Here are the latest numbers as of the end-of January 2024. Because each month can vary widely with a small sample size, these totals are a 3-month rolling average through January 2024 (Nov/Dec/Jan). Percentage changes are compared year-over-year.
Median Home Sale Price
Newport Beach: $3,185,000 | +18.0%
Laguna Beach: $2,905,000 | +6.6%
Corona del Mar: $3,997,500 | +8.0%
Newport Beach: 175 | +10.1%
Laguna Beach: 90 | +15.4%
Corona del Mar: 70 | +37.3%
Newport Beach: 168 | -10.6%
Laguna Beach: 138 | +13.1%
Corona del Mar: 81 | -2.4%
Newport Beach: 104 | +10.6%
Laguna Beach: 44 | +7.3%
Corona del Mar: 44 | +25.7%
Newport Beach: 118 | +29.7%
Laguna Beach: 57 | +26.7%
Corona del Mar: 44 | -2.2%
Days on Market
Newport Beach: 27 | 0.0%
Laguna Beach: 44 | +29.4%
Corona del Mar: 27 | -30.8%
Months Supply of Listings
Newport Beach: 3.4 | -2.9%
Laguna Beach: 6.3 | +31.3%
Corona del Mar: 5.0 | +28.2%
All data is from the California Regional Multiple Listing Service, INC.
What insights into OC luxury real estate can we take from the data above?
Although supply and demand varies, Newport Beach, Laguna Beach, and Corona del Mar are seeing homes sell for higher prices than this time last year. This suggests that buyers are well-funded and confident about the future.
More New Listings
It’s not just buyers who are optimistic: new listings are also up across the board. Sellers are getting off the fence to make their move. This is a great sign for an Orange County market continually defined by tight supply.
Demand Still Outweighs Supply
Even though we are seeing more new listings hit the market, in many cases the increased pace of sales has gobbled up any potential increase in active listings. (Of the three cities, only Laguna Beach had more homes on the market this January than last year.)
Pace of Sales a Mixed Bag
Corona del Mar saw the greatest increase in speed of sale, with sellers accepting an offer more than 30% faster than last year, spending an average of less than four weeks on the market. Sales in Newport Beach were similarly quick but unchanged from last year. Laguna Beach was the outlier with a nearly 30% increase in days-on-market, also reflected in the city’s growing number of active listings. However, these numbers fluctuate wildly, and Laguna Beach is currently trending faster with a median offer accepted in just 32 days this January.
As we look ahead, two major factors stand out: the influence of financial markets and mortgage rates on the luxury real estate sector in Orange County.
With stock prices currently soaring near record highs, it’s no big surprise that luxury home buyers are willing to spend more today for the home they want.
Mortgage rates, however, remain elevated for the moment. While analysts still predict a gradual decrease in rates this year, recent jobs and inflation reports have pointed at rates staying a bit higher for a bit longer. While the Fed maintains a conservative approach, there’s a lot of activity waiting in the wings.
The Coastal Orange County luxury real estate market continues to exhibit strength and resilience, characterized by rising prices, an increase in new listings, and a competitive pace of sales.
As we monitor the complexities of financial markets and mortgage rates, The Stavros Group, led by Andy Stavros, remains a trusted partner in achieving your real estate goals. With our commitment to excellence and a deep understanding of the Orange County luxury market, we are here to offer you personalized, expert guidance.
For more insights and to stay ahead in the luxury real estate market, we invite you to connect with us. Let’s explore the opportunities that await in Newport Beach, Laguna Beach, and Corona del Mar together. Your dream property could be just a conversation away.
Address The Stavros Group
12 Corporate Plaza #250, Newport Beach, CA 92660
Creating an indoor-outdoor living space in your Orange County home not only enhances the luxury lifestyle while you live in it but may also add significant value to the property when it comes time to sell.
Inspired by expert advice of professional designers, this post will guide you through the basic steps to create a luxurious outdoor living room with a focus on year-round comfort, durability, and elegance. If you decide to go down this route, please feel free to reach out for any professional recommendation you may need. As top Realtors in Orange County’s luxury coastal communities of Newport Beach, Laguna Beach and Corona del Mar, we have a network of trusted vendors and contractors with whom we are happy to connect you.
“Spending more time outdoors, even in cold weather, became the new normal in 2020, and years later, that trend lives on,” says Martha Vicas, a Washington D.C-based designer, to Mansion Global. The outdoor living room has become a cornerstone of luxury real estate in Orange County, especially in the luxury coastal communities of Newport Beach, Laguna Beach, and Corona del Mar. Designed for relaxation and entertainment, these spaces blend luxury and nature in perfect harmony. Before you break ground, the key to a successful outdoor living room is to create a space that is both functional and inviting, allowing you to enjoy your home’s exterior space in any weather.
