard gated community at the beach and close to town all in the Montecito Union School District… what’s not to love?

155 Santa Isabel Lane – $7,550,000

One of the more surprising sales prices of the year, in my opinion, resting in a once $2 to $4M neighborhood just a few years ago, this home was listed at $6,350,000 and went for more than a million over asking in a matter of days. That said, the home has it all with nearly 3,000 square feet of living space, four bedrooms and an office, private yard, pool, close to town, the beach and in the Montecito Union School District.

1586 San Leandro Lane – $8,125,000

“Finally, she sold,” he said. This prime hedgerow Spanish style pool home had been on and off the market, rented, etc… for years, and finally found a new owner. Prime, 1.3-acre lot, move in ready, yet with upside potential, room for tennis court, etc. This $8 to $10M price range really offers a lot for the dollar and this home delivered for her new owner.

1366 Oak Creek Canyon Road – $12,250,000

For me, this was the estate deal of the year. Set on six, closed-in acres in the Oak Creek Canyon estates area above Picacho and East Mountain Drive, this mid-century Spanish home has history, grounds, views, an amazing guest house, pool and more. This was our lotto house and our best wishes to the brilliant buyer who saw the lifestyle and charm this home offered.

788 San Ysidro Lane – $21,500,000

This home continues to impress, finding a new buyer within days of being on the market at any price range. It has always sold… since the early 2000s when it was in the $4’s, then remodeled, and resold at $6,350,000 then added onto and sold at $12,600,000 then selling again months later for $13,250,000 and then who knows what happened or was done to the home, but it sold again this year for $21,500,000 off market. A magical lot just a few doors down from the San Ysidro Ranch, offering style, grace and privacy. 

700 Picacho Lane – $60,000,000

The highest priced sale in Montecito for the year once again goes to an estate on prestigious, Picacho Lane.  With 3.41 acres in a prime Picacho location, private, gated, in the Montecito Union School District and with a celeb pedigree, this home has had no trouble selling over and over these past few years.