ResalesLaguna Beach, California Offers Sizzling Sellers" Market
Discovered by a swashbuckling pirate in 1818, what would become known as Laguna Beach has evolved into a small eclectic community of over 23,000 that has pulled together to live in harmony on California"s desirable coastline.
Unique to southern California with its own public transportation system, this is an artists haven," describe Realtors Lee and Russ Jacobs. "Laguna Beach is dedicated to the preservation of its pristine beaches, panoramic views, stunning gardens, and for its residents to enjoy a fine quality of life. Known for its fine restaurants, unique shops and host to "Fine Arts Festival" and "Pageant of the Masters" Laguna Beach is a cultural center with many creative aspects that characterizes this town."
Continue the Jacobs, "Laguna Beach has always been a trend settter. The housing market has always been strong since this is a haven for the creative efforts of so many.The spectacular views of the Pacific Ocean past Catalina Island are commonplace. Properties directly on the beach are typically the most expensive. Homes in the hills, on the coastline, in the charming town and in the canyons make Laguna one of the most diversified communities in Orange County."
That means an aggressive sellers" market. "Because of the high demand, entry level beach-cottages and condos begin in the mid $500,000"s and peak at almost $20 million," say the Jacobs. "The average price of a home in Laguna is in the $1 to $2 million range. Currently there are 229 properties for sale compared with 233 last month. The price break down looks like this:
There are 4 properties priced between $300,000 and $500,000.
For $169,000 you can buy a manufactured home with 3 bedrooms and 2 baths.
There is a land lease of $1614 a month
There are 46 homes priced from $500,000-$800,000.
There are 29 properties priced from $800,000 to $1 Million.
There are 100 homes priced from $1 Million to 2 Million.
A staggering 57 homes are priced over 2 Million
"The most expensive home on the market currently is listed at $19,500,000. It is a 4 bedroom/6.5 bath, 5440 sq. ft. contemporary home on a 30,000 sq. ft.lot," say the Jacobs.
"Like most of Orange County, the supply of housing is less than the demand. According to the Orange County Register dated May 19, 2002, homes in Laguna have risen 15.6% over this time last year."
"Buyers looking for a home in Laguna Beach are often drawn to the hilly, ocean-close terrain, which makes for spectacular ocean and coastline views," suggests Realtor Rick DiBello. "Laguna Beach is considered a very desirable community, and home prices reflect this. Downtown Laguna Beach has a "beach village" feel, with neighborhood gathering spots, fine restaurants and a pedestrian walking path along the beach and cliffs. The town is comfortable for the residents, who have a strong sense of local identity."
And home sales show no sign of going out with the tide.
"Sales continue to be strong," says Realtor Jeannette Brown. "This most desirable seaside community which attracts buyers from all over the world because of it"s seaside location, beautiful beaches, temperatures at 72 degrees almost year round, quaint shops and unique restaurants. Inventory of homes for sale is low, for this time of year particularly, however, because interest rates are also low. Buyers are taking advantage of those good interest rates which could begin to rise by the end of summer."
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