Six-Acre Compound in Santa Barbara’s East Valley Road Sells for $47.59 Million

A nearly six-acre Montecito estate with five bedrooms and seven bathrooms recently sold for $47.59 million.

Located at 1545 East Valley Road in Montecito, the 9,477-square-foot residence sits on a 5.92-acre lot.

The property sold on October 10, 2025, for $47.59 million. According to Redfin’s Santa Barbara data, the property’s estimated value is $15.2 million.

Set on nearly six acres in Montecito, the home was built in 1903 and renovated in 1970. Designated as Lot 4 on Pueblo Map 31A, it is zoned 5-E-1 for residential estate use and includes a pool, a four-car garage and a single main building on the expansive 257,875-square-foot parcel.

Santa Barbara Housing Market Trends

According to Redfin, Santa Barbara’s housing market cooled in September 2025, with home prices falling 17.4% from the previous year to a median of $2.1 million. Homes are selling a bit faster, averaging 46 days on the market versus 49 last year, with 43 properties sold during the month.

From June to August 2025, 62% of homebuyers in Santa Barbara explored options beyond the city, while 38% stayed focused on local listings.

Nationally, 0.31% of homebuyers searched for homes in Santa Barbara, with the highest share of interest coming from Los Angeles, then Washington and New York.

Where are People from Santa Barbara Moving to?

About 38% of homebuyers in Santa Barbara searched for homes within the metro area, while the most popular out-of-area destinations were San Francisco, San Luis Obispo, and Sacramento.

In August 2025, Santa Barbara’s median listing price reached $3 million, up 2.5% from the previous year, while the median sold price stood at $2.2 million. The average listing price per square foot was approximately $1,300.

Although parts of Southern California have seen recent price declines, Santa Barbara’s market continues to trend upward, according to Realtor data.

Market data from 2025 indicates that property values in Santa Barbara are on the rise, with the luxury sector showing the most significant growth due to sustained buyer interest and tight inventory levels.

The luxury housing market continues to thrive, especially in Montecito and Hope Ranch, two of the most coveted enclaves globally. New upscale communities like the Santa Barbara Polo Residences are emerging to meet strong demand, while the area’s celebrity residents, including Oprah Winfrey and Prince Harry and Meghan Markle, further enhance its prestige.