Here and there I am proposed various questions from clients about the luxury market here in Montecito CA., such as where are the most famous homes located and/or what is the most expensive home to sell this year or any year for that matter. Many times though it is as “simple” as what is the true definition of luxury real estate here in the Montecito area. The answer is that there is no exact definition of luxury real estate and this varies greatly depending on the circumstances, whom you talk to, location in our town etc. But in order to provide some statistics, I am going to break it down with price being the simple parameter. When speaking about Montecito, the luxury market is generally referred to as anything above $5 Million.
– Thus for our purposes here, I am going to refer to the luxury market here in Montecito as any sale over the $5 million mark.
During the first 8 months of 2009, there were a total of 16 closed sales of luxury single family homes here in the Montecito area. As of Sept 15th, 2009, there was only 1 property in this luxury market that was pending sale (under contract).
The highest sale within this luxury market was a majestic French Country estate located on 7 plus acres of stunning grounds, including 2 guest homes, the highest quality craftsmanship, lofty beamed ceilings, a gourmet kitchen, a pool, and much more. The property was located on Rockbridge Road, Montecito CA., 93108 and sold for $25,279,000.
The 15 other sales of luxury property in Montecito so far this year were:
- 815 Cima del Mundo, Montecito CA., 93108, sold for $18,500,000. Newly constructed luxury estate located on roughly five acres, Don Nulty design, 12000+ sqft with huge ocean, harbor, mountain views, a pool, a pool cabana, a tennis court as well as a two bedroom guest house. An amazing estate property.
- 2549 Sycamore Canyon Road, Montecito CA., 93108, sold for $15,310,000. The majestic ”Val Verde” Estate located on roughly 17.4 acres. Gorgeous main residence with 2 guest homes, stunning lush grounds with reflecting pond, a seasonal creek, a pool, fountains and spectacular gardens.
- 1127 Hill Road, Montecito CA., 93108, sold for $11,000,000. Close to Butterfly Beach, this tropical style beach estate includes a newly completed main residence with good ocean & island views, a charming guest home and a pool with a pool house. Wonderful architectural elements throughout the home. Open floor plan that is great for entertaining with a gourmet kitchen as well as floor to ceiling sliding doors in the living area that bring the outdoors inside.
- 1144 East Mountain Drive, Montecito CA., 93108, sold for $9,560,000. Circa 1939 Edwards & Plunkett Monterey Colonial estate located on approximately 5.28 lush acres. A beautiful gated estate with incredible architectural elements, a spacious main home including 5 suites, a spectacular 3 bedroom guest home, a charming art studio, as well as a large 9-car garage. Spectacular grounds with ocean views, a tennis court, a pool, a spa, a brick courtyard, pergolas, rose gardens, putting greens and much more.
- 269 Las Entradas Drive, Montecito CA., 93108, sold for $9,000,000. A truly romantic residence located on a promontory knoll with over 2 acres of mature landscaping with a pool and a guest home. Wrap-around panoramic ocean, harbor and mountain views from the main residence. Newly remodeled with formal living and dining areas, a library, a spacious kitchen/family room all opening to view loggias, terraces and lush gardens.
- 1631 Posilipo Lane, Montecito CA., 93108, sold for $8,300,000. Truly On the Sand! A terrific beach location, this home sits on approximately .5 acres with 75′ of sand frontage. A true ‘best buy’, this property offers a fantastic opportunity to live in Montecito on the ocean.
- 798 Park Hill Lane, Montecito CA., 93108, sold for $8,200,000. ‘Villa Nova’ is a classical Tuscan estate of timeless design and elegance nestled high in the foothills of Montecito. This private residence with approximately 1.43 acres enjoys good ocean, island and mountain views in a prestigious location. Exquisite house with a guest casita and a pool.
