The Emerald Bay community in Laguna Beach is going through a construction boom as real estate prices are starting to move upwards and the demand for these homes is growing. There are several new construction homes currently being built in various parts of the community as we have seen record breaking prices for homes sold in this community in the last 12 months.
This week a new listing just came on the market in the Emerald Bay community for a record $38 million. The highest priced home in Emerald Bay. The home is located 156 Emerald Bay and just down the street from a home at 168 Emerald Bay that sold for $16 million last summer. What makes this home so unique and that much more expensive is the direct steps down to the beach with it's own private cabana. This marks the 3rd home on the market in Emerald Bay that is priced over $19 million dollars.
In the last 12 months there have been a record 25 sales in the Emerald Bay community ranging from $2 to $16 million. Many of these homes sold in just a matter of days of being on the market and some with multiple bids and offers. At the beginning of 2012 the Laguna Beach Real Estate market started heating up as many realized that these low of prices would not last long in this prime area of Southern California. Real Estate prices rose roughly 7% last year and still continue to increase in 2013. Many of the older ocean front homes are being bought and torn down to build brand new custom homes.
Currently, there are still some fixer upper ocean front properties on the market in Emerald Bay that would be excellent candidates for a new build that offer great ocean front views. As of today there are a total of 14 homes on the market in Emerald Bay with 4 additional properties in-escrow and accepting back-up offers. Below are the current available homes for sale in this community. If you are thinking about buying this year we encourage you to act sooner than later as real estate prices and demand continues to go up.