Newport Coast continues to draw high-end home sales even amidst chatter of a recession, with one recent home in the community trading for nearly $29 million.
Over the past month, five homes have sold in the region—which includes the 700-home enclave of Crystal Cove—for a sales volume of $93.5 million.
In the top deal during that time frame, 22 Midsummer, an 11,613-square-foot Crystal Cove estate, sold for $28.8 million. It’s a sign of strong buyer demand for new, turnkey homes in Orange County—the five-bedroom, 10-bathroom property wrapped construction this year.
John Cain of Pacific Sotheby’s International Realty represented the seller and buyer, whose identities were undisclosed.
The custom home, built by Costa Mesa-based Pinnacle Custom Homes, is on a 0.4-acre lot with southwest facing views. A subterranean level includes an exotic car display, an open game room, a 336-bottle wine room, a gym, massage room and private bedroom suite.
The $28.8 million deal is the fourth priciest to take place this year in OC.
The four other top deals of the past month include:
• A 6,800-square-foot home at 4 Pinnacle Point sold for $10 million, marking a record price for the Pelican Ridge Estates. The home counts six bedrooms and seven bathrooms. The Agency’s Michael Caruso represented the sellers; Paul Daftarian of Luxe Real Estate represented the buyers.
• Totaling approximately 11,600 square feet and with five bedrooms and 10 baths, 7 Pelican Vista sold last month for $23.5 million. Coldwell Banker Realty’s Tim Smith represented the sellers; Bayone Real Estate Investment represented the buyers.
• A 6,400-square-foot Crystal Cove home built in 2017 sold for $15.7 million. The home at 9 Tide Watch counts five bedrooms, six bathrooms and is on a nearly half-acre lot. Yubo Mu of Pinnacle Real Estate Investments represented the buyers and sellers.
• Another Crystal Cove home elsewhere on Tide Watch sold last month for $15.5 million. The New Home Co. built the 6,000-square-foot home, with design by Robert Hidey Architects.