Emerald Bay is well known for being one of the best places to find ocean view properties in all of Laguna Beach, California. The market for homes located on the oceanfront in Emerald Bay is also picking up with the recent pending sale at 168 Emerald Bay priced at $20,995,000. There is a lot of history to the oceanfront market here that explains some of these price jumps. First, 168 Emerald Bay has had a rich history of home sales over the year.
Back in 2007, this magnificent oceanfront estate home that features 5,750 square feet of living space sold for a record $19,000,000. This was truly a record price at the time and right before the market went down. The owners of that property then sold the property in 2012 for $16,000,000 a record price at that period of time in the Laguna Beach Real Estate market. Since then it has been privately been marketed for sale and then officially came on the market for $20,995,000 just a little over 6 months ago and accepted an offer a couple weeks ago.
Since the notice of this new record sale, neighboring property 170 Emerald Bay has now come on the market for just under $20 million at $19,800,000. This home also has a rich history and recently sold for $15,500,000 two years ago in 2013. It also has spectacular oceanfront views as pictured below and there is good speculation that this home should sell at this listed price. Not a bad return on investment for two years worth of ownership.
Currently, there are 3 available ocean front homes for sale that range from the home listed at 170 Emerald Bay for $19,800 to a $35 million dollar home that occupies both the ocean front and a guest cottage that sits directly on the sand. The luxury home market is seeing some incredible increases and the real estate market looks very bright for 2016. Please contact us if you are looking to purchase a home in the Laguna Beach area. We know this market well and can help you identify the right property and negotiate the best price for you. Call us at 949-355-1622 today.