Laguna Beach Shows Best Year Change in South Coast

After spending months as Orange County's slowest real estate market, Laguna Beach is leading the South Coast area in a sales surge over the past month, triggering talks of a long-awaited market turnaround.

Of the five South Coast ZIP codes-located in Laguna Beach, Dana Point, and San Clemente-Laguna Beach 92651 posted the second highest year change in terms of sales, going up 70% from last year with a total of 34 homes sold.

The data is provided by DataQuick, a San Diego-based real estate company, using information gathered in the month ending October 22. DataQuick regularly keeps track of major markets and has been keeping tabs on Orange County real estate for years.

Laguna Beach also has the highest median price, a record it has held steadily for the past few years. Homes in Laguna Beach currently sell for about $1.07 million, well above the countywide median price of $435,000.

Two other South Coast ZIPs, San Clemente 92672 and 92673, posted sales gains in the same period. The former saw 39 sales and posted a 116.7% increase, while the latter sold 47 homes, a 2.2% increase from last year's figures.

Across the three cities, 153 homes were sold, a rise of 26% from a year ago. Only one, however, showed an increase in median price: San Clemente 92672, whose median of $560,000 is up by 3.8% from last year.

None of the ZIPs, however, fared better than the countywide increase of 4.8%. Throughout Orange County, home sales were counted at 3,082, an increase of 9.2% compared to this time in 2008.

 

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