Laguna Beach Real Estate Market Update
February 2011 vs. February 2010
Posted on March 22, 2011 by Glen Gunner.
Sales of Laguna Beach real estate for the month ended February 2011 increased 56% as compared to the same period prior year with a total of 56 Laguna Beach homes and Laguna Beach condos sold. The average sales price for Laguna Beach real estate as of February 2011 year-to-date was $1.45 million as compared to $2.08 million prior year, a 30% decrease. However, the average price per square foot sold decreased only 11% to $691 meaning that cheaper properties are clearing the market. The average days on market for Laguna Beach properties was down 17% at the end of the month to 134, still above what historically has indicated a stable market. As the economy recovers, people return to spending money on luxury goods, and jumbo financing loosens up, Laguna Beach real estate should continue to see a solid recovery.
