A 5,091-square-foot home in Corona del Mar traded last month for $16.1 million.
The home, at 2033 Bayside Drive, is one of CdM’s few bayfront properties with a dock, according to listing agent Casey Lesher of Coldwell Banker Realty.
The home’s dock, which stretches 54 feet into Newport Bay, is oversized compared to other bayfront CdM properties, which tout docks that range from 40 to 50 feet in length, Lesher noted.
Lesher’s client, who lived in the house for over two decades, is planning to move out of state. The home’s new owner, who was represented by Fadi Haweileh of eXp Realty, is local.
‘Timeless’ Design
The 2033 Bayside Drive property boasts a Polynesian design—by Newport Beach architect Brion Jeannette—which highlights the home’s bayfront view.
“As soon as you walk through that gate, you can see the ocean through the house,” Lesher said.
The entrance of the three-bedroom, four-bathroom home is lined with fountains and pools that lead to the front door.
The property, built in 2005, has only seen a partial remodel since its delivery.
“The home was built in a timeless manner,” Lesher said. The previous owners were also diligent about the property’s upkeep, he added.
Lesher’s client purchased the home’s 7,844-square-foot lot in 2001 for $5.2 million.
The property had been taken on and off the market since 2016, when it was listed for nearly $20 million.
The home was then taken off the market about a year later. In 2021, the property returned to the market with an asking price of $22.5 million, though it didn’t have any takers.
The home was most recently listed last December at nearly $18 million. Three months later, it sold for its $16.1 million price tag.
Mixed Market
Amenity-rich homes in CdM and across Orange County have been highly sought after by local and outside buyers.
Properties with views, a transitional or modern design and with large, open floor plans have been popular among those looking to own a home in OC.
“If it’s just something that’s mediocre, there’s no demand for it,” Lesher said.
Such a dynamic has created a “mixed market,” Lesher noted.
While historically popular pockets of CdM continue to thrive in the current luxury market,” another community in the Newport Beach neighborhood has been seeing increasing demand: Harbor View Hills.
The more than 150 home, elevated community—several of whose properties tout ocean views—saw eight trades last month. That’s up 60% in the last two years ago.
The demand for the area’s homes, which span from about 1,700 square feet to over 8,000 square feet, has been driving up prices for the community. The area’s homes in recent years have ranged from around $1 million to $17.5 million, according to sale data from Zillow.
