Real Estate Stats for Laguna Niguel

Real estate inventory in Laguna Niguel is still low. The reason is that many homes are selling quickly and in escrow and there are fewer distressed properties coming to market. Today there are only 189 active listings of all prices on the market in Laguna Niguel.

Here is the breakdown for detached homes. There are three homes that arem more than $5 million that are waiting for your offer. The average price per square foot is $839.

There are 14 homes for sale between $2 million and $5 million and the average price per square foot is $503. There are 35 homes available between $1 million and $2 million and they are averaging $392 per square foot. Now to the most active range, there are 85 detached homes active on the market under $1 million at the moment. The average price per square foot for these homes is $307 per square foot.

What about SOLD detached home statistics? There have been 241 homes sold and closed so far this year under $1 million. The average price per square foot on these sold homes is $282 and they were on the market an average of 112 days. That last statistic is now different because many are selling in a week or less if they are desirable. The market has been shifting the last six months.

I am often asked by my real estate buyers: 'How low should I offer?' This is a loaded question and has no right answer. This is where having an experienced Realtor will make you money and get you a home. You must know the market, run the comps, ask the listing agent how much activity there has been, check the other available competition and take the advice of your Realtor. Sometimes the answer will be “offer low” and sometimes, the answer will be, “offer over list.” The experienced Realtor is not greedy; he or she is merely trying to help you get what you want.

I have been tracking statistics in Laguna Niguel for more than 10 years and there is a very interesting stat the keeps coming up no matter what the market conditions. The sold price is always three percent or less below the current list price. Here is what it means: Some sellers may be too aggressive and list their home too high. If you offer 10 percent less the answer will usually be “No” because the mentality or motivation of the seller is not in place. When the motivation of the seller increases and he lowers the price closer to the real market price then his property will sell. For those homes that have sold this year, of all types, the average percent of sold to list price is 97.7 percent. So the closed price is averaging 2.2 percent under the list price at the time of sale.  If the home is priced under the market then it sells for more than list price. Real estate buyers determine the market.  Happy 4th!