OC Coastal Real Estate Trends

Orange County house prices rose faster in 2013 than in any year since 2004, the biggest jump in 9 years, CoreLogic recently reported. But price appreciation rates appear to have moderated somewhat. Rising prices attracted more sellers, which appears to have had a moderating effect on prices in 2014. The real estate market in OC’s coastal communities (Corona del Mar, Dana Point, Laguna Beach, Newport Beach, Newport Coast) seems to be cooling slightly, but prices generally have not yet begun to drop, although about 20-30% of properties for sale have had price decreases.

Laguna Beach

Over several weeks, inventory of homes for sale has been fluctuating, decreasing one week and increasing another. More quality homes seem to be coming on the market. Days on the market also appear to be fluctuating, increasing slightly one week and trending lower another. Prices have been moving higher as demand trends continue upward. Bottomline, home prices are at an all-time high and it looks like prices will continue upward. The median house size for properties on the market is 3,000 sq. ft., with 3-4 bedrooms.

Dana Point

The market appears to be cooling, but list prices have either held steady or moved slightly upward. Average days on the market has been increasing. The asking price per sq. ft. is roughly half of Laguna Beach. The median house size is about 2500 sq. ft.

Corona del Mar

Inventory is up and market conditions weakening in recent weeks. New supply continues to exceed demand and prices seem to be moving downward slightly. The asking price per sq. ft. has been holding steady, and is the same as Laguna Beach. Days on market is lower than both Laguna Beach and Newport Beach.

Newport Beach

Prices stay at all time highs even though the market seems to be cooling. Days on the market is increasing. The asking price per sq. ft. is somewhat less than Corona del Mar, Laguna Beach and Newport Coast.

Newport Coast

Market conditions have been cooling for several weeks. Supply continues to exceed demand. But prices have not dropped; on the contrary, median prices have been moving higher. The median house size remain at about 5000 sq. ft. with 5 bedrooms.