One of Orange County’s first luxury home sales of the year closed in Crystal Cove for $31.5 million or $2,070 per square foot, underscoring continued demand for high-end trophy properties despite broader market uncertainty.
The palatial estate at 26 Deep Sea is located within the guard-gated Crystal Cove neighborhood in Newport Coast.
The seven-bedroom, 10-bathroom home with a 15-car garage spans more than 15,200 square feet and sits on a nearly 26,300-square-foot lot.
Built in 2009, the property features an infinity pool and 178 feet of ocean frontage. The property was originally listed for $39 million in April 2024, according to Redfin.
Rex McCown and Marcy Weinstein of Compass Real Estate represented the seller. Tim Smith of Coldwell Banker Realty represented the buyer, whose identity was not publicly disclosed.
The Crystal Cove neighborhood is known for its gated security, proximity to Crystal Cove State Park and ocean-view properties. With HOA fees hovering around $1,400 a month, it is among the most exclusive enclaves in Orange County.
Views from many of the properties extend from Newport Harbor to the Palos Verdes Peninsula, with Catalina Island visible on clear days.
The seven-bedroom estate at 26 Deep Sea emphasizes indoor-outdoor living.
The main level features a central open-air courtyard with a fireplace, formal living and dining rooms with imported Italian marble fireplace mantels, and a chef’s kitchen that opens to a great room through retractable pocket doors facing the ocean.
A primary suite on the main level includes a fireplace, refreshment bar and spa-style bathroom, along with a private spiral staircase leading to a gym. Upstairs are three oversized ocean-view bedroom suites with private decks, as well as a media lounge and viewing tower.
OC’s Luxury Market
The sale comes as luxury home sales in Orange County slowed in 2025 amid fluctuating interest rates and economic uncertainty.
Sales fell 7% in December from November, and now sits at 105, its lowest level since the start of January 2025, said Steven Thomas, an economist and founder of Reports on Housing.
Luxury homes are sitting longer.
“For homes priced above $6 million, the expected market time increased from 283 to 365 days,” Thomas said in his monthly newsletter.
However, high-net-worth buyers have continued to pursue trophy properties in supply-constrained communities such as Crystal Cove.
In the past four months, four homes in the Newport Beach area have sold for more than $20 million, including 18 Swimmers Point in Newport Coast for $38 million in October, 2200 Pacific Drive in Corona Del Mar for $20 million in November, and 18 Channel View in Crystal Cove in Newport Coast for $20 million in January, according to Redfin.
