A custom-built waterfront estate in Newport Beach’s Dover Shores neighborhood sold for $16.5 million, reflecting the continued demand for luxury harbor-front homes.
The property at 301 Morning Star Lane spans 6,600 square feet and closed at roughly $2,500 per square foot, according to Homes.com.
The sales price is about 17% below its initial asking price of nearly $20 million when it first listed last March. The home spent 298 days on the market, according to listing records.
Even with the price reduction, the sale is notable for its 148 feet of harbor frontage, which is one of the largest single-lot frontages in Dover Shores, said Tim Smith, a realtor at Coldwell Banker Realty, who represented the buyer and seller.
“It’s the largest single lot in Dover Shores, and there are only a few others similar to it,” Smith told the Business Journal.
Plenty of Sunlight
Built in 1965, the European-style villa is at the end of a cul-de-sac with marina and city views and features plenty of sunlight.
“From the street it looks normal, but once you walk in, it really opens up,” Smith said. “It gets a lot of sun, doesn’t get much wind, and it really shows off the indoor-outdoor living.”
The home includes five en-suite bedrooms and seven bathrooms, a private dock that can accommodate multiple vessels, and a resort-style terrace with a pool, spa and outdoor kitchen. Interior amenities include a home theater, gym and a primary suite with panoramic harbor and city-light views.
While Dover Shores does not command the extreme pricing seen across Newport Beach and Orange County’s other affluent areas like Crystal Cove and Pelican Hill, its waterfront homes remain highly prized.
Smith said one estate on Bayshore Drive in Bayshores sold for more than $30 million, noting that the property combined two lots into a single parcel with 156 feet of harbor frontage.
“That was two lots put together,” he said. “This property on Morning Star was only one lot.”
Smith said buyers are drawn to Dover Shores for more than just price.
“It’s one of the premier family neighborhoods in the Back Bay,” he said. “You’re next to the aquatic center, there are two private beaches, and many families have a Duffy or a boat. You can watch the rowing teams practice. You don’t really get that in places like Crystal Cove.”
Despite a slowdown in luxury demand following the post-COVID 19 surge, Smith said harbor-front real estate has remained one of Orange County’s strongest residential asset classes.
“Bayfront real estate has seen about 6% appreciation, making it the best-performing residential segment in the county,” he said.
For 2026, Smith said buyer activity is already picking up.
“We’re seeing a surge of people touring $15 million homes,” he said. “Inventory is still historically low, and we’ve already broken $100 million in sales—and it’s only January.”
