This has been a record year for real estate sales in Laguna Beach. We have seen some incredible homes sell at amazing prices and some of the most premium properties coming on the market for sale. By far the most exciting part of the year was seeing the iconic Twin Points home come on the market for sale. Twin Points is a rare property that sits on a huge ocean front parcel of land that splits into two points, hence the name "Twin Points." The land can be seen from many coastline spots and we never thought we would see this iconic property come on the market this year.
Twin Points is located at 1101 Marine Drive in Laguna Beach. The home sold for $45,000,000 and closed escrow on 02/02/2016. It was originally listed at $75,000,000 and was on the market for a total of 257 days. The home sat on a huge 2.28 acre parcel of ocean front land that could easily be subdivided into many oceanfront parcels if the city would approve that. It was owned by the same family since the 1930's and is one of the last standing large parcels of oceanfront land that still exist in Southern California.
The second highest sale was located at 102 Emerald Bay which sold for $19,125,000 and closed escrow on 3/23/2016. The home was originally listed at one time for 29,995,000 and had been one and off the market several times by different brokers. Finally the home was to be sold at auction and marketed at $24,900,000. The sale was successful and sold just above $19 million dollars. The land was one the few beach front properties in the Emerald Bay gated community as seen below and offered unobstructed ocean front views. The home itself was a simple 4 bedroom, 3 baths house with 1,910 square feet of living space. It was pretty much in original condition so the sales prices was really land value.
The third highest sale occurred at 1885 Ocean Way in Laguna Beach. The home sold for $16,000,000 and closed escrow on 08/31/2016. It was originally listed for $21,000,000 and then re-listed again for $16,500,000 when it eventually sold for $16 million. The home was located in the upscale Woods Cove area and featured unobstructed ocean front views. The four bedroom, four and a half bath home offered 5,650 square feet of living space on a 10,010 square foot lot. Some of the features of this property included each bedroom offering it's own bath, private terrace, Master bath overlooking the ocean, Creston whole-house system, imported limestone flooring, Weiland sliders and wood and glass interior doors.
It will be existing to see what the 2016 Laguna Beach real estate market will look like in 2017. Over the last 7 years we have seen real estate prices inching upward and it will be interesting to see if that trend continues or if we will see some kind of a correction. No matter what happens we will keep you updated with the latest news here in Laguna Beach.