and have said they intend to keep their Montecito mansion as they prepare to move their family back to Britain. However, speculation is growing in California’s luxury real estate market that the couple could eventually sell the property.
A source in the Santa Barbara luxury property market told the there have “been rumblings” about a possible sale, adding that interest among brokers would be intense if the estate enters the market.
The potential sale could also be influenced by the substantial cost of maintaining the property. The New York Post reported that the former royal couple spends more than $600,000 a year on mortgage payments and property taxes alone.
Could the Montecito home be sold privately?
Jason Streatfeild, a Douglas Elliman broker representing the Santa Barbara and Montecito area, told the New York Post that properties in this price range do not always appear on the open market.
According to Streatfeild, ultra-luxury homes can be offered privately to prospective buyers under non-disclosure agreements, with details remaining confidential until the transaction is officially recorded.
“It’s very possible that they would be listing it, but I have a strong feeling that it’s already being discussed and shown,” Streatfeild told the publication.
His comments do not confirm that Harry and Meghan have listed the property.
Harry and Meghan prepare for UK return
The Duke and Duchess of Sussex are moving to the UK this month with Prince Archie, 7, and Princess Lilibet, 5, ending their six-year stay in California after stepping back from royal duties in 2020.
Their children are expected to begin school in Britain in September, while Harry and Meghan plan to establish a new private residence there. The location of their new home has not been disclosed.
King Charles was reportedly informed about the family’s move over the weekend. Harry and Meghan have said they intend to retain both their Montecito estate and their holiday property in Portugal.
What the property costs
Santa Barbara County records cited by the New York Post show that the Sussexes’ company, Rockbridge LLC, purchased the 7.38-acre estate for $14.65 million on June 9, 2020.
Three days later, the company took out a $9.52 million adjustable-rate loan from City National Bank. The loan began at 2.49 per cent and can rise to 7.49 per cent when it resets in July 2030.
The New York Post calculated that the mortgage costs between $40,000 and $43,000 a month on a standard 30-year term, amounting to more than $480,000 annually before taxes, insurance and maintenance.
The property’s 2025 tax bill was $149,668, based on an assessed value of $14.38 million. County records cited by the publication show property taxes rising from $138,629 in 2021-22 to the current figure.
Including insurance, landscaping, maintenance and security, the New York Post estimated that the annual fixed cost of owning the estate could exceed $650,000.
Could Harry and Meghan make a huge profit?
Streatfeild described the property as an 18,000-square-foot, nine-bedroom, 17-bathroom estate with ocean views, a pool and tennis court.
He estimated that it could potentially be listed for around $75 million and sell for between $55 million and $65 million, citing several recent Montecito sales above $50 million.
The property had reportedly been listed for five years before Harry and Meghan bought it, with an original asking price of $34.5 million in 2015.
For now, the couple have said they plan to keep the Montecito estate. There is no confirmed public listing showing that the property is currently for sale. However, comments from the local real estate market have fuelled speculation about whether the California mansion could eventually be sold as the family establishes its life in Britain.
