July may be the hottest month this summer for luxury home sales in Orange County, based on figures from online real estate aggregator Redfin.
New industry data show that 24 home transactions closed last month at more than $4 million each, generating $160 million. Four multimillion-dollar sales took place in the last week of July alone, including the second highest-priced transaction of the past three months: $12.75 million for a contemporary home in Ritz Cove in Dana Point.
The figures easily bested the $112.3 million netted in the sales of 15 luxury homes in June. May reached 16 luxury home sales, producing $124.4 million.
August sales figures won’t be tallied until the end of the month, though potential buyers have plenty to choose from among 391 luxury homes currently listed in Orange County.
Old-World Charm
The 12,000-square-foot home at 6 Skycrest in Newport Coast, nestled behind iron gates on an oversized 0.61-acre lot, is an example of European elegance. The five-bedroom, eight-bath home, which boasts views of the ocean and the mountains, sold on July 20 for $13.8 million. The list price in February was $16.5 million.
The main floor features a wood-paneled library with wet bar and a great room with distressed walnut floors, imported antique fireplace, and ocean views that are shared with the adjoining formal living room. The entertainment level features a theater complete with a 12-foot screen, a game room, a bar with an adjacent outdoor courtyard, and a fully mirrored gym.
Rex McKown and Marcy Weinstein of Surterre Properties Inc. represented the seller, and Lisa Zhou of Coldwell Banker Platinum Properties represented the buyer.
Impressive Ridgeline Lot
The 11.7-acre estate at 29441 Monarch Drive in San Juan Capistrano is elevated on a ridgeline atop the 25th largest residential lot in Orange County, bordering areas of untouched open space.
The 6,755-square-foot home sold on July 21 for $6.5 million, meeting its June list price.
The single-level, Mediterranean-inspired custom estate, with four bedrooms and six baths, was built to highlight mountain, city lights, lake and ocean views.
It features a 1,000-foot driveway, gated entry, manicured grounds, 400 grape vines, 160 avocado trees, citrus trees, a saltwater pool, pool house, six-car garage, 48 solar panels, wine cellar, round pen, riding arena, stables and direct trail access.
Floor-to-ceiling glass walls, gabled roofs, distressed wood floors and stone surfaces evoke a casual elegance.
Tracey Fullenkamp of First Team Estates was the seller’s agent, and Kevin Sanchez of Harcourts Prime Properties was the buyer’s representative.
The Gold Standard
The bayfront home at 38 Linda Isle in Newport Beach delivers unobstructed vistas of Newport Harbor’s main turning basin and all of the harbor’s activities, from sailing to crew workouts. The 5,421-square-foot home sold on July 19 for $10.5 million. Its May list price was $11 million.
The four-bedroom, six-bath home, situated on a 5,700-square-foot lot on what locals refer to as Linda Isle’s “Gold Coast,” features custom paneling and moldings, six fireplaces, an elevator, a large living room, an elegant bar, a family room with built-in bookshelves, a formal dining room, and a den.
The home has 50 feet of waterfront with one of the largest deep-water private docks in the harbor, which can accommodate a boat up to 81 feet and several side-ties.
The transaction was represented on the seller’s side by Steve High of Villa Real Estate and by Rod Daley of Coldwell Banker Residential Brokerage on the buyer’s.
