Welcome to the wonderful world of Orange County CA luxury homes, where prices and imagination know no limits. If you are looking for the finest estates to be found anywhere in the country, you will certainly find them here. However, this market is not for everyone; this is the place for people who really know what the Southern California luxury lifestyle is all about.
Check out all Orange County super luxury homes (20M+) right now before you run out of money.
There are currently 14 properties listed at a price in excess of $20 million, with the most expensive being $95 million.
Looking at the hottest areas, the Orange County CA luxury homes markets in the cities of Newport Beach, Newport Coast, Laguna Beach, North Tustin and Yorba Linda stand out.
Current active listings are as follows:
- 436 – $1 – $2million
- 340 – $2 – $5million
- 96 – $5 – $10million
- 34 – $10 $20million
Don’t expect to be in a hurry to sell, as homes in the over $1 million range can languish on the market for up to a year or more,; this is not good for sellers, but great for buyers. However, a California Realtor that is aggressive about marketing can make a huge difference in terms of days-on-market.
Sellers of the mega-million dollar homes can expect to wait 3 years. However, this presents a golden opportunity for prospective buyers of Orange County CA luxury homes. Keep in mind the axiom that if you buy any real estate in Southern California and hang onto it for a while, you will probably get rich. SoCal executive properties have proven themselves to be good investments over the long term.
The City of Irvine, always a strong real estate market, is not far behind with it’s latest and most expensive listing being in Shady Canyon. This is a 5 bedroom, 13,000 plus square foot home on over 1.7 acres at $16 million.
Year over year for the month of February, Newport Coast which features a large collection of Orange County CA luxury homes, has seen an increase in the median sales price of 24.3% with sales of 23 homes, a 91.7% increase in volume.
The month of March continued the trend with a median sales prices on Orange County CA luxury homes increasing year over year at 25.1% and a sales volume increase of 69.2%
Will the trend continue?…..wish I had a crystal ball, but all indications are that things a starting to improve. Also, keep in mind that market for upper bracket homes in our part of the world was not hit as hard by the housing market downturn than other urban areas.
Cash Buyers for Orange County CA Luxury Homes
There are a myriad buyers out there in all price ranges, many of whom are paying cash. We recently closed a cash deal at $1.6 and are working with a number of cash buyers in the $2 million plus range.
Also, buyers might be interested to know that it is possible to occasionally find seller financing for upper bracket Newport Beach homes.
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