Sunday, April 10, 2011

Comp Check - North Laguna Modern Luxury - $601 Per Square Foot

Its often tough to sort through comparable sales data when you are trying to decide how much to offer on a home.  Here's something that could be of help - 535 Dunnegan Drive recently sold for $601 per square foot.  It is a high end, custom,  4 bedroom, 4000 square foot north Laguna Beach home - so it is a good benchmark.

You can see the entire listing for 535 Dunnegan here.

In the past month, it has become apparent that the high end market (over $1,000,000) in Laguna Beach is really dead.  This means values will continue to go down.  Look for the price per square foot to be in the $500's by summer - another 10% decline.  Buyers who overpay are really asking for huge losses.  Be careful out there.