It’s a fact that the Orange County and the entire southern California residential real estate market is going through a correction.  But so far, the Laguna Niguel, Ca. real estate market for detached homes has held up well… let me illustrate.

In the past 90 days, there have been 100 detached homes that have sold and closed escrow in Laguna Niguel.  These homes range in price from a low of $575,000 for a 2 bedroom, 2.5 bath, 1,1501 square foot home on Mira Verde in the Altamar tract, on up to a high of $6,725,000 for a 6 bedroom, 9.5 bath, 7,000 square foot estate on Monarch Crest street in the Monarch Point Custom homes neighborhood, which boasts of panoramic ocean views.   The median price of these 100 homes was $880,000 and the average price $1,215,550.  The average price per square foot was $444/SqFt and the average days on market was 68 days.

Comparing these prices to exactly one year ago, we find that there were 138 detached homes that sold and closed escrow in Laguna Niguel in this same 3 month period of time last year.  These home ranged in price from $578,000 for a 2 bedroom, 2.5 bath, 1,326 square foot home on Via Entrada in the Del Prado Villas tract, on up to $4,000,000 for a 5 bedroom, 6 bath, 6,041 square foot home on Carmel Woods street in the Ocean Ranch subdivision.  The median priced detached home sold last year was $970,000 and the average priced home was $1,114,528.  The average price per square foot was $443/SqFt and the average days on market was 60 days.

Comparing last years sales today to today, we find that the Average price of a detached home has gone up by about 9%, and the Median priced home sold dropped by about 9%, and the Average Price per Square Foot has essentially stayed the same (increased by 0.2%).. So which number do you believe.  From our experience, we have found that the Average Price per Square Foot is the most accurate statistical method to determine the overall home price movement of an area over time.   The simple Average of prices can be highly influenced by a couple of high priced sales, and both the simple Median and Average of home prices can be skewed by a change in buying habits… for example, fewer sales numbers in the lower price ranged neighborhood and higher sales rates in the higher priced neighborhoods (which is what has been happening in the past year or so).   

To round out the analysis,  we’ll also look at homes Pending and Active for sale.  Currently there are 302 detached homes that are Active for sale in Laguna Niguel.  These homes range in price from a low of $574,900 for a 3 bedroom, 2 bath, 1,303 square foot home on Casitas Ct in the Lake Park tract, on up to $7,900,000 for a 7 bedroom, 7.5 bath, 8,780 square foot estate on Asilomar street in the Ocean Ranch subdivision.  The    Median of these 302 detached homes is $1,075,000 for a typical 4 bedroom, 3 bath, 2,500 SqFt home. 

There are currently 47 detached homes that have are Pending under contract in escrow.  These homes range in price from a low of  $655,000 (actually range priced from $639,000 to $669,000) for a 4 bedroom, 2 bath, 1,897 square foot home on Caswell Ct in the Lake Park tract, on up to $7,295,000 for a 10 bedroom, 10 bath, 22,000 square foot estate on Morning Drive in the Bear Brand Ranch neighborhood.

If you would like to see all home listed for sale in Laguna Niguel, visit our website at:  Laguna Niguel Homes for Sale.   If you would like to see the inside of any home or condo currently listed for sale, please feel to contact us anytime at:  949-388-3396 or Info@SearchOCHomes.com

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