Wednesday, August 4, 2010

Median Laguna Beach Single Family Home Price Bounces Back in June

The June numbers are in and the median single family home price has improved from May. According to Dataquick, the median price for a single family home in Laguna Beach in June is $1,288,000 as compared to $985,000 in May. As compared to June 2009, the median price is up about 2%, which is flat. Summer is the big home selling season so more houses naturally sell at this time.

What does this mean? Some higher end homes in Laguna Beach are selling. But only some. Most of the homes I am tracking have not sold and the price reductions continue. It remains to be seen what happens after the summer selling season. The downward trend in the high end could continue, slowing sinking the value of the homes bought in the summer. Be careful if you are buying - factor this into any offers you make.

Real estate agents are, of course, welcome to comment in a meaningful fashion.

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