Montecito Luxury Estate Lists for $12 Million After Value More Than Doubles Since 2012

The luxury real estate market in Montecito continues to show momentum as a sprawling estate on San Ysidro Lane hit the market for $12 million.

The property’s asking price has more than doubled since it last sold in 2012, according to a listing on Redfin. The home sold for $5 million in 2012, marking a whopping 140% jump over the past 14 years.

Designed by architect Jon Sorrell, the estate was built in the tradition of George Washington Smith’s iconic Spanish Colonial Revival style.

The property spans 4,665 square feet and sits on a 1.02-acre lot. The listing price is equivalent to $2,572 per square foot.

Built in 2009, the single-family home features three bedrooms and four bathrooms, according to the listing.

Blending signature California architecture with resort-style living, the home features barrel-vaulted ceilings, wood beams reclaimed from a historic Tennessee distillery, and custom steel windows and doors.

The pathway leading to the home has an olive tree-lined driveway.

Inside, a chef’s kitchen opens to a family room with a fireplace and direct access to the terraces, gardens, a pool, and spa. The kitchen includes appliances, such as a refrigerator, gas range, dishwasher, and a washer and dryer.

The house has two guest suites on the main level, which offer private accommodations, along with the primary suite on the upper level, according to the listing.

The primary suite includes two balconies, offering scenic views of the ocean and island, four sets of doors that open to the outdoors, and a private staircase that leads directly to the gardens.

The primary bath is fitted with a steam shower, a separate water closet, and a spacious custom walk-in closet with built-ins.

Additionally, a separate primary den offers dramatic views of the mountains, creating a space for relaxation.

The home includes a built-in office nook, a utility room with a sink, washer, and dryer, and dual-zone HVAC systems.

Along with the main residence, the property includes a detached guest casita with one bedroom and one bathroom. Offering privacy and seclusion from the main residence, the casita is surrounded by a garden and has parquet floors and several private patio spaces.

Designed by noted landscape architect Isabelle Greene, the estate’s grounds are ideal places for entertaining and hosting intimate gatherings.

The gardens have multiple seating areas, garden retreats, an outdoor fireplace, and outdoor dining spaces.

Filled with a curated collection of mature trees, the gardens feature native Matilija poppies, apple trees, fig trees, lemon and lime trees, plum trees, and persimmon trees.

The residence includes a detached two-car garage.

The property was listed by Berkshire Hathaway HomeServices California Properties.

The listing on San Ysidro Lane is among several high-end Montecito homes to hit the market in the past few weeks, underscoring the market’s consistent demand for luxury estates.

Earlier this month, a sprawling historic garden estate in the prestigious Upper Village area was listed for $18.5 million.

In April, a home that was once owned by acclaimed architect A. Eugene Kohn in the Birnam Wood community hit the market with a $11.85 million price tag.