How did the Orange County luxury market do last year? That’s the question this bundle of data answers. It’s compiled from the California Regional Multiple Listing Service and other sources, and the year-over-year numbers give a simplified view of what happened at the top end of the marketplace.
It’s important to remember when evaluating the luxury home market that some data, such as sales price, can be influenced by any number of things. An estate that sells for an above-average $20 million in any given year, for example, will have an outsize effect on the median home sale price during that time period.
Here’s a breakdown by city of 2016 sales data:
Newport Beach
• The median home sale price fell 0.1% to $1.835 million
• The average home sale price rose 11% to $2.2 million
• Home sales rose 69% to 61 transactions
• Active listings rose 16.6% to 302
• The sales price/list price ratio fell 0.6% to 95.9%
• Average days on market fell 22.7% to 74
Laguna Beach
• The median sale home price fell 18.5% to $1.9 million
• The average home sale price dropped 38.5% to $2.1 million
• Home sales rose 73% to 26
• Active listings rose 1% to 206
• The sales price/list price ratio rose 0.4% to 94.8%
• Average days on market fell 42.2% to 88
Corona del Mar
• The median home sale price fell 17.6% to $2.4 million
• The average home sale price rose 15% to $3.5 million
• Home sales fell 15% to 11
• Active listings fell 21% to 69
• The sales price/list price ratio fell 0.6% from to 95%
• Average days on market fell 11% to 69
Highlights of home sales for 2016 include:
Masterpiece on Masters Circle
The seven-bedroom, eight-bath contemporary estate at 3 Masters Circle in Newport Coast sold on Dec. 6 for $13 million, under its August list price of $15 million.
It’s in the Pelican Hill neighborhood and offers views of Catalina Island, the Pacific, Palos Verdes and Newport Harbor. Its 11,908 square feet encompass amenities such as gourmet and catering kitchens, a subterranean garage, theater, wine room, game room with bar, master retreat with sitting area, and elevator accessing all three levels.
Rex McKown and Marcy Weinstein of Surterre Properties Inc. represented the seller, and John McMonigle of the McMonigle Group worked on behalf of the buyer.
Cover-Shot Worthy
The home at 126 Canyon Creek in Irvine sold on Nov. 22 for $8.1 million, falling short of its August list price of $8.5 million.
The custom European-influenced estate is perched on a .54-acre lot and offers canyon and hill views from the outdoor areas and covered loggias.
The interiors include six bedrooms and eight bathrooms, two of them half-baths, a theater, wine cellar, bonus room, bar, fitness center, large laundry room with hair salon, a guest living suite.
Jacqueline Thompson of Surterre Properties Inc. and Jason C Bradshaw of First Team Estates represented the seller and the buyer, respectively.
Lovely on Lido
The 4,091-square-foot California Contemporary-style home at 524 Via Lido Nord in Newport Beach sold on Dec. 15 for $8.6 million.
This Lido Isle bay-front home has three bedrooms and four baths. It features water views of the Lido Channel.
The property features 45 feet of bay frontage and a private pier and dock that can accommodate an 80-foot yacht and a side tie.
Its sale was represented by Steve High and Mary Ellen Weglarz of Villa Real Estate. High represented the seller, and Weglarz the buyer.
