Laguna Beach Real Estate Sales Activity Highlights

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Laguna Beach Real Estate Sales Activity Highlights

Laguna Beach Real Estate Sales Activity Highlights

This Weekend’s Laguna Open Houses: Client Public Open House Report

For the first time in a while there are some consistent month to month trends

  • With the exception of one month, the closed sales since April 2010 have been trending an average of 28 sales a month. This is about the same level as 2006, the last year of the boom. In fact, there were more sales in 2010 then 2006
  • The big difference than the boom days, is 90% of the closed sale activity is below $2m. Half the homes for sale are over $2m.
  • In fact, for homes less than a $1m it is a seller’s market, with 5 months of ‘for sale’ inventory (less than 6 months is considered a seller’s market)
  • The ‘get a steal’ mentality is pervading with a $580 avg. per sq.ft. price for homes less than a million. Also, the limited numbers of foreclosures sell quickly. 6 out of the 12 foreclosures that were on the market the last couple months either sold or are in escrow

Real Estate Inventory for Laguna Beach

February 2011 Real Estate Market Update

  • February ended with 26 closed sales vs.31 in Jan. ’11 and 20 in Feb ‘10
  • 4 sales were foreclosures and 3 were short sales
  • 13 sales were less than a $1m (avg. $580 a sqft, 12% off of original price)
  • 10 sold between $1m and $2m (avg. $640 a sq.ft., 12% off of the original price)
  • 1 sold between $2m and $3m
  • 1 sold over $3m
  • Sales are trending close to the monthly average in 2010 of 27 closed sales
  • 298 homes are for sale, which continues to inch up  – 147 (nearly half) are over $2m
  • There are 29 ‘distressed’ properties are for sale – 7 foreclosures and 22 short sales
  • 26 properties went into escrow which is up – 15 were less than $1m, 10 are between $1m and $2m and 1 was over $2m
  • 44 properties had a price reduction (17% of ‘for sale’ homes) – consistent

Closed properties in Feb ’11

Client Short Page

CMA Page

Large Family Home:

Tons of Room (6,000 sq.ft.), Big Yard, Walk to Town and Beach, Huge Ocean Views, and unbelievably priced at $400 a sqft.  $2.5m Client Brief Report + Photos

Unique, First Time on the Market Home:

Single level, huge surrounding views, 15,000 sqft lot, Super Clean and Unique Architecture. Price well at $1.2m Client Brief Report + Photos

Restored 1937 Village Home:

You got to see the pictures. It’s over the top in detail. Priced at $790 a sq.ft. $1.995m  Client Brief Report + Photos

Condo in One of the Best Keep Secret Areas in Laguna:

Very rarely does a condo in this area go on the market. Great views, close to beach, and really neat, clean, up stairs unit. Priced at $746 a sq.ft. $1.050m Client Brief Report + Photos

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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