Meg Ryan's Former Montecito Home Sells For $18 Million

A Montecito mansion formerly owned by actress Meg Ryan has sold for $18 million, according to Realtor.com. This sale comes just four months after the property was put back on the market by its current owners.

Ryan originally purchased the Picacho Lane estate for $9.5 million in August 2021. She then spent several years expanding the 6,500-square-foot home by 3,000 square feet and adding features like new bedrooms, a half-bathroom, and three fireplaces. The actress, known for her love of renovation projects, told Architectural Digest that she enjoys the control it gives her, a contrast to the acting life.

She first listed the renovated home for $22.5 million in February 2025, eventually selling it for $16.8 million in June 2025 after several price reductions. The buyer then relisted the property for $21.9 million just two months later, though it was removed from the market in January of this year before returning in June.

The newly sold property features ocean and mountain views, a private driveway, an expansive living area, a formal dining room, and a chef's kitchen with state-of-the-art appliances. Its location means new owners will be neighbors with notable figures such as Prince Harry, Meghan Markle, and Gwyneth Paltrow.

This property's journey through multiple owners and price changes highlights the dynamic nature of Montecito's luxury real estate market, especially when a celebrity is involved.