A beachside community in California has homes selling for as high as $61 million – but insiders say properties in the area are worth more than that.
Newport Coast has become a buzzing IT destination, offering world-class real estate to a range of lifestyles.
In July 2023, the small enclave had the highest median residential listing price in the US, according to new data.
Realtor John Stanaland says the demand in the area has been high, and it’s increasing as more people seek the Newport area lifestyle at various price points.
Each week he deals with a wide range of listings, from $1 million to upwards of $50 million, in the Orange County area, which includes Newport Beach, San Clemente, Irvine and Laguna Beach. He currently has more than $415 million worth of property under his name on the market.
This Newport Beach home will cost its purchaser at least $32 million
Potential homebuyers will need a cool $20 million for this 6 bedroom home at 130 Monarch Bay Drive in Dana Point
The West Coast holds some of the most cutting-edge, technology-forward properties
The incredible 9-bedroom home in Laguna Beach has a price point of $35 million
‘Sales in various parts of Orange County are certainly setting new price benchmarks, with Newport leading the way,’ he says.
‘Some homes in the Newport area are so luxurious that they would easily sell in the $100 million range if they came onto the market today.’
In the 92657 ZIP Code, professionals are able to thrive in a large business hub while renowned golf courses, beaches and fishing creates the ideal haven for a leisurely lifestyle.
The wider area, made popular by TV shows such as The OC, Laguna Beach, Newport Beach and Selling The OC, is known for affluence.
‘I have been fortunate to sell many homes during the decades in the business, and the level of luxury I have encountered is incredible,’ Stanaland says.
‘This really is a one-stop community that caters to virtually anyone and is also a convenient, accessible area to live in. The California dream, but without the traffic.’
He says the property market Newport area offers a lot in terms of variety from charming 1930s cottages to the most cutting-edge, technology-forward properties on the West Coast.
Property features include Control4 state of the art automation system, motorized blinds, solar panels (inclusive of the pool heating system), bulletproof rooms and retractable TVs
Orange County’s Laguna Beach is proving popular among homebuyers
In addition to the two main homes, there is a sizable fully equipped private gate house over a 3-car garage
Sprawling estates are a common find in Newport with homes located atop bluff tops and multigenerational compounds at the top of long driveways.
‘Virtually all architectural styles are represented, too: from bungalows to Mediterranean, modern Farmhouse, contemporary – you name it.’
He currently has a listing on Bayside Drive with a price point of $32 million which comes with shared ownership on one of the longest docks on the West Coast, able to accommodate a 80 ft vessel.
Another home, currently available at 11 Montage Way, is located within one of the most exclusive resorts, boasting its own subterranean level with a bar and a full-sized conference room.
‘Luxury has become the norm for the area. People who want to be in California end up gravitating here from bigger cities/metropolitan areas such as San Francisco or Los Angeles.’
Stanaland said part of the surge in popularity emerged following the pandemic.
‘Buyers realized how much this part of California had to offer – it is an oasis of sorts.
‘It is truly an enjoyable place to live, which many buyers looking for a change from areas of higher density appreciate.’
Buyers are flocking to the West Coast in hopes of scoring a beachside property
Located on a third of an acre, the residence at 11 Montage Way is one of just 13 private homes at the resort
This contemporary estate is up for almost $40 million in Laguna Beach
This property has a main residence with four ensuite bedrooms and a powder room, as well as a two-bedroom, two-bathroom detached pool pavilion
The area holds roughly 2,500 homes with an abundance number of oceanfront options.
While they’re up for big prices, the homes aren’t always scooped up overnight, but Stanaland says that’s to be expected.
‘It is usual to see these homes listed for six to 12, to 18 months,’ he says.
‘I have been fortunate to sell many trophy properties throughout my career and realize it is about positioning luxury listings correctly and waiting.
‘New buyers come into the market every day – patience is the name of the game
The realtor’s family has been selling real estate in the area since the early 20th century.