Rex McKown, Marcy Weinstein and Team Sell More than $500 Million in 2017, $60+ Million in December Alone
McKown | Weinstein | Associates, the top-producing luxury real estate team in one of the nation’s most active and competitive markets, today announced that they have achieved a record-breaking year. Helmed by Orange County, California luxury real estate leaders Rex McKown and Marcy Weinstein, the group has sold more than $500 million in 2017, and more than $50 million in December alone.
“People realize how scarce prime land and ultra-luxury properties are in coastal Orange County, and are buying with a sense of urgency,” said Marcy Weinstein, co-founder of McKown Weinstein Associates. “As a result, we’re seeing many off-market transactions and an increasing number of ‘tear downs’ of luxury estate properties in key view locations, especially in the Pelicans communities of Newport Coast.”
A record-breaking year for luxury real estate in OC
Affiliated with Surterre Properties in Newport Beach, California, McKown | Weinstein | Associates has been the acknowledged luxury real estate market leader in coastal Orange County for more than 25 years. With numerous record-setting years and transactions to their credit, 2017 has proven to be the group’s most successful year yet, beating their previous yearly sales record by $100 million.
In addition to recording a new high water mark for overall sales, McKown | Weinstein | Associates also set the following records in 2017:
- Highest Priced Sale in Pelican Hill: 12 Fairway Point sold in December for $19,650,000
- Closed three out of six of Orange County’s highest real estate transactions
- Represented 39 percent of all custom home transactions in Newport Coast in volume and units which is double the amount of the closest competitor
- 41 South Sur in Crystal Cove was sold only 1 Day on market
- 1 Pelican Crest Drive is the highest price per square foot in the history of Newport Coast
McKown | Weinstein | Associates Co-Founder Marcy Weinstein attributes their team’s continued success to a deep understanding of the coastal luxury market and its cycles over decades, as well as land and property values. In addition, she cites the group’s proven ability to service every aspect of a luxury estate transaction under one roof, as a defining factor in their performance. “From marketing to staging to negotiations, and from inspections to interfacing with the city to escrow and title, no one can provide the expertise and results that we can,” she says.
A look ahead to the market in 2018
Looking ahead, McKown and Weinstein see the dawning of a new era for luxury real estate in coastal Orange County. “The era of coastal land in Orange County is gone. There is no more coastal land to build on,” says Weinstein. “In fact, we are on our fourth ‘tear down’ project in Pelican Hill, which demonstrates the limited state of inventory for prime land and properties in this submarket.”
“This scarcity has us bringing offers to owners of estates that aren’t even on the market,” adds Weinstein. “We just closed a deal this month that represents the highest price per square foot achieved in Pelican Crest – this after showing it only once. It wasn’t even on the market.”
When asked what luxury property owners can do to prepare for 2018 – whether or not they are planning to buy or sell a home, McKown and Weinstein have two tips to offer:
- Always keep up on homemaintenance – you never know when someone will come knocking on your door with an offer, especially given today’s tight inventory
- Understand and be aware of the new tax laws that will be coming into play – and how they will affect your real estate holdings and transactions
About McKown | Weinstein | Associates
The renowned team behind McKown | Weinstein | Associates has dominated Southern California’s luxury real estate market since 1991. Unrivaled expertise in the market, industry-standard digital marketing, and tireless dedication to the success of every transaction has brought them widespread recognition worldwide. McKown | Weinstein | Associates consistently outshine and outperform all other agents and teams among Newport Coast’s custom home sales. With remarkable, documented strength in skillfully listing, marketing, and selling this specialty niche of residences, the team claims a substantial lead in market share within the luxury sector of the coastal Orange County marketplace, far surpassing any competition. To learn more, please visit www.NewportCoastProperties.com.
