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Coastal Communities Boast Solid $10M+ Sales Year

Orange County’s coastal region is as renowned for its sophisticated yet laid-back vibe as it is for its captivating scenery. Communities on the coastline are equally famous—both for their beauty and price tags.

Orange County boasts some of the most valued real estate in California. Nineteen homes closed at more than $10 million in 2013, and two closed at more than $20 million.

2014 is positioned to do even better above the $10 million mark in coastal OC’s most sought-after communities, according to Andre White, senior associate with the Cain White Group, which is part of HÔM Sotheby’s International Realty.

The sales numbers year-to-date bear that out.

There have been 12 closed sales in Laguna Beach so far this year, six between April and June, five between July and September, and one in October. There’s currently one home in escrow.

“Six of the sales this year were in Irvine Cove, three were in Emerald Bay, and all were bluff-top and/or oceanfront,” White said. “Four of the sales were over $20 million, and two were over $30 million. The highest sale was in Emerald Bay. By comparison, in 2013, there were eight sales in Laguna Beach over $10 million.”

Newport Coast boasted five closed sales, two of them currently in escrow, one in Crystal Cove, and one in Pelican Point. There were two closed home sales between January and March, two more that closed between July and September, and one that closed in October.  

“Two of the sales were in Pelican Crest, one in Pelican Hill, one in Pelican Point, and one in Crystal Cove,” White said. “In 2013, there were eight sales in Newport Coast over $10 million.” 

Newport Beach has claimed six closed sales above $10 million so far this year, with one current escrow poised to close. Three closed between April and June, two in the July-through-September period, one in October, and one in late November.

“All were bayfront homes, except for one on Mesa Drive,” White said. “The highest sale was on Harbor Island. In 2013, there were four sales in Newport Beach over $10 million.”

White added that two of the current escrows are homes prices over $20 million.

“If both close this calendar year,” he said, “that would bring the total to seven sales over $20 million this year versus two sales over $20 million in 2013.”

Here are recent sales highlights:

Bay Island Beauty

12 Bay Island in Newport Beach is regarded as one of Bay Island’s premier properties. The estate is on 4,183 square feet of a natural promontory surrounded on three sides by the harbor, lawns and gardens, a private white-sand beach, and uninterrupted water views.

It sold on Nov. 26 for $17.2 million, above its August list price of $15.25 million.

The 5,415-square-foot, three-story home, which has five bedrooms and six baths, features interiors rendered in mahogany, limestone, bronze and Venetian plaster. It has floor-to-ceiling glass sliding doors that open the interior living spaces to the outdoors. The outside living areas include several seating spots, balconies, and a rooftop deck. There’s also a spa that’s positioned so that occupants look out over the ocean.

Robert Giem of HÔM Sotheby’s represented the seller. Tara Foster Shapiro of HÔM Sotheby’s worked for the buyer.

Heaven on a Hilltop

The 11,500-square-foot Palladian-style mansion at 10 Skycrest in Newport Coast sold on Nov. 19 for $16.5 million, under its June list price of $17.4 million.

Robert Giem of HÔM Sotheby’s represented the seller; the buyer’s agent was Richelle McComb, also of HÔM Sotheby’s.

The six-bedroom, eight-bath home is on a 0.79-acre lot in Pelican Crest on a hilltop parcel with panoramic views of the water.

The residence is hidden from the street behind walled Mediterranean gardens that include olive and citrus trees and roses. Inside, it has a two-story reception hall that leads through the home to the loggia, courtyards, swimming pool and ocean-view gardens.

The property also includes a separate guest suite with a private entrance.

Panoramic Views

The 5,000-square-foot oceanfront estate at 29 Bay Drive in Three Arch Bay in Laguna Beach has panoramic views that include the bay, the bluff, the Pacific, and Catalina Island, as well as a private pathway to the sand.

The transaction closed for $9.5 million on Dec. 2. Its October list price was $9.9 million.

The four-bedroom, six-bath home, which sits on a 15,000-square-foot lot, was newly built in 2011. It features an elevator to all levels, ocean vistas from all rooms, four fireplaces, hardwood floors, an oceanfront spa, outdoor fireplace, covered terraces, and a rear yard with gardens.

The kitchen offers imported granite and a walk-in pantry. The master suite has a private balcony and retreat, and the master bath features imported stone and a steam shower.

Dean Lueck of First Team Estates represented the sellers. Lance Hall of Realty One Group Inc. worked for the buyers.

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