Laguna Beach Summary of 2010 Real Estate Activity

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Laguna Beach Summary of 2010 Real Estate Activity

Laguna Beach Summary of 2010 Real Estate Activity

The market ‘closed’ sale activity has been consistent for the last 5 – 6 months, even through the holiday/winter months, and is at 2006 levels. The vast majority of the sales are less than $2m. While the jumbo loans are becoming more available the difficulty qualifying are still an impediment to the sales of homes over $2m. Half of Laguna’s homes for sale are over $2m so it is going to be interesting to see what happens over this next year.

The inventory is more in line with what it should be at 278 homes compared to 400 homes in August ‘10. It appears many sellers are now leasing their homes or taking them off the market. So far this year the amount of new homes coming on the market has been limited.

Foreclosures have doubled to 15 over the last couple months and the impact of the prices sold on some of the higher end homes has impacted those for sale in higher price ranges.

Personally, I would say the activity at open houses and showings has been strong but there may be a warning sign with the amount of sales going into escrow is down.

Spring starts springing in mid February so let’s hope for a great buying season.

2010 Real Estate Summary

  • The monthly average for closed sales – 27 sales
  • Total sales were 334 sales compared to 282 sales in 2009 and 320 in 2006
  • Average price was $1,782,14
  • Median price was $1,265,656
  • 112 homes sold were less than a $1m
  • 138 homes sold were between $1m and $2m
  • 37 homes sold were between $2m and $3m
  • 19 homes sold were between $3m and $4m
  • 28 homes sold were over $4m

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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