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Monday, Dec 5, 2022

Limited Inventory Pushes Pricing Up at The Strand

Along with other coastal communities in Orange County, the Strand at Headlands continues to face diminishing inventory of luxe homes for sale, with prices rising as a result.

One home in the Sanford Edward-overseen luxury gated community in Dana Point recently sold for $20 million, among tops for the city this year.

It’s the priciest on record for homes in the third and highest row of the multi-tiered development. While beach-front properties at the development often trade at prices approaching $20 million, those in the third row typically sees sales prices between $5 million and $10 million.

Currently, there’s nothing available for sale below $15 million in the 121-acre community, with just five active listings.

“With diminished inventory along the coast, there are very little homes for people to see right now. It’s really heightened demand and pricing,” said frequent area broker Arlen Raubach of Compass.

“This is a situation I’ve never seen before.”

Limited Inventory 

Raubach represented both sides of the transaction for 9 Oceanfront Lane, a 13,777-square-foot home that was built in 2019. The custom estate is on a half-acre lot with nine bedrooms and 13 bathrooms. Chris Light and Hawk & Co. designed the interiors of the home.

The last record price for a third-row home in the Strand was $9.6 million, three years ago.

Property records indicate the buyer of 9 Oceanfront relocated from a nearby home in the Strand; that home at 3 Oceanfront recently traded for $9.1 million.

Brokers have noted that it’s common for buyers to relocate within the Strand, especially in the wake of the pandemic, with buyers emphasizing larger lots and the amenities that come with gated communities, such as beach access and top-tier security.

“The Strand is home to many high-net-worth entrepreneurs, many of whom are no longer going into the office,” Raubach said. “They’re deciding to instead invest in a larger, modern home.”

Raubach has noticed that vacation home- owners in the Strand decided to relocate to the community full time, with many owners in the market for a newer, larger home.

“Many people sheltered here during lockdown, and loved their home and the community so much they decided to make it their primary residence,” Raubach said.

Some buyers looking for turnkey luxury homes may be out of luck, with very few properties for sale. Raubach has three of the five active listings within the strand.

There’s a waiting list for listings on the front row in particular, where there’s only one home for sale. That 7,852-square-foot estate at 31 Strand Beach Drive has a $23.5 million asking price.

Top Deals

Raubach also represented the more recent sale of 17 Beach View in the Strand, a second-row home that sold for $17 million.

Three homes have sold above $20 million in Dana Point year to date, all in the Strand.

The top sale to occur this year in the Strand is also the priciest on record for the community: the $23.6 million sale of 33 Strand Beach.

The front-row home spans 8,900 square feet and was built in 2009. 

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