Low inventory has been on the minds of anyone looking for the perfect home in Laguna Niguel this summer. It is hard enough to find a home you like, let alone your perfect home. Is it any wonder why the upgraded properties and “flips” go quickly?
Astonishingly the number of “attached” condos and townhomes is way down. There are 47 active attached homes in all of Laguna Niguel to look at and 46 closed in the last 30 days. That is equivalent to one month supply. That would qualify as a “sellers market.” In general, active home inventory for all homes is 40 percent less than in January.
If you are looking for a “detached” home there are 118 active in all price ranges. There are only 69 “detached” homes to choose from below $1 million. That is a shortage as well. Thirty-seven of those 118 are above $1.5 million and 13 of those are over $2.5 million. I would be happy to show those by the way.
I always say that Laguna Niguel is a wonderful place to live and some of those areas are truly spectacular. The largest and most expensive home for sale currently is 24,000 square feet and priced at $21 million. I have been in museums smaller than that. There are five homes above $2.5 million for sale in Bear Brand Ranch which boasts larger lots and ocean views. All those homes have lots larger than one-half acre and one has a three-acre lot. If you haven’t noticed, land is at a premium in our area.
Another area is Ocean Ranch which is guard-gated and currently has six custom homes over $2.5 million. There is one home over $2.5 million in Palmilla which is on Niguel Summit at the top end of Niguel Road, and there is one home over $2.5 million in the guard-gated community of Laguna Sur which is also on Niguel Summit above Monarch Pointe. Seven homes over $2.5 million have sold so far this year, which is about one per month. That means we have about one year’s worth of inventory at the high-end.
Have a great summer and dream on.