Money Talks - Wealth Whispers
Luxury is staying the course — that was the message from around our company last week when we met with our colleagues in the Luxury Division of BHHS. The Los Angeles market continues to suffer from the Palisades fires and Mansion tax, but other markets, and especially in Montecito and Santa Barbara, luxury properties are squarely in the eye of affluent buyers.
So far this year, 39 properties over $10M have sold across Montecito and Santa Barbara — that’s 39% higher than this time last year (28 $10M+ sales) and 21% higher than 2023 (32 $10M+ sales).
According to Robb Report, Montecito recently ranked #6 among the Top 50 Most Expensive Zip Codes in the Nation, with a median home price around $5.24M. But the real story isn’t just about price, it’s about value. In Montecito, both the homes and the lifestyle appreciate over time. Morning walks on Butterfly Beach, coffee in the Upper Village, and golden-hour skies that still stop you in your tracks, this is the kind of investment that pays you back daily.
At the pace we’re seeing, 2025 could shape up to be a record-breaking year for Montecito luxury. But don’t get me wrong, not everything is selling or flying out the door at any price. Buyers have choices, need a reason to move and price influences desire.
What Happened in Montecito Last Week?
October 12th – October 18th
architect spotlight
James Hyatt
Known locally for leading the master planning and garden design at San Ysidro Ranch, James Hyatt brings a sculptural, naturalistic approach to landscape design.
James Hyatt's hospitality portfolio includes The Peninsula Beverly Hills (involved since the hotel’s original construction), The Umstead Hotel & Spa in North Carolina, Four Seasons Hualalai on the Big Island, Four Seasons Maui at Wailea, and Four Seasons Resort The Biltmore in Santa Barbara.
Across these properties, Hyatt’s work emphasizes harmony between architecture and environment through layered textures, native plantings, and choreographed movement. At 3595 Padaro Beach, he translated the ocean’s cadence into terraces and paths that feel organic, elegant, and distinctly Californian.
