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2720 Montecito Ranch Place, Summerland, CA 93067, Summerland, 93067 - 4 bed, 7 bath

2720 Montecito Ranch Place, Summerland, CA 93067 home-pic-0
ACTIVE$22,950,000$6,157/sqft
Est. Value: $22,950,000
%
FairlyEstimate
2720 Montecito Ranch Place, Summerland, CA 93067
4Beds
7Baths
6,157Sqft
251,777Lot

Price Vs. Estimate

The estimated value ($22,950,000) is $0 (0%) lower than the list price ($22,950,000). This property may be overpriced.

Key pros and cons

Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 251777, living area = 6157.
Top Cons:
Ultra-Luxury Price Point: The listing price of $22.95 million positions this property in an extremely exclusive market segment, significantly limiting the pool of potential buyers.

Compared to the nearby listings

Price:$22.95M vs avg $2.52M (+$20,431,386.5)83%
Size:6,157 sqft vs avg 1,562.5 sqft83%
Price/sqft:$3.7K vs avg $1.6K83%

More Insights

Built in 2019 (7 years old).
Condition: Built in 2019, this property is virtually new. The kitchen features dual islands, high-end integrated appliances, and modern finishes. Bathrooms are spa-like with freestanding tubs, glass-enclosed showers, and contemporary vanities. All components, including flooring, lighting, and systems, are new and meet current luxury standards, showing no signs of wear or deferred maintenance.
Year Built
2019
Close
-
List price
$22.95M
Original List price
-
Price/Sqft
$3,727
HOA
$4,707
Days on market
-
Sold On
-
MLS number
25547749
Home ConditionExcellent
Features
Excellent View:
Pool
Spa
Patio
View-

About this home

Welcome to Montecito Ranch Estates! Nestled in an exclusive gated hamlet, this peaceful coastal escape blends huge ocean/mtn views, refined interiors, effortless indoor-outdoor living and a coveted knolltop location. The single-level home features floor-to-ceiling doors, dual kitchen islands and light-filled living spaces. A spacious primary suite offers garden access, a spa-like bath and an epic closet. Outside, lush gardens, multiple patios, a pool and cabana create a resort-style setting. Designed with privacy and security in mind, and located outside the high-fire zone, from here you are 7 minutes from Montecito's Lower Village, Lucky's and the Coral Casino. This rare combination of luxe construction, breathtaking views and a coveted location, is the trifecta you've been waiting for.

R
Robert Riskin
Listing Agent

Price History

Date
Event
Price
12/24/19
Sold
$8,350,000
Condition Rating
Excellent
Built in 2019, this property is virtually new. The kitchen features dual islands, high-end integrated appliances, and modern finishes. Bathrooms are spa-like with freestanding tubs, glass-enclosed showers, and contemporary vanities. All components, including flooring, lighting, and systems, are new and meet current luxury standards, showing no signs of wear or deferred maintenance.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 251777, living area = 6157.
Exclusive Location & Community: Nestled in the prestigious Montecito Ranch Estates, this gated, knolltop property offers unparalleled privacy, security, and convenient access to Montecito's elite amenities.
Panoramic Ocean & Mountain Views: The property boasts expansive, breathtaking views of both the Pacific Ocean and surrounding mountains, providing a stunning backdrop for daily living.
Luxurious Modern Construction: Built in 2019, the single-level home features refined interiors, floor-to-ceiling doors, dual kitchen islands, and light-filled spaces, embodying contemporary luxury.
Resort-Style Outdoor Living: Extensive outdoor amenities including lush gardens, multiple patios, a private pool, and cabana create an exceptional resort-like environment for relaxation and entertaining.
Enhanced Safety & Privacy: Designed with privacy and security as priorities, the property is also advantageously located outside the high-fire zone, offering peace of mind.

Cons

Ultra-Luxury Price Point: The listing price of $22.95 million positions this property in an extremely exclusive market segment, significantly limiting the pool of potential buyers.
Substantial Association Fees: The association fee of $4,707 (likely annual) represents a notable ongoing cost that potential buyers will need to factor into their budget.
High Premium Over Previous Sale: The current listing price reflects a substantial increase from its 2019 sale price of $8.35 million, which may lead to buyer scrutiny regarding current market value and potential for future appreciation.
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