Summer is winding to a close. School has started up again, colleges have opened their doors to welcome students, and toy marketing gurus are putting the final touches on their holiday advertising campaigns.
This summer has proven to be a sunny one for high-end home sales. The following statistics, compiled from Redfin and Zillow data for the three-month period between May 28 and Aug. 28, give a snapshot of summer 2017 to add to your mental photo album of why Orange County is among the country’s best real estate markets for luxury homes:
Number of homes sold above $4 million: 90
Highest priced home: $24.1 million for the ocean-view mansion at 1 Pelican Crest Drive, Newport Coast
Most square footage: 13,427 square feet at 1 Pelican Crest Drive, Newport Coast
Largest lot: the 4.9 acres of 31541 Peppertree Bend, San Juan Capistrano
Number of sold homes built this year: 11
Top three zip codes: 92657, Newport Coast, with 20 sales; 92663, Newport Beach, with 11 sales; and 92625, Corona del Mar, with 10 sales
Hillside Masterpiece
The custom mansion at 17 Premiere Point in Newport Coast underwent an extensive remodel this year. The estate sold on Aug. 15 for $8.4 million after listing in May for $7.1 million.
Materials including Calcutta marble, white oak floors and French-inspired decorative hardware, along with custom wood ceilings and antique mirrors, showcase the home’s European-inspired flare.
Other enhancements include a floor-to-ceiling atrium window wall and French doors in several rooms. The home boasts panoramic views of the ocean, the harbor, the Palos Verdes Peninsula and downtown Los Angeles.
There are five bedrooms and five baths, along with a library, a teen room, a butler’s pantry and craft room within the home’s 8,000 square feet. It occupies a .61-acre front-row parcel that includes a gated motor court and multiple lounge areas with a newly plastered saltwater pool and spa.
Jason C. Bradshaw and Darren Smith, both of Coldwell Banker Residential Brokerage, represented the seller, and Jennifer Wong of Villa Real Estate worked on behalf of the buyer.
At the Top
The estate at 25 Needle Grass in Shady Canyon boasts dramatic views of the Pacific, the Palos Verdes Peninsula and Catalina Island. The sale closed on July 20 for $7.6 million, making it the second highest sale price in Shady Canyon this year. Its April list price was $8 million.
Among its seven bedrooms and 7 ½ bathrooms, there’s a master suite equipped with a retreat, veranda, spa-like bath, its own cafe bar and dual dressing rooms.
The 9,923-square-foot home also features a movie theater; game room; full bar; gym with dressing room and steam shower; wine cellar and tasting room; laundry/craft room; maid’s quarters; and formal dining room.
Other highlights include wall-to-wall glass pocket doors, an elevator with access to all three levels, a main-level, four-car garage and detached guest house. The home sits on a .58-acre lot.
Jacqueline Thompson of the Jacqueline Thompson Group at Surterre Properties represented the seller in the transaction, and Sandi Clark of First Team Real Estate represented the buyer.
Best of Everything
Situated on a 2,505-square-foot lot—one of the largest in the area—and directly on the sand, the brand-new beachfront home at 4507 Seashore Drive in Newport Beach is the epitome of coastal living.
It sold on Aug. 24 for $7.3 million. It was listed in June for $7.5 million.
Among its amenities, the 3,650-square-foot home features opening glass walls on all levels that frame views of the Pacific, Catalina Island and the waves on the shore.
The main level consists of a kitchen, a large great room and a powder/beach bathroom. The second floor features four bedrooms, all with en suite baths. The master suite has ocean views, a large private deck, walk-in closet, and a custom master bath with a walk-in shower and soaking tub. The third floor includes a bonus room with a wet bar, another full bathroom, covered dining/sitting areas, and a large deck for sunbathing with enough space for a hot tub.
The transaction was represented by Amen Wardy of Realty Source Inc. on both the seller and buyer’s sides.
