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Buyers Pay Top Dollar for Local Homes in April

Luxury buyers in Orange County flooded the market last month to snap up eight-digit high-end homes, with April proving to be the busiest sales volume month so far in 2023.

Seven homes sold above $10 million last month for a cumulative sales volume of $126.3 million, more than double the nearly $46 million in sales volume seen the month prior. Just one home sold above that price point in February, with 9 Seabreeze in Dana Point trading for $16.7 million.

April is typically a busier-than-average homebuying month; last year’s sales volume for the month topped $160 million across a dozen transactions.

Buyers still appear to be scouting opportunities for discounts, with all of last month’s transactions representing price cuts from their respective listing prices, ranging from 5% to 20% off the original price tags.

The priciest sale of last month is also the top price paid year-to-date, and set a new price record for the gated Newport Coast community of Pelican Crest.

The 12,000-square-foot home at 1 Shoreridge Drive sold for $34 million. The 12,000-square-foot home at 1 Shoreridge Drive sold for $34 million. It was brokered by Paul Daftarian of Luxe Real Estate.

“National reports maintain that housing prices have dropped drastically, but that’s not the case in Orange County,” Daftarian said.

Rounding out the top five reported single-family home sales in the first four months of the year are:

1 Pelican Crest, $33.6M
NEIGHBORHOOD: Pelican Crest
SPECS: 13,500 SF; 7 beds/11 baths
ACRES: 0.7
SALE DATE: Jan. 4
YEAR BUILT: 2010
LISTING PRICE: $45M
LAST SOLD: 2017, for $24.1M
LISTING AGENT: Paul Daftarian of Luxe Real Estate
BUYER AGENT: Rob Smith, Michael Franco of Compass

22 Deep Sea, $22.2M
NEIGHBORHOOD: Crystal Cove
SPECS: 12,234 SF; 6 beds/9 baths
ACRES: 0.8
SALE DATE: April 7
YEAR BUILT: 2007
LISTING PRICE: $27.9M
LAST SOLD: 2022, for $14.5M
LISTING AGENT: Hanna Karcho-Polselli, Remo Polselli of Luxury Fine Homes
BUYER AGENT: Ying Ye of Keller Williams Signature Realty

38 Pelican Crest Drive, $17.8M
NEIGHBORHOOD: Pelican Crest
SPECS: 9,276 SF; 5 beds/8 baths
ACRES: 0.4
SALE DATE: April 20
YEAR BUILT: 1999
LISTING PRICE: $19.99M
LAST SOLD: 2021, for $10.7M
LISTING AGENT: Paul Daftarian, Jenn Chen of Luxe Real Estate
B­UYER AGENT: Sheril Liu of TLRK Properties Inc.

31791 Coast Highway, $17.1M
NEIGHBORHOOD: Totuava Beach
SPECS: 4,863 SF; 4 beds/6 baths
ACRES: 0.5
SALE DATE: Jan. 3
YEAR BUILT: 2014
LISTING PRICE: $19.5M
LAST SOLD: 2019, for $13.5M
LISTING AGENT: Carrie Gilmore, Paige McDaniel of Compass
BUYER AGENT: Ryan McMillian, Robert Mackertichian of Fiv Realty Co.

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