The Luxury Market Report released April 7 by Coldwell Banker Previews International found that Newport Coast and Laguna Beach experienced big increases last year in sales in the $10 million-plus category. Both cities join the list of the top 10 luxury real estate markets in the U.S., alongside such elite markets as La Jolla; Naples, Fla.; and Aspen, Colo.
The report says $10 million-plus sales in Newport Coast were up 175% compared with 2014 and that Laguna Beach sales at that price point were up 43%.
The report indicates that national list-to-sales-price ratios were 90% or higher, indicating robust demand in key luxury markets across the country.
Last of Its Kind
The last remaining oceanfront cottage in Emerald Bay in Laguna Beach sold on March 23 for $19.1 million, $5 million off its October list price of $24.9 million.
The 1,910-square-foot home at 102 Emerald Bay has four bedrooms and four baths and is ready for renovation.
It’s on an 11,200-square-foot lot that offers unobstructed Catalina Island, coastline and water views. The south-facing home receives maximum daylight. The guard-gated Emerald Bay community it’s part of offers a private beach, six tennis courts, a clubhouse, community swimming pool and complex, several parks, two playgrounds, and its own fire station.
Nancy Casebier of HÔM Sotheby’s International Realty managed both sides of the transaction.
Total Tranquility
The four-bedroom, five-bath custom bayfront home at 18 Linda Isle in Newport Beach sold on April 13 for $7.2 million, just under its $7.3 million June asking price.
The 5,360-square-foot home is on a 6,098-square-foot lot with 75 feet of bay frontage. It also has a 70-foot dock that offers space for several large vessels, including a 90-foot-plus yacht, another 50-foot-plus yacht and tenders.
The one-of-a-kind property offers a panoramic formal living room with 12-foot ceilings, a fireplace, a sunken bayfront bar, formal dining room for 12 or more, and waterfront patio with a hot tub.
The wrap-around patio includes a bayfront spa, fountain and access to the private dock and harbor below.
Robert Koop Jr. and Walter “Cap” Havekorst of TeKoop Properties Inc. represented the seller, and Rod Daley of Coldwell Banker Residential Brokerage negotiated on behalf of the buyer.
The Heart Wants What it Wants
The 4,000-square-foot, four-bedroom, four-bath Cape Cod at 228 Iris Ave. in the heart of Corona del Mar is steps from the beach on a 4,720-square-foot lot. It sold on April 15 for $6.2 million, under its March list price of $6.5 million.
The custom home offers hand-finished woodwork, including wainscoting and crown molding. Other touches include marble countertops, designer lighting, and custom tile work in all bathrooms.
The kitchen offers custom cabinets, an oversized marble island, prep sink, built-in wine cooler, Sub-Zero and Wolf appliances, and a La Cornue range and oven.
Landon Miller of Harcourts Premier Properties represented the transaction on the seller’s side, and Adrienne Brandes of Surterre Properties Inc. on the buyer’s.
All New, All Views
The ocean-view home at 80 Archipelago in Newport Coast, listed in January for $5.1 million, sold on April 15 for $4.9 million.
It has four bedrooms, five baths, and comes in at 4,100 square feet. The lot size is 10,555 square feet.
A contemporary remodel, which took more than seven months, was just completed.
It’s been entirely modernized, from the all-new kitchen featuring Calcutta marble countertops, new cabinets, a butler’s pantry with Sub-Zero wine refrigeration and an enlarged center island, to the great room, which boasts 20-foot ceilings, white oak flooring, and bifold panel doors that bring the ocean views indoors.
Jason C. Bradshaw of First Team Estates represented the seller, and Jesse Barraza of Surterre Properties represented the buyer.
