real estate investing

Monday, August 15, 2005

Latest Laguna Niguel Real Estate Market Statistics

Underlying Market Statistics reveal true market strength in Laguna Niguel. In order to access the true market strength for the Real Estate market in Laguna Niguel, you must look at recent closed sales data averages and the current Months of Inventory.  For the 2nd Quarter (May through June) of 2005, we had 201 homes sold with a Median price of $940,000 for detached homes in Laguna Niguel,  and an Average price of $1,071,729 with the average Price per Square Foot being $417.  The Median price is considered to be a more accurate representation of the typical home price for the Average statistic is often skewed to the high side by the sale of a couple of estate mansions in the $4Mil plus price ranges. The Average Days on Market (DOM) was 44 days, which is another useful market strength indicator. Finally, another statistic that gives us an indication of market strength is the Ratio of Sales Price to List Price Ratio which was 97% for the 2nd Quarter. The above data is based upon closed sales from May through June.  A more sensitive indicator that tells us today's real estate market health is the Months on Inventory indicator.  This is the number of months it would take to sell all of the homes currently on the market for sale, if no other home were added for sale.  The current Months of Inventory for Laguna Niguel is 2.5 months.  2-4 months is considered to be a sellers market.  For Attached Condos and Townhomes, the 2nd Quarter of this year resulted in 246 Condos sold with a Median Home price was $495,000 and Average of $525,514.  The average Sale Price per Square Foot was $430, and the average Days on market (DOM) was 36 days. Finally, the Sales Price to List Price Ratio was 98% for the 2nd Quarter.  As can be seen the market for attached Condos was a bit stronger than that for detached homes. This may seem counter intuitive at first, but simply points out the fact that there is a stronger demand for lower priced homes in Laguna Niguel regardless of whether the home is attached or detached. The current Months of Inventory for Condos in Laguna Niguel is 2.1 months, which again indicates a slightly stronger sellers market for Condos as compared to detached homes in Laguna Niguel.   In Summary, the Laguna Niguel Real Estate market is a strong sellers market, and has been so for several years now.  In other words, there are many more homebuyers looking for homes to buy than there are willing sellers.  Low un-employment, beach close beautiful neighborhoods, and year round temperate weather, makes Laguna Niguel Real Estate very desirable. If you would like to view Real Estate for Sale in the Laguna Niguel MLS, just visit our website below. See AlsoLaguna Niguel MLS Homes for SaleSearch the MLS, Photos, Maps, City Info and more. more...
Originally Posted on 8/15/2005 3:36:36 PMContent source:


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