Montecito Market Report | Q1 2025

Q1

MONTECITO MARKET REPORT

BOSQUE

MONTECITO Real Estate and Style

Interior Design by Clint Nicholas Photography by Sam Frost

VILLA Cascina

Representation by Eric Haskell & Amanda Lee List Price of $33.5M VIEW LISTING

CONTENTS The Market 7 Q1 2025 Market Data 8 Market Highlights 10 Q1 Sales Breakdown 12 Sales Breakdown By Year 14 Ultra Luxury Market 18

Photography byAndrew Bramasco

937 CIMA LINDA Lane Representation by Turpin Muller Group List Price of $23.5M VIEW LISTING

Photography by Blake Bronstad

The MARKET Q1 2025 marked a powerful start to the year for Montecito real estate, with both sales volume and transaction activity showing notable gains. Total sales volume reached $388.6 million, representing an 88% increase over Q4 2024, while the number of transactions climbed to 52 closings, up nearly 53% quarter-over-quarter. The average sales price rose to $7.4M, a 19% jump from the previous quarter, signaling renewed strength across highvalue price points.

The $20M+ ultra-luxury market continues to outperform, with five sales over $20 million closing in Q1 alone, including a $30M transaction on Mariposa Lane. This follows an already impressive 2024, when 11 such sales marked a sharp rise from just three the year prior. This consistent strength in the upper echelon of the market underscores Montecito’s enduring appeal among high-networth buyers seeking privacy, coastal beauty, and investment-grade properties.

At a broader level, national housing trends reveal a shift toward a buyer’s market, with growing inventory and rising seller concessions. Yet, Montecito appears insulated from this dynamic,

continuing to see strong demand, particularly in the luxury segment, where quality inventory remains limited and well-positioned homes are commanding premium prices.

Beyond market metrics, Montecito continues to evolve as a lifestyle destination. Landmark developments such as The Post by Lower Village and Rosewood Miramar’s upcoming expansion are reshaping the local commercial landscape, while elevated offerings on Coast Village Road continue to enhance the area’s dining and cultural vibrancy. Meanwhile, demand for rental properties remains strong, with many high-end homes being leased by buyers waiting for the right purchase or those relocating from regions affected by recent disruptions.

With the momentum of Q1, Montecito enters the second quarter with confidence. Elevated buyer activity, rising prices, and continued sales in the ultra-luxury tier suggest a market that remains resilient, dynamic, and in high demand—even as national headwinds shape broader real estate conversations.

7

MONTECITO MARKET INSIGHT Q1 2025 (JANUARY 1 - MARCH 31)

8

$388,643,583

$7.4M

TOTA L SA LE S VOLUME I N Q1 UP 8 8 .2 7 % F ROM Q4 20 24

AVE RAG E SALE S PRICE IN Q1 U P 19.35% FROM Q4 2 024

52

93

TOTA L T R A N SAC TI ONS I N Q1 UP 5 2 .9 4 % F ROM Q4 20 24

AVE RAG E DAYS ON MARKE T IN Q 1 U P 3% FROM Q4 2024

QUARTERLY BREAKDOWN Q1

2025

Q4

2024

Q3

2024

Q2

2024

$388M+ IN SALES VOLUME | 52 TRANSACTIONS

$206M+ IN SALES VOLUME | 34 TRANSACTIONS

$293M+ IN SALES VOLUME | 39 TRANSACTIONS

$366M+ IN SALES VOLUME | 45 TRANSACTIONS

9

Q1

MARKET HIGHLIGHTS 36% I N C R E AS E I N T H E TOTA L N U M B E R O F SA L E S AC RO S S A L L P R I C E P O I N TS I N Q 1 2 0 2 5 C O M PA R E D TO Q 1 2 0 2 4

30% I N C R E AS E I N T H E TOTA L D O L L A R SA L E S VOLU M E AC R O S S A L L P R I C E P O I N TS I N Q 1 2 0 25 C O M PA R E D TO Q 1 2 0 2 4

4% D E C R E AS E I N T H E AV E R AG E SA L E S P R I C E I N Q 1 20 2 5 C O M PA R E D TO Q 1 2 0 2 4

10

Photography by Jim Bartsch

Ca Di SOPRA

Representation by Olesya & John Thyne List Price of $44.5M VIEW LISTING

11

Q1

SALES BREAKDOWN

By Price Point

THE DATA SHOWN ILLUSTRATES THE TOTAL SALES QUANTITY FOR A RANGE OF PRICE TIERS WITHIN THE MONTECITO REAL ESTATE MARKET DURING Q1 2025

22

# O F SALE S IN Q1 2 025

21

4

4 1

$1-5M

12

$5-10M

$10-20M

$20-30M

$30M+

RARE OCEANFRONT OPPORTUNITY Representation by Ryan Lowe List Price of $15.45M VIEW LISTING

13

TOTAL MONTECITO SALES

By Price Point and Year

THE DATA SHOWN ILLUSTRATES THE TOTAL SALES QUANTITY FOR A RANGE OF PRICE TIERS WITHIN THE MONTECITO REAL ESTATE MARKET DURING 2022-2 024

62

20 22

14

59

20 23

$10-20M 59

20 24

# OF SALE S

# OF SALE S

$5-10M

23

24

23

2 022

2 023

2 024

5 20 22

2 20 23

$30M+

4 20 24

# OF SALE S

# OF SALE S

$20-30M

4 2 022

7 1 2 023

2024

15

$2 0M+ Montecito’s

ULTRA $20M+ ULTRA LUXURY LUXURY MARKET MARKET

Interior Design by Clements Design Photography by William Abranowicz

12

11 9

5 2020

5

3 2021

2022

2023

2024

# OF SALE S

$20M+ ULTRA LUXURY MARKET 18

TOTAL $20M+ SALES

Q1 ‘25

In 2024, Montecito’s ultra-luxury market saw significant growth, with 11 sales exceeding $20 million—up from just three in 2023. Highlighting this trend was the record-setting $96 million sale at 2781 Padaro Lane, reflecting strong demand for premier properties. That momentum has continued into 2025, with five $20M+ sales recorded in Q1 alone, signaling enduring strength in the ultra high-end segment. This surge underscores Montecito’s appeal as a top destination for luxury living.

Interior Design by Clint Nicholas Photography by Sam Frost

$20M+ SALES Q1 2025

$30,000,000 9 5 6 M A R I P O S A L A N E $22,000,000 1 6 0 3 P O S I L I P O L A N E $21,500,000 7 8 8 S A N Y S I D R O L A N E $21,000,000 1 1 7 4 G L E N V I E W R O A D $20,000,000 1 7 5 T I B U R O N B AY L A N E

19

Ryan Lowe Bosque Real Estate, The Agency DRE 02119380 805.729.5917 Inquire@bosqueagency.com All information provided in this report is based on data sourced from the Santa Barbara MLS and is subject to potential inaccuracies. While every effort has been made to ensure the accuracy of the data, it is not guaranteed and should be independently verified. Additionally, we strive to ensure that all images and media used in this report are shared with proper permissions and credit to the rightful owners. However, we do not claim explicit knowledge of ownership for every photo or media used. If any content has been used without appropriate permission or credit, please contact us, and we will promptly provide proper attribution or remove the content as needed.