Homes are selling for as much as $61 million in a beach community in California – but insiders say real estate in the area is worth more.
Newport Coast has become a popular IT destination, offering prime real estate for a variety of lifestyles.
As of July 2023, the tiny enclave had the highest average home price in the United States, according to new data.
Real estate agent John Stanaland says demand in the area is high and growing as more people seek the Newport-area lifestyle at a variety of price points.
Each week he handles a wide range of deals ranging from $1 million to over $50 million in the Orange County region, which includes Newport Beach, San Clemente, Irvine and Laguna Beach. More than $415 million worth of real estate is currently on the market under his name.
This Newport Beach home will cost its buyer at least $32 million
Potential homebuyers need a whopping $20 million for this 6 bedroom home at 130 Monarch Bay Drive in Dana Point
The West Coast is home to some of the most modern and technologically advanced real estate
The incredible 9 bedroom home in Laguna Beach is priced at $35 million
“Sales in different parts of Orange County are certainly setting new price standards, with Newport leading the way,” he says.
“Some homes in the Newport area are so luxurious they would easily sell for $100 million if they came on the market today.”
In the 92657 ZIP Code, professionals can thrive in a major business hub, while renowned golf courses, beaches and fishing opportunities provide the ideal escape for a relaxed lifestyle.
The wider area, made famous by TV shows like The OC, Laguna Beach, Newport Beach and Selling The OC, is known for its prosperity.
“I’ve been fortunate to sell many homes over the decades in my business, and the level of luxury I’ve experienced is incredible,” says Stanaland.
“This is truly a one stop community that offers something for virtually everyone in addition to being a convenient, accessible place to live. The Californian dream but with no traffic.”
He says the real estate market in the Newport area offers a wide variety, from charming 1930’s cottages to the most modern, technologically advanced properties on the West Coast.
Amenities include state-of-the-art Control4 automation system, motorized blinds, solar panels (including pool heating), bulletproof rooms and pull-out televisions
Laguna Beach in Orange County is very popular with homebuyers
In addition to the two main houses there is a large fully fitted private gatehouse above a 3 car garage
Sprawling estates are common in Newport, with homes on steep hills and multi-generational homes at the end of long driveways.
“Also, practically all architectural styles are represented: from bungalows to Mediterranean, modern farmhouses to contemporary architectural styles – you name it.”
He currently has a listing on Bayside Drive at a price of $32 million, which comes with co-ownership of one of the longest docks on the West Coast, accommodating an 80-foot vessel.
Another house currently available at 11 Montage Way is located in one of the most exclusive resorts and has its own underground level with a bar and a large conference room.
“Luxury has become the norm in the area.” “People who want to be in California come here from larger cities/metro areas like San Francisco or Los Angeles.”
Stanaland says part of the surge in popularity is due to the pandemic.
“Buyers have realized how much this part of California has to offer – it’s kind of an oasis,” he explained.
“It really is a comfortable place to live that many buyers looking for a change from densely populated areas will appreciate.”
Buyers are flocking to the West Coast hoping to snag a beachfront property
The residence at 11 Montage Way sits on one third of an acre and is one of only 13 private residences on the resort
This contemporary Laguna Beach estate is priced at nearly $40 million
This property features a main residence with four en-suite bedrooms and a powder room and a two bedroom, two bathroom detached pool pavilion
There are around 2,500 homes in the area with numerous oceanfront options.
Though prices are high, homes don’t always sell overnight, but Stanaland says that’s to be expected.
“Typically, these houses are listed for six to 12 to 18 months,” he says.
“I’ve been fortunate to have sold a lot of luxury real estate throughout my career and I’ve come to realize that it’s important to position luxury real estate and wait and see.
“New buyers are entering the market every day – patience is required.”