Inherited Wealth and the Luxury Market
More and more, wealthy parents are deciding to transfer wealth to their children during their lifetime to watch the children enjoy their inheritance, among other financial and lifestyle benefits. Across Montecito and all luxury markets, Baby Boomers are transferring wealth to their families in unprecedented quantities reshaping how and why people are buying.
With a staggering $84 trillion in wealth set to transfer from Baby Boomers and the Silent Generation to younger generations by 2045, buyers are purchasing their first or second homes with inherited funds or direct support from family. In some cases, parents are buying outright for their adult children — seeing real estate not just as a home, but as a strategic, long-term way to transfer wealth.
Gen X is now leading the charge – they made up 24% of U.S. homebuyers in 2024 and are expected to inherit $30 trillion, putting them in a strong position to act decisively. They are drawn to the kind of quality and ease found in Montecito, choosing move-in-ready homes over renovation projects.
And while the Montecito market continues to evolve, one thing hasn’t changed — well designed and located properties in communities that offer both beauty and quality of life are in the highest demand for buyers across all generations.
What Happened in Montecito Last Week?
March 23rd – March 29th
2 New Listings
5 Closed Sales
5 Pending Sales
weekly spotlight
Spring in Santa Barbara
Let the fresh spring air be your guide in Santa Barbara this April. From Earth Day celebrations to unforgettable cultural experiences, there’s something for everyone. Here’s a look at what’s happening:
🌎 Earth Day 2025
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Santa Barbara Earth Day Festival (April 19-20) – One of the West Coast’s largest Earth Day celebrations with climate leaders, art, music, and eco-conscious exhibitors.
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Earth Day at the Zoo – Learn about climate change and conservation efforts at the Santa Barbara Zoo.
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Lotusland Picnics & Live Music – Experience nature’s beauty with live music and serene picnics in the gardens.
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Beach Cleanup Efforts – Join organized cleanups or make a personal effort to keep Santa Barbara’s beaches pristine.
🎶 Spring Arts, Culture & Events
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Santa Barbara Bowl Concerts – Kick off the season with The Avett Brothers (April 11) and more acts throughout the month.
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Granada Theatre Performances – Highlights include Chineke! Orchestra (April 3) and The Rock Orchestra by Candlelight (April 6).
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Lobero Theatre Shows – Catch The Derek Douget Band (April 5) and pianist Yefim Bronfman (April 9).
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Arlington Theatre Events – Dancing with the Stars: Live! (April 30).
🍽️ Santa Barbara Restaurant Week
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April 25 – May 4 – Savor unique prix fixe menus at participating restaurants, showcasing Santa Barbara’s culinary creativity.
🎡 Santa Barbara Fair & Expo
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April 24-27 & May 2-4 at Earl Warren Showgrounds – Carnival rides, live music, games, farm animals, and indulgent fair food.
🍷 Natural Coast Wine Festival
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April 26 – Celebrate sustainable winemaking and taste exceptional wines from Central Coast producers dedicated to eco-friendly practices.
Santa Barbara in April is all about celebrating the beauty of our planet, indulging in world-class entertainment, and savoring unforgettable dining experiences. See you there!
