REAL ESTATE
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Brisk Home Sales: Despite the slowdown in home sales during the first quarter of 1995, sales of custom home sites at the Irvine Co.’s exclusive ocean-side community of Newport Coast were brisk.
“Sales have been exceptionally good at Newport Coast even though the Orange County market in general has suffered a decline in home sales compared to the first three months of last year,” said Rudy Svrcek, senior vice president at the Irvine Co.
From March 1 through April 15, buyers purchased 20 custom lots at Newport Coast, for a total of $18.8 million in sales. Lots at Newport Coast range from $400,000 to $5 million.
There are three communities in Newport Coast: Pelican Point, on the ocean side of Coast Highway; Pelican Hill, a neighborhood with views of Corona del Mar and Catalina Island; and Ocean Ridge, a hillside neighborhood near the wilderness area of Los Tancos Canyon.
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