The luxury homes market—defined by real estate experts as the most expensive 5% of homes sold in a given quarter—has reached a new milestone in Orange County this year. The price per square foot averaged more than $1,000 for a luxury home, according to combined information from online real estate aggregators Redfin.com and Trulia.com.
Buyers of properties in the coastal communities of Laguna Beach and Corona del Mar paid the most per square foot on average—$3,893. The highest price paid per square foot was $10,013 for the home at 102 Emerald Bay, one of the last beachfront cottages in Laguna Beach.
Homeowners slightly inland in luxury communities such as Coto De Caza, Turtle Rock and Laguna Niguel paid an average of $649 per square foot. The average price per square foot in Orange County across all markets is $367.
Prestigious Perfection
The 13,306-square-foot European-inspired estate at 20 Shell Beach in Newport Coast closed April 28 for $9.05 million.
The seven-bedroom, 11-bath estate, reminiscent of a European country manor, was designed by renowned Newport Beach architect Richard Krantz and built by Rodeo Homes. It’s complete with wainscoting, coffered ceilings, French doors, and wrought-iron stair railings and accented with art-quality finishes selected by Laguna Beach interior designer Robert Ricker.
The home is set on a private, gated 0.75-acre lot that includes a three-point regulation half basketball court, a one-bedroom guesthouse, a swimming pool and spa, and a putting green.
Inside, the four-level home’s amenities include two chef’s kitchens, a theater, indoor basketball court, fitness room, and climate-controlled wine room, plus a subterranean garage for 11 cars.
The transaction was represented by John Cain and Kathryn White of HÔM Sotheby’s International on the seller’s side and Devin Lucas of Lucas Real Estate on the buyer’s.
Stunning
The bayfront home at 853 Via Lido Soud in Newport Beach sold on April 18 for $8.8 million, under its January list price of $11.8 million. It sits on the eastern tip of Lido Isle.
The south-facing 0.12-acre property graces Newport Harbor with 55 feet of frontage, a private dock for a yacht, and its own sandy beach.
The soft-contemporary style home has three bedrooms and 4 ¼ baths. It was recently remodeled and boasts a gourmet kitchen with Italian cabinetry by Snaidero, double ovens, a large wine refrigerator, Sub-Zero refrigerator, and a wet bar.
The first level is complemented with bay views from the formal dining room, kitchen, and living room with fireplace. The second level features a master bedroom overlooking the bay, a retreat, and a bathroom with a soaking tub.
Diana Miner of Coldwell Banker Residential Brokerage represented the seller, and Sharon McKinnon of Villa Real Estate worked on behalf of the buyer.
Elegance on the Bay
The Mediterranean-style home at 107 Via Lido Soud in Newport Beach sold on April 20 for $7.5 million, coming in under its April 2015 list price of $9 million.
The 5,939-square-foot home has five bedrooms and six baths and sits on a 0.13-acre parcel on Lido Isle with approximately 82 feet of frontage.
Its dock accommodates two vessels up to 95 feet and 110 feet. A large patio with an outdoor kitchen, barbecue and Jacuzzi takes full advantage of the home’s bayfront perch.
John McMonigle of Berkshire Hathaway HomeServices represented the seller and the buyer in the transaction.
Steps from the Sand
The 4,985-square-foot ocean-view home at 50 Emerald Bay in Laguna Beach sold on April 25 for $6.2 million, coming in under its February list price of $6.3 million.
It’s situated on a 0.89-acre parcel on the ocean side of the Emerald Bay community. The four-bedroom, five-bath home has three levels of ocean views through disappearing doors and windows. Other features include limestone floors and giant, carved stone fireplaces. The lower level has a three-car garage, fully equipped family room and private infinity-edge spa with a fireball feature.
Allison Seesemann of Villa Real Estate represented the seller in the transaction, and Andre White of HÔM Sotheby’s International negotiated on behalf of the buyer.
