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Laguna Niguel and Dana Point Housing Market Report

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Real Estate Agent with The Ron Buck Group BRE# 01364665

Laguna Niguel and Dana Point Housing Market Report

Real estate sales statistics are always local and vary greatly even between cities, neighborhoods and price ranges. The cities of Laguna Niguel and Dana Point are in South Orange County CA and they have a wide variety of home sizes and prices. Entry level detached homes start about $600,000 and range into the multi-millions. By the way an ocean view always adds value (from 10% to 100%) typically 20% at least.

County wide inventory is not keeping up with demand, according to economist Steven Thomas. Most notably in the entry level market and single family homes under a million. Shades of spring 2013, before the interest rate increases of that summer, we are now having multiple offer situations. One of my listings sold in one week with one buyer and one of my buyers faced NINE offers on a different home at $800,000. That price by the way would be over the all time high for that particular neighborhood. Click here to search for homes. The RED line, showing 2015 inventory, falls below the BLUE line which represents inventory in 2014.

 Orange County Housing Inventory

Laguna Niguel and Dana Point experienced about a 30% price correction after the crash in 2007. Once the short sales began to disappear in 2012 the prices jumped quickly through May of 2013. Since then I have been telling my clients that we had NOT returned to the pre-crash pricing. Now I may have to rethink that statement as I am seeing some price ranges return to peak levels if they are in great condition.

Buyers are beginning to feel the frustration of low inventory and especially low inventory of remodeled properties. If home sellers have a unique location and superior condition they can expect to reach near record sale prices or over. Buyers however are more picky than ever and don't want to pay even market averages for properties with a lot of deferred maintenance.

Dana Point The Strands                                                                The Strands at Dana Point

Laguna Niguel and Dana Point home sellers and home buyers as always are experiencing the results of supply and demand in the housing market. Buyers are trying to get their dream home before the interest rates rise again.

For expert Realtor advice and representation call RON BUCK at Keller Williams Realty. BRE 01364665. www.RonBuckGroup.com.

Comments (4)

Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

I appreciate reports from your stellar area...I find that similar stats appear in my secondary home/discretionary region within about 4 to 6 months.

Mar 20, 2015 06:37 AM
Ron Buck
The Ron Buck Group - Laguna Niguel, CA
Associate RE Broker at Keller Williams Realty

BC is beautiful but haven't been there for years.

Mar 20, 2015 08:36 AM
Roy Kelley
Retired - Gaithersburg, MD

Thanks for sharing your local market report.

Make this an outstanding week.

Mar 22, 2015 01:45 AM
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Ron,

You have very insightful real estate market reports that are perfect for buyers and sellers alike!

Mar 25, 2015 04:47 PM