Lavish Six-Bedroom Mediterranean Estate in Montecito Sells for $12.25 Million

A luxurious Mediterranean six-bedroom estate in Montecito sold for $12.25 million, according to a listing on Redfin.

Encompassing 7,864 sq. ft. on 869 Knollwood Drive, the property closed on March 3, 2026, adding to a series of high-value home sales in the upscale coastal enclave near Santa Barbara. 

The sale price suggests the property was sold for $1,558 per sq. ft. 

The estate, known as II Ponticello, is privately positioned on Knollwood Drive, a gated approach leading to an arched entryway. 

The single-family home sits on a 1.91-acre lot and includes 6.5 bathrooms, according to the listing. 

The main level of the residence features a formal living and dining area, along with an open kitchen and family room. The main level also houses the primary suite, a guest bedroom, and a library. 

The kitchen is equipped with appliances such as a refrigerator, an electric range, a dishwasher, a dryer, a water purifier, and a washer. 

The upper floor features three ensuite bedrooms, including a private suite with a viewing balcony. 

In addition to the main residence, the estate includes two two-car garages as well as a guest apartment, reflecting the scale and amenities associated with high-value residential properties in the area. 

The estate is surrounded by grounds, filled with mature oaks, vast lawns, and layered gardens. 

Originally built in 2001, the property was listed on February 2, 2026, for the same price at which it was sold. There were no records of the property being listed or sold previously. 

The property was listed by The Kogevinas Group and Berkshire Hathaway HomeServices California Properties. While the buyer and seller details were not available, the property was bought with Riskin Partners Group and Village Properties, according to the listing. 

The Knollwood Drive neighborhood is considered a balanced market, according to Redfin’s estimates, with a proportionate share of buyers and sellers. The median sale price of residences in this area is around $5.5 million. 

While the sale-to-list price in the area has increased slightly, fewer homes were sold recently, according to Redfin. 

Similar Listings in the Region

Montecito is home to several luxury homes and high-value transactions are common in this region. The area’s proximity to the Pacific Ocean, large estate parcels offering seclusion and privacy, and its reputation as one of the most exclusive residential communities in Santa Barbara County. 

In February 2025, a luxury, mid-century, three-bedroom home in Montecito’s Inverness Lane sold for $9.99 million. Located in the gated Birnam Wood community, the property was designed by architect Robert Garland. 

In January 2026, a ranch-style residence in Montecito sold for $8.46 million. Located at the Golden Quadrangle, the residence sits on a 1.02-acre lot and spans 4,211 sq. ft.