April 2010 Laguna Beach Real Estate Activity

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May Flowers in Laguna Beach

April 2010 Laguna Beach Real Estate Activity

Spring has Sprung on Laguna Real Estate

With 30 closed sales (back to April 2006 levels).

30 Homes Sold (6 were distressed), up from the 20 homes sold per month average this year

25 Listings Went into Escrow for a total of 75 properties (31 are distressed properties) in escrow. We have not had 75 Pending sales since March of 2005, 5 years ago.

We have had 85 closed sales through the first four months of this year compared with 46 for last year…this is almost double the sales from a year ago!

Most of the action is in the less then $1.5m range with 20 out of 30 sales, but there were 9 between $1.5m and $3m

Distressed properties, especially bank owned (9 from 3) went up significantly, from 24 in March to 34 in April – 2 are over $2m

Additional Highlights -

  • 30 closed in April, 20 closed in March, 20 sales in Feb. vs. 15 sales in January and 39 in Dec.
  • 25 went into escrow in April,19 went in March, 25 went in Feb. vs. 22 in Jan
  • Inventory is staying level – 360 in April, 358 listings in March compared to 299 in January
  • 18% of active listings have had price decreases – no panic evident
  • Only 2 condos sold

Breakdown of homes sold in the different price ranges

9 houses were below $1m – price per sqft went up $100 to $812. Avg. price decreased 10% from original list price
11 houses were sold in the $1m to $1.5m range at $697 a sqft and avg 8% off original list price
5 sold between $1.5m to $2m% at an amazing $521 a sqft. Prices came down 13%
4 sold between $2m and $3m,at $892 a sqft and a 16% drop in price.
2 sold over $3m

About Author

Sean McCracken

As the OC Realtor I’ll help you find your special OC Coastal home at that special price. With my hand holding, I’ll take you through the buying process for the minimal amount of pain - Call Me @ 949-290-5317

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