We benefit from beautiful mild weather on the Orange Coast, but the evening ocean breeze can still carry a chill. Architect JP Ward of Anthony Wilder Design/Build emphasizes the versatility of heating options for outdoor spaces: “Fireplaces and heating elements can make a screened porch usable year-round.”
Integrating heating solutions such as gas fireplaces, infrared ceiling heaters, and underfloor heating can transform your outdoor space into a year-round haven. These features add warmth during cooler months and enhance the ambiance of your outdoor living room. Designers emphasize the importance of selecting heating options that blend seamlessly with the space’s aesthetic while providing efficient warmth.
Kate Donahue, architect at Four Brothers Design + Build, advises on the necessity of choosing the right materials: “I recommend exterior-grade materials wherever possible… We ensured that all finishes and fixtures were approved and rated for outdoor use.” Maybe this goes without saying, but choosing materials and appliances that can withstand the elements is crucial for the longevity of your outdoor living space.
Opt for water-resistant fabrics, exterior-grade finishes, and appliances designed for outdoor use. This ensures that your outdoor living room remains beautiful and functional through all seasons, reflecting the durability and quality expected in Orange County luxury homes.
Martha Vicas again provides valuable advice on achieving the perfect balance between practicality and luxury: “A four-season room needs to accommodate people coming directly from a pool, tennis court, or other outdoor activity. At the same time, it needs to feel cozy and luxurious.” The essence of a luxurious outdoor living room lies in its ability to offer comfort and opulence. Incorporate plush textiles, high-end appliances, and natural materials to create a welcoming yet elegant space. The right mix of cozy textiles and luxurious amenities can turn your outdoor living area into a preferred relaxation spot, reflecting the sophisticated lifestyle offered by Orange County luxury real estate.
An indoor-outdoor living room is a lifestyle upgrade and potentially a smart investment in the luxury real estate market of Orange County. If you are considering a change in your lifestyle, whether you want to renovate your current home or sell and buy another, let’s chat about how we can help. As top luxury Realtors in Newport Beach, Laguna Beach and Corona del Mar, the Stavros Group has a proven track record of success.
The holiday season is a time for family, friends, and fun. And what better way to celebrate than by taking a stroll through one of Newport Beach’s many holiday light displays? From elaborate light shows to simple twinkling lights, there’s something for everyone in Newport Beach.
Here are a few of the best places to see holiday lights in Newport Beach:
Balboa Island is a charming island community in Newport Beach that is known for its beautiful homes and festive holiday decorations. Stroll down Marine Avenue and admire the twinkling lights on the homes and shops. Be sure to stop by the Balboa Island Museum to see their annual holiday exhibit.
Boating in Newport Beach Amidst Christmas Lights
Fashion Island is a high-end shopping mall in Newport Beach that is decked out for the holidays. Stroll through the mall and admire the elaborate light displays and festive decorations. Be sure to stop by the ice skating rink for a fun winter activity.
Holiday Lights at Fashion Island Mall
Newport Dunes Waterfront Resort is a popular destination for boaters and vacationers in Newport Beach. The resort is decorated for the holidays with twinkling lights, festive decorations, and a life-size Santa. Be sure to take a walk along the waterfront and enjoy the views of the harbor.
Floating Holiday Light Displays at Newport Beach
The Waterfront is a popular gathering place in Newport Beach that is perfect for a stroll or a picnic. The area is decorated for the holidays with twinkling lights and festive decorations. Be sure to stop by the Newport Beach Pier to see the views of the ocean and the harbor.
The Dana Point Harbor Christmas Boat Parade
These are just a few of the best places to see holiday lights in Newport Beach. With so many beautiful displays to choose from, you’re sure to find the perfect place to enjoy the holiday season. And as always, if you have any questions regarding real estate, feel free to reach out. We would love to hear from you.
The holiday season is upon us, and while it’s a time for festive celebrations and quality family moments, it can also be an opportune moment to indulge in one of life’s greatest pleasures – buying a luxury home. In this article, we’ll explore the magic of holiday luxury home buying, and why the holidays can be an excellent time to purchase your dream home.
Imagine stepping into a luxury home adorned with twinkling lights, garlands, and a beautifully decorated Christmas tree. The holiday season transforms these properties into magical wonderlands, and you get to experience them in all their glory. This unique seasonal decor not only enhances the property’s charm but also allows you to envision your future holiday celebrations in the house. The warm, cozy atmosphere is simply enchanting and makes these luxury homes all the more appealing.
Decorated Christmas Tree
One of the often-overlooked advantages of holiday luxury home buying is the potential for negotiation. Sellers during this time of year may be more motivated to close the deal before the year ends. Whether it’s for tax purposes or simply to move on to their own holiday plans, sellers may be more open to negotiation. As a buyer, you might find yourself in a favorable position, with opportunities for price adjustments, reduced closing costs, or even added amenities. This is particularly advantageous in the luxury real estate market, where even a slight reduction can translate into substantial savings.
