Thursday, December 13, 2007

Stats Show Crash in Upper End Laguna Beach Housing

Average price per square foot is a good indicator of market trends. Per our good friends at Trulia.com, Laguna Beach is showing a -46.5% DECLINE in average price per square foot as compared to earlier in the year. It is an Orange county home sale!

Specifically, from August - November 2007, the average price per sq. ft. for a 4 bedroom house in Laguna Beach dropped to $647 from $1,210 in June-August of 2007. You can see the stats here.

Thud. Negative 46.5%. Huge decline. Huge trend. It's like the day the earth stood still for sellers in Laguna Beach. The houses I have been monitoring have shown this trend to be true. Of the 4 bedroom houses I've watched, none have sold, and some have been withdrawn from the market. With some analysts predicting a worse 2008, I wonder how low it could go! Orange county home prices show no sign of stopping their slide.

3 comments:

Anonymous said...

Just a few years ago, like in 2004, there were houses at Top of the World and Arch Beach heights in the $700k range. Yeah, not close to the ocean, but some had nice ocean views from up there. Anway, let's hope the bottom end of the Laguna market starts falling out soon, too.

Swim Mistress said...

How did you come up with these stats? Do you have access to the MLS? Just curious.

Mr. Blue said...

You can get these numbers at
http://www.trulia.com/real_estate/Laguna_Beach-California/

I think Trulia gets their data from Dataquick which is a reliable source.