Laguna Beach Vacation Rentals Up Over Year

After a relatively busy home buying season, Laguna Beach is geared for another positive turn as demand for summer vacation rentals rose 17% compared to last year. As experts have noted in the past several months, tourist season may just be the city’s high point in terms of real estate in 2010.

The data was provided by HomeAway, a rental tracking and database company that follows statistics nationwide. The study also showed that local industry is well-prepared to accommodate tourists, with vacation rental listings going up 12% in the same period.

The rest of Orange County is also showing considerable promise in the vacation rental market. One of the most popular this year is Capistrano Beach, which saw demand rise by 46% on a year-over-year basis. Demand also went up 22% in Dana Point, 18% in Huntington Beach, and 1%in Balboa Island.

On the buying end, vacation homes are also on the rise both in Laguna Beach and around O.C. A recent survey by the National Association of Realtors (NAR) showed that sales for vacation homes went up 8% in the last twelve months, even with a 13% increase in average prices.

Laguna Beach has always been a prime vacation spot in Orange County, visited by tourists throughout and outside the U.S. Recent developments in the famous Montage Resort as well as some of the residential neighborhoods are believed to have influenced the rise in demand, and many think the ongoing work in neighboring cities like Newport Beach also played a role.

 

Earlier in Laguna Beach Real Estate News:
Charge Your Electric Car in Laguna Beach
More Luxury Homes Hit Laguna Beach Real Estate Market
Oldest House In Laguna Beach To Be Rehabbed