The Newport Beach real estate market saw several properties sell for over the $15 million dollar price point with the top three highest sales consisting of properties located right next to the water in the Linda Isle and Balboa Peninsula neighborhoods. These included luxury bay front homes as well and beach front properties located next to the sandy beach. It's been a crazy year in real estate that was a total switch as what we experienced in 2021. We no longer see multiple offers on a lot of properties and homes are typically staying on the market longer than we have seen in several years. The higher end market for prime properties is still seeing home sell within one to two months if priced correctly. The top 3 highest sales this year in Newport Beach were all on the market for 3, 18 and 52 days respectively.
37 Linda Isle, Newport Beach was the highest sale in Newport Beach for 2022. The four bedroom home ended up selling for $27 million dollars in February 2022 after being on the market for 3 days. It was originally listed at $28,900,000 and was quickly sold due to it's prime location in arguably on of the best gated bay front communities in Newport Beach known as Linda Isle which enjoys a 24 hour guard gate, clubhouse and tennis court. The property offered an amazing 50 feet of water frontage with over an approximate 6,000 square feet of living space on two different levels. It also included a private dock which could accommodate a boat up to 80 feet.
320 Buena Vista Boulevard was the second highest sale this year which sold for the full asking price of $24 million in April after being on the market for 18 days. The six bedroom property features over an approximate 5,200 square fee with three different levels of living space. It was located right on the water of the Newport Bay in the upscale Balboa Peninsula area. Unlike Linda Isle, this is not a gated community but a small strip of land that occupies some of the best water and ocean front homes in Newport Beach. This was a unique find as it was newly built in 2017 and offered 60 feet of water frontage which is very much sought after in this area. The architecture was an Eastern Seaboard style home with an open floor plan with a modern vintage style to it. One of the selling features for this property is that is came with two private piers to accommodate a variety of boats.
1510 E Oceanfront, Newport Beach was the third highest sale at $19 million in April of 2022. This was located at the very end of the Balboa Peninsula which is often referred to as "The Point" where the Pacific Ocean and the Newport Bay meet. It's also located near the popular surf break "The Wedge" which attracts surfers from all around the world. The eight bedroom home featured an estimated 8,400 square feet located on a double lot. Photos of this home are stunning with an amazing Contemporary design for a beach front property. One of the selling features for this home is that is was located in an area of the Peninsula where there is no boardwalk located in front of it. Because of this you can enjoy private and unobstructed views. Below are some of the most recent homes that have sold in the Newport Beach area.