CalBears96
Well-known member
Mid $2M for non view lots. The mountain view lots were only about $100k more. Those sold out quickly while some non view were sitting there for a few months.
Cielo million dollar price drops
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Azul reaped the benefits because it drove buyers to them since Olivewood prices went crazy and Cielo priority list was closed.
125 Drumbeat is a view lot. Ask Grok and ChatGPT what the view lot price is.
Given the baseline of ~$750-$800/sqft, and accounting for a view premium, especially when combining city + ocean view, here’s a rough estimate of what the median price per sq ft might be:
If you like, I can try to pull together actual sold data for 92618 with those views to give a tighter number. Would you prefer a rough estimate or actual recent-sales-based median?
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It looks like drumbeat sold for market price. Perhaps slightly lower.
irvinehomeowner
Well-known member
So not really a $1m drop comparatively.
Context and time matters.
More like overshoot on view lot premium.
Context and time matters.
More like overshoot on view lot premium.
CalBears96
Well-known member
Yes, they tried to bank in on the $1M view lot premium like Olivewood did. The problem for Cielo is that their view lots were released at the wrong time. Way too late.
Same problem with the Sierra. All they have now are the $3M view lots that nobody wants.
I thought they all sold out instantly. They closed the interest list on like the first week. I would have bought there if I could...
sleepy5136
Well-known member
Builders tend to leave the view lots in the last phase because they tend to increase price whenever possible prior to the last phase to maximize on the base market value + lot premium amount. It works well in a neutral and sellers market, but not when it's a buyers market.
CalBears96
Well-known member
I was referring to the original phase 1 by Irvine Pacific. But yes, the restart first few phases sold out immediately. We were lucky to be able to grab a home in the Shea phase 1. It turned out that Shea didn’t really raise prices in phase 2, only about $10-$20k, while New Home Company went crazy with Olivewood and raised prices by $200-$500k.
Azul reaped the benefits because it drove buyers to them since Olivewood prices went crazy and Cielo priority list was closed.
GrowthStateofMind
Active member
Mountain view there is rather underwhelming.
irvinehomeowner
Well-known member
So were the Irvine Pacific floor plans the same as Shea?
CalBears96
Well-known member
Shea kept Cielo floorplans exactly the same.
irvinehomeowner
Well-known member
Wow... TIC company with different floorplans?
I am so out of the new home landscape... what happened to Irvine Pacific?
I am so out of the new home landscape... what happened to Irvine Pacific?
sleepy5136
Well-known member
I think they are no longer building new homes and instead are selling the lots to builders. When each home closes, they take a commission off the final sale price
Liar Loan
Well-known member
Ok, so not a million dollar price drop. Only $850k or a 20% discount. Irvine is doing fine!
zubs
Well-known member
what is the median $/sqft of 92618?
grok.com
The median price per square foot in ZIP code 92618 (Irvine, California) is $806, based on the most recent housing market data for April 2025. This represents a 3.6% decrease from the previous year.
chatgpt.com
The median price per square foot in 92618 (Irvine, CA) is approximately $750–$800/sq ft. Redfin+1
Drumbeat sold for $3,278,760 / 3,225 = $1,016.67 per sq ft.
Is that bad?
copy pasting grok and chatgpt......chatgpt has better formatting. Grok output needs more pizzaz.
grok.com
The median price per square foot in ZIP code 92618 (Irvine, California) is $806, based on the most recent housing market data for April 2025. This represents a 3.6% decrease from the previous year.
chatgpt.com
The median price per square foot in 92618 (Irvine, CA) is approximately $750–$800/sq ft. Redfin+1
Drumbeat sold for $3,278,760 / 3,225 = $1,016.67 per sq ft.
Is that bad?
copy pasting grok and chatgpt......chatgpt has better formatting. Grok output needs more pizzaz.
125 Drumbeat is a view lot. Ask Grok and ChatGPT what the view lot price is.
zubs
Well-known member
Here are what I found + an estimate for 92618 with city + ocean views:
What we know
- The median sale price per sq ft in 92618 (all homes, regardless of view) is about US$751/sqft. Redfin
- The median listing price per sq ft in Irvine overall is around US$846/sqft. Realtor
- Some specific ocean-view or view homes in 92618 are listed (“139 Oakstone, Irvine CA 92618” is one example) but I didn’t find a consistent published median specifically for 92618 “ocean + city view” homes. Zillow+2Redfin+2
Estimate for homes with city + ocean view in 92618
Given the baseline of ~$750-$800/sqft, and accounting for a view premium, especially when combining city + ocean view, here’s a rough estimate of what the median price per sq ft might be:
- Lower bound: about US$900-$1,000/sqft — for less dramatic views, partial views, lower elevation, smaller lot, etc.
- More likely median: about US$1,100-US$1,300/sqft — for decent view, good orientation, minimal obstruction.
- High end: could go above US$1,400–$1,600/sqft or more if the view is panoramic, the home is luxury, on a premium lot, large height advantage, etc.
If you like, I can try to pull together actual sold data for 92618 with those views to give a tighter number. Would you prefer a rough estimate or actual recent-sales-based median?
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It looks like drumbeat sold for market price. Perhaps slightly lower.