Fireplace, ICE, COVID; Harry and Meghan, Oprah, Gwyneth: These are some however actually not the entire elements driving Montecito actual property into the stratosphere.
The post-pandemic inflow of celebrities and royals, in addition to native restaurant openings that look extra like crimson carpet occasions, have catapulted the small, unincorporated city of fewer than 10,000 folks into the true property stratosphere, whereas a lot of Southern California stagnates. By means of the top of Could, closed gross sales are up 31 % in comparison with the identical interval in 2024, in accordance with Riskin Companions Property Group.
Much more staggering: Since 2019, the median value for a Montecito residence has elevated by 80 %, in accordance with Zillow. Take Meg Ryan’s 2-acre compound on Picacho Lane: Bought by Ryan in 2020 for a reported $5.4 million, the house is at the moment listed for $19.5 million.
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And whereas A-listers could also be bringing undesirable consideration to the once-quiet city, most assimilate to the overriding Montecito aesthetic: extra beekeeping, much less bling. Designers like Meredith Nonetheless and Kari Ivanitsky of The Meredith Mission routinely work with owners seeking to seize the realm’s low-key, high-end look: “Montecito could also be relaxed, however it’s by no means careless. Behind the informal linen slipcovers and open shelving is a rigorous consideration to element,” says Nonetheless, who recounts latest tasks that embody the whole lot from constructing nonworking marble fireplaces to walk-in refrigerated pantries. “Right here houses are like a Nancy Meyers film, however in actual life.”
For Josiah Hamilton, an area resident and actual property agent, the true draw to the enclave is much less celeb and extra topography: “Santa Barbara is the longest stretch of south-facing shoreline till you get to Alaska. Meaning the solar rises on the left aspect and units on proper. That could be a outstanding factor.”
This story appeared within the June 18 challenge of The Hollywood Reporter journal. Click here to subscribe.