- 735 Fuera Lane, Montecito CA., 93108, sold for $7,600,000. Architecturally historic 1920′s French Provincial estate lovingly remodeled blending modern amenities with charm of the past. This home is set in the foothills of Montecito on roughly 1.2 magical acres. Specimen gardens, a pool, 2 additional structures, a guest home, a cabana and more.
- 1525 Las Tunas Road, Montecito CA., 93108, sold for $7,150,000. This exquisite French Country home is located on approximately 1.39 acres and has been expanded and lovingly remodeled to include a grand living room, a large master suite, a media/game room, a gourmet Provence farmhouse kitchen/family room and much more. Seasonal stream meanders past a stone terraced swimming pool with spa and rose gardens.
- 616 Juan Crespi Lane, Montecito CA., 93108, sold for $6,988,000. A romantic single story Craftsman home located on just over 1 acre. A large 6 bedroom, 8 bath residence with a pool, a spa, fruit trees and much more.
- 1340 East Mountain Drive, Montecito CA., 93108, sold for $6,700,000. A Mediterranean estate set on a magnificent 2.5+/- acres with mature oaks. Beautiful ocean and mountain views with privacy. Four bedrooms, four and one-half bathrooms, three fireplaces, a pool, a three car garage, a motor court and more.
- 777 Ayala Lane, Montecito CA., 93108, sold for $5,975,000. Romantic, historic restored George Washington Smith estate located on roughly 1.56 lushly landscaped acres. The main home features 4 bedrooms, a grand living room, a dining room and a garden loggia. Original tile floors with soaring ceilings, intimate outdoor terraces and colorful gardens. A 2 bedroom guest quarters, a pool, a spa, a tennis court, a lath house and a charming restored guest studio.
- 330 Malaga Drive, Montecito CA., 93108, sold for $5,550,000. Outstanding Spanish Revival estate privately situated on roughly 1.5 stunning acres with captivating mountain views! The main residence features sun drenched living spaces, a grand living room, a formal dining area, a fabulous kitchen, a family/media room, lofty ceilings and much more. Large guest house, a pool, a spa, gardens, lush vegetation with mature oaks.
- 566 Picacho Lane, Montecito CA., 93108, sold for $5,450,000. A stunning estate located on the prestigious Picacho Lane. This home has been completely remodeled and consists of three bedrooms and four and a half baths with a sitting room in the master suite. The estate also includes a swimming pool and an attached three car garage.
- 28 Hammond Drive, Montecito CA., 93108, sold for $5,300,000. A Beautifully appointed and elegant two story home in Sea Meadow with delightful Cape Cod design elements throughout. Rich walnut floors, expertly crafted wood ceilings and abundant French doors and windows to garden views and terraces accent the wonderful and bright floor plan. The guarded & gatd Sea Meadow enclave features a clubhouse, pool, spa & tennis.
If you would like further information and or pictures of any of these homes, please feel free to contact me.
Overall, the luxury market here in Montecito this year has been slower in comparison to the first 8 months of the previous few years. Prices overall have also taken a pretty sizable hit in the last 12 months with much of this market dropping 25-40% from its peak. Below you can also view the luxury sales in Santa Barbara proper, Hope Ranch and Carpinteria.
If you would like a more complete update on any of these properties or any part of our Luxury Market and/or any other areas within Santa Barbara, Montecito, Carpinteria, Goleta, Hope Ranch, Summerland, and/or The Santa Ynez Valley, please feel free to contact me.
- Hope Ranch Luxury Real Estate Sales – Statistics 2009
- Carpinteria Luxury Real Estate Sales – Statistics 2009
- Santa Barbara Luxury Real Estate Sales – Statistics 2009
- Montecito Luxury Real Estate
- The Oceanfront Area – General Description and Information
- Santa Barbara Photo Tour
For information on Real Estate here in Santa Barbara, Montecito and/or our surrounding areas, as well as any other aspects of life in our area, please don’t hesitate to contact Kevin Schmidtchen at Sotheby’s Int’l Realty.
Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.
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