The real estate market here in Laguna Beach, CA. has slowed down as compared to a year ago but prices have remained reasonably stable. In the past 3 months, there we 56 detached homes that have sold and closed escrow. The lowest priced detached home the sold was a 2 bedroom, 1 bath, 910 square foot home built in 1915 that sold for $872,000. This property is locate in Laguna Village and basically sold for its land value for the house was essentially worthless. The highest priced sale in the past 30 days was a property consisting of a main 3 bedroom, 3 bath home, with two units behind the main house. The property boasted of a sweeping panoramic ocean and Catalina Island view, and was located in the Victoria Beach community of Laguna Village. The median priced home was $1,825,000 and the average price of these 56 sold homes was $2,345,850. The average days on market was 89 days and the average cost per square foot was $658. Comparing this to the same 90 day period one year ago we find that there were 63 detached homes sold in Laguna Beach. The least expensive sold for $605,000 and was a 3 bedroom, 2.5 bath, 1,289 square foot home located in Canyon Hills which is about 5 miles from the coast and adjacent to Aliso Viejo. The most expensive property sold in Laguna Beach 1 year age during this 90 day period was a 4 bedroom, 4.5 bath, 6,300 square foot estate located on Coast Hwy in South Laguna. The sales price was $8.8 Million and this property boasted of panoramic ocean views. The median price 1 year ago was $1,625,000 and the average price was $1,931,942. The average price per square foot was $827 and the average days on market was 86 days. The median price increase by about 12% and the average price by about 20%, the median being the more accurate analysis. Although the price price square foot has dropped by 25% which is indicative of buyers buying larger homes in the past year and prices dropping somewhat.
Currently, there are 46 detached single family residences currently under contract in escrow in Laguna Beach. The least expensive home is a 1 bedroom, 1 bath, 536 square foot cottage built in 1935 located on Solana Way in Laguna Village, with an asking price of $849,900 which is essentially the land value. The highest priced home in escrow is a 3 bedroom, 3 bath, 2,646 square foot estate for $8.9 Million and incorporates a sweeping ocean view. The median price of these homes in escrow is $1,649,000.
On this day, there are 180 homes for sale ranging in price from a low of $725,000 for a 3 bedroom, 2.5 bath, 1,664 square foot home in the California Cove tract in Laguna Canyon. The highest priced home currently for sale is a 6 bedroom, 6.5 bath, 11,961 square foot luxury ocean front estate currently under construction. This fine property is located in the Emerald Bay community in North Laguna and is range priced from $18.9 to $33.9 Million. The seller/builder remarks that this property will one of the most remarkable oceanfront properties in the world. The median priced home for sale is $2,295,000 and the average priced home is $3,950,000. The average asking price per square foot is $1,142 and the average days on market are 102 days.
To view all home for sale visit our website at: Laguna Beach MLS. If you would like a private viewing of any of these fine luxury homes for sale in Laguna Beach, feel free to contact us at: 949-388-3396 or email us at: Info@SearchOCHomes.com
