Laguna Beach Oceanfront Homes Start At $1 Million

The housing bubble hasn’t affected pricing in Laguna Beach homes, at least not on the oceanfront. The cheapest home one can find on the Laguna Beach coast costs $1.3 million and comes with HOA dues of over $1,000 a month, based on listings last week.

In a list of 14 homes complied by the O.C. Register’s Kelli Hart, the least expensive home is a two-bedroom apartment on Coast Highway with a direct view of the Pacific. It offers 1,200 square feet of floor space and is on the market for $1.299 million.

The priciest home on the list is going for $6.2 million, a four-bedroom single-family home with 2,500 square feet of living space on a 3,800-square foot lot. Located on Circle Drive, it features modern architecture and unobstructed ocean views.

Most of these oceanfront “bargains” are also among the most expensive non-rental apartments and condos in Laguna Beach, proving that oceanfront living comes at a premium for luxury home buyers.

Further inland, a small Laguna Beach condo can cost less than $300,000, but these may not offer many amenities, often don’t have ocean views, and are likely to be fixer-uppers. Single-family homes typically start at $500,000, according to Trulia.com listings.

Foreclosures and short sales are also great ways to find cheap Laguna Beach oceanfront homes, according to experts. A single-family home can go for an average of 15% below market value when sold as a distressed property.

Laguna Beach is known to have some of the priciest homes in Orange County, and even Southern California. Median prices are currently at $1.5 million, several times the O.C. median of about $450,000, despite a 2.2% drop over the month.

 

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