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Laguna Realty Grabs 6 Spots in the Top 10

After showing some signs of revival Laguna Beach Realty has again left Laguna Beach Realtors into despair. The recently gained momentum has been lost and it has become difficult to sustain market in the Laguna Beach Real Estate.

Author: Andy Williams
Date: Oct 20, 2009 - 7:02:42 AM

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Laguna Beach Real Estate has become the prime example of the uncertainty the US real estate market is witnessing these days. It is evident that we are just not out of the economic crunch completely.

After gaining some momentum last month, Laguna Beach Realty has dropped on the pace it had picked up and all the hopes of the revival has been dusted once again. Although the revival is on the cards but how long it is going to take is something even the Laguna Beach Realtors are skeptical about.

Market time for the Laguna Beach Homes that had dropped after it held the record of being the slowest market for a brief period in September has just gone up from 10.32 months to 11.03 months in the past two weeks. It is the third slowest market in the Orange County and the good news is that it is just not the slowest as yet. The city’s market times are also up from four weeks ago which is expected in the present circumstances. Once you know that the market times for Laguna Beach Homes were 15.74 and 31.44 months in the year 2008 and 2007 respectively then you realize that the situation is not all that grim right now.

The current scenario is apparently a little bit brighter in the Laguna Beach Real Estate and for that thanks to the Newport Beach and Corona del Mar market which fell into the similar slump making Corona del Mar the slowest market in Orange County something which Laguna Realty was never proud of. Market is slowing down in the real estate of Dana Point and San Clemente as well. Market times for Dana Point went from 5.46 months to 6.19 months while San Clemente slowed from 3.41 months to 3.96 months. The high selling prices have been significant in the slow down for the Laguna Beach Realty. According to Laguna Beach Realtors, the homes are valued at an average of $4 million which is not a surprise for premium Laguna Beach real estate properties but it has become difficult to find enough buyers to sustain the market and maintain the momentum it had recently gained.

Even though the luxurious Laguna Beach Homes prices are sky high, it is still one of the most preferred destinations in the US. Believe it or not, six of the ten most searched homes in the Orange County are located in the Laguna Beach and that is perhaps the only hope for the city’s sluggish real estate market which is just swinging like a pendulum for many days now and has just not traveled a distance on the road to revival. Homes in Laguna Beach took up the second, third, sixth, seventh, ninth, and tenth spots. The most expensive home on the list is 640 Alta Vista Way with the price tag of $ 1.499 million. The 4 bedroom and 5 bathrooms home is located in the Laguna Village community.

Sluggishness in the real estate market is obvious in the premium Laguna Beach Real Estate and the drop is also typical for this time of the year, however, active inventory has been falling uncharacteristically since March which is of some concern.

For more information regarding Laguna Beach Realty, Laguna Beach Homes, Laguna Beach Real Estate and Laguna Beach Brokers etc., visit: http://www.lagunaoc.com

View all articles by Andy Williams

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