Miniature Christmas Tree Farm Scene
While others are caught up in holiday festivities and may put their property search on hold, you can gain a significant advantage by staying active in the market. There’s typically less competition for luxury homes during the holidays, giving you more time to explore and consider your options without feeling rushed. Fewer competing offers mean you can take your time to carefully assess each property and make informed decisions. This can lead to a smoother buying process and a higher chance of securing the luxury home of your dreams.
Woman Viewing Christmas Trees in Luxury Home
The holiday season offers a unique opportunity for luxury home buyers to explore exclusive properties in a festive atmosphere. With the potential for negotiation and less competition, it’s a season full of surprises and advantages for those considering year-end home purchases. So, if you’re in the market for luxury real estate, don’t miss out on the magic of holiday luxury home buying – your dream property might be waiting for you to unwrap it this holiday season!
In Orange County’s upscale real estate market, interior design plays a pivotal role. More than just aesthetics, good design heightens a property’s appeal to discerning buyers. Join us as we navigate through the importance of interior design in luxury homes, providing insights and tips on effective staging to magnify your property’s charm.
First impressions matter, especially when you’re dealing with high-end real estate. Luxury buyers are looking for something extraordinary, something that sets their potential new home apart from the rest. This is where interior design comes into play.
Marbled, Double Sink Vanity with Gold Framed Mirrors
Staging a luxury home in Orange County is an art form in itself. It’s about creating an emotional connection between the buyer and the property. To achieve this, start by ensuring that the entrance exudes luxury. A grand foyer with elegant furnishings, a tastefully designed chandelier, and a meticulously placed piece of artwork can set the tone for what’s to come.
While luxury often conjures images of opulence and excess, modern luxury interior design in Orange County often leans toward the concept of subtle elegance. Buyers are increasingly seeking homes that provide a sense of tranquility and comfort while maintaining an air of sophistication.
Modern, Hanging Light By Wood Panel
Incorporate neutral color palettes and natural materials like marble, wood, and stone to create a sense of harmony. Choose high-quality fabrics and furnishings that not only look exquisite but also feel comfortable. Invest in custom-made furniture and fixtures that cater to the specific needs and tastes of the property.
One of the most underrated, yet powerful elements of luxury interior design is lighting. Proper lighting can transform a room from ordinary to extraordinary. In Orange County’s sunny climate, embrace the abundance of natural light. Large windows, glass doors, and strategically placed mirrors can make your luxury home feel bright and inviting.
For the evenings, invest in statement lighting fixtures that serve as both functional and decorative elements. Chandeliers, pendant lights, and wall sconces can create a warm, intimate atmosphere that potential buyers will find irresistible.
Flowing Floorplan View of Home with Modern Furniture and Wall of Windows
Luxury homes in Orange County often feature spacious layouts, and it’s essential to make the most of this generous space. Consider open floor plans that allow for seamless transitions between different areas of the home. Create defined yet interconnected spaces for living, dining, and entertaining.
When staging, arrange furniture to highlight the flow and functionality of each room. Place sofas and chairs in conversational groupings, use area rugs to anchor spaces, and ensure that pathways are clear and unobstructed. The goal is to make it easy for buyers to envision themselves living comfortably in the space.
Inground Pool with Woman Reading Book in Chair
Orange County’s temperate climate is a significant selling point for luxury homes. Take full advantage of this by seamlessly integrating outdoor spaces into the overall design. A well-designed outdoor living area can be a major selling point for high-end buyers.
Consider adding features like a pool, spa, outdoor kitchen, or a cozy fire pit if you don’t already have. Furnish these spaces with top-of-the-line outdoor furniture that complements the interior design and creates a sense of continuity between indoors and outdoors. Lush landscaping and well-maintained gardens can further enhance the appeal of the outdoor areas.
Luxury, Spa Bathroom with Natural Finishes
Ultimately, luxury real estate in Orange County is not just about buying a property; it’s about embracing a lifestyle. To convey this to potential buyers, ensure that every aspect of your staging and interior design reflects the aspirational lifestyle they desire.
Incorporate elements that showcase the home’s potential for entertaining, relaxation, and recreation. Highlight features like a wine cellar, home theater, spa-like bathrooms, and spacious walk-in closets. Create spaces that allow buyers to envision hosting elegant parties, enjoying quiet evenings, or indulging in self-care.
Interior design is not a mere afterthought in the world of luxury real estate; it’s a powerful tool for selling a lifestyle. In Orange County’s competitive market, where discerning buyers seek the extraordinary, the right interior design can make all the difference.