With the rapid increase in the prices of detached homes over the past 10 years in Orange County, Condominiums have been a very popular choice for many homebuyers. Due to these changes in market dynamics, and the scarcity of buildable land, home builders have been building more new Condos in recent years.
The majority of new Condos built in south Orange County in the past 2 years have occurred in Irvine, Tustin Ranch, Ladera Ranch and Talega in San Clemente. The community of Quail Hill has seen most of the new Condo construction in the city of Irvine. There are currently 10 new Condominiums for sale that have been built in the past 2 years in Quail Hill. These new Condos range in price from a low of $584,900 to a high of $880,000, with the median price of $739,000. There are currently 5 Condos pending In Escrow in Quail Hill priced from $502,990 to $845,000.
In Tustin Ranch, there are currently 4 new Condos for sale that have been built in the past 2 years. These range in price from $699,000 to $848,800, with an average cost per square foot of $475/SqFt.
For south Orange County, Ladera Ranch and Talega has the highest concentration of new Condominiums built in the past 2 years. At this time there are 16 new Condos listed for sale in Ladera Ranch, with the lowest price being $494,500 and the highest price $699,000. The median price is $559,900 and the average price per square foot is $359/SqFt. There are currently 4 new Condos pending In Escrow and 7 Condos that have sold in the past 30 days with a median price of $478,500.
In popular community of Talega, there are currently 16 new Condos for sale ranging in price from $511,900 to $770,000, with a median price of $629,000. There are also 3 Condos pending in escrow, and 15 new Condominiums that have sold and closed escrow in the past 30 days.
There are a few other south Orange County cities that have seen some construction of new Condos in small subdivisions. To view all new Condos for sale built in the past 2 years in Orange County, visit our website at: Orange County Real Estate.
