Vicki Gunvalson on Why She's Selling O.C. Home She Turned from a 'Dump into Something Very Special'

Vicki Gunvalson/Instagram; Inset: Charles Sykes/Bravo/NBCU Photo Bank via Getty

Vicki Gunvalson is already saying goodbye to her new Coto de Caza home.

The Real Housewives of Orange County alum, 59, who purchased the California property in April 2021 for $1,035,000, is now looking to sell it for $1,599,000, PEOPLE confirms. The listing was first reported by realtor.com.

"I love my house, it's a great house," Gunvalson tells PEOPLE exclusively. "When I first got it, it needed a lot of work but I really turned it around from this dump into something very special."

She was planning to keep the house, which she's called a "jewel box," for a while, but explains, "My realtor said there's a high demand for real estate, so I figured, 'Why not put it on the market and see what happens?'"

Vicki Gunvalson/Instagram

Gunvalson says she's already gotten three offers over asking on the property, but isn't budging just yet.

"I'm going to take my time because I don't necessarily need to move," she says. "I had no desire to flip it when i bought it but there is a high demand for my home right now and it's a good flip.

Though she's considering selling her O.C. house, Gunvalson insists she's not leaving the West Coast just yet. "I want to be near my daughter Briana and the grand kids eventually; they're in Chicago now, and I want to be with family. I don't want to be alone."

"But my business is here and I love the O.C. still," she insists. "I'm still in Coto now, which is where I raised my kids, so if I sell this property I may try to find a place that's a little more happening. I'm going to go out and look for other places this weekend."

RELATED: Vicki Gunvalson Reveals Her 'Newest Condo' in Puerto Vallarta, Mexico

Vicki Gunvalson/Instagram

Shortly after purchasing her three-bedroom, three-and-a-half bathroom home — which was smaller than her previous residence — Gunvalson began renovating the property and shared the progress on social media. In April, she posted footage of the work-in-progress, telling her followers at the time, "This 'downsizing thing' is becoming real. Demo and construction starts Monday."

The reality star shared that she "gutted" the kitchen, and revealed her plans for the full reno: "New white cabinets with quartzite counters. Island being turned the other way and new Cantina doors being installed on back wall. All new appliances and fixtures coming," she wrote.

There would also be a "total renovation" of the primary bathroom, she said at the time, telling her followers she was "creating a double vanity with makeup station" and "relocating [the] closet door."

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Vicki Gunvalson/Instagram

Gunvalson proudly showed off her finished home in July.

"The Jewel Box that @cindyshockey designed for me is exactly what I wanted," she wrote, thanking her interior designer. "Uncluttered with soft grays and cream tones with a touch of natural wood tones is perfect for my new home." She added the hashtags #lowmaintenance, #lessismore and #happyplace.

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Gunvalson moved into her downsized home after putting her previous Coto de Caza residence on the market for $3.35 million in August 2020, the Los Angeles Times reported.

She said goodbye to that longtime residence in a May 2021 Instagram tribute, writing, "Some say a house is just bricks and mortar, however I disagree. This home created so many memories for not only my family but for @_jedi_mom_ and @shawnchyde and their family. @mikewolfsmith and Briana were 12 & 13 when we bought it. They are now 34 and 35 and I can't believer [sic] how fast life goes."

Vicki Gunvalson/Instagram Vicki Gunvalson

Buying and selling homes is a longtime passion for the star — and she's made plenty of moves in recent years.

Gunvalson purchased two properties in Puerto Vallarta, Mexico. She showed off a condo in the beachfront vacation destination in June 2020, which she moved into the following month calling it "one of my best decisions."

She revealed the second purchase in January 2022, sharing two photos showing a pool illuminated and flanked by palm trees and an impressive view of the ocean.

vicki-gunvalson/Instagram; Inset: Charles Sykes/Bravo/NBCU Photo Bank via Getty Images

"I love investing in real estate. I have two placed in Puerto Vallarta, and I don't have mortgages on either. I own about $1.5 million worth of property out there, free and clear. So I'm all about getting more real estate and building my wealth," she tells PEOPLE.

It's been a busy few months for Gunvalson, filled with highs (like the filming of Peacock's second Ultimate Girls Trip installment) and lows (the end of her engagement). But these days, Gunvalson says "life is good."

"I'm really in a great place," the reality star says. "My kids are happy and healthy, I have a new grandchild on the way, a loving family, a wonderful circle of friends around me, my business continues to be successful, and I'm even dating someone new," she says, playing coy about her mystery man. "He's a really great guy. He's quality. We've been spending a lot of time together. And best of all, he wants nothing to do with the spotlight — he's very private. We're enjoying getting to know one another."