The number of oceanfront single-family detached homes in Laguna Beach has grown to 27, offering a selection of exclusive properties not seen in years. For most of 2008, there was very little available under the high $6M level. However, late in 2008 a couple of homes came on the market in the $4M-$6M, which are still on the market. Nearly three-fourths of the SFD oceanfront homes in Laguna Beach are priced above $8M and more than 40% are priced above $10M.
NUMBER OF ACTIVE LISTINGS OF SFD OCEANFRONT HOMES IN LAGUNA BEACH, BY PRICE RANGE
Price Range # of Properties
$4-$4.999M 2
$5-$5.999M 2
$6M-$7.999M 3
$8M-$9.999M 9
$10M-$12.999M 3
$15M-$37M 8
The table below shows all of the current active listings as of January 7, 2009.
Address Beds Baths Gar Sq Ft Yr Blt $Ms DOM
31895 Circle Dr 2 2/1 2 1,404 1933 $4.2 70
1285 Ocean Front 5 5/5 2 A 0 1955 $4.85 80
775 Gaviota Dr 6 5/5 2 0 1948 $5.975 96
1235 Ocean Front 4 4/4 2 1,000 1948 $5.999 163
31881 Circle Dr 3 4/3 2 2,470 1998 $6.995 215
109 S La Senda Dr 3 3/2 2 2,300 1949 $7.595 260
31515 Bluff Dr 2 2/2 2 A 2,200 1929 $7.595 47
1275 Ocean Front 4 3/3 2 A 0 197 $8.499 204
11 Camel Point 3 4/3 2 A 3,206 2008 $8.599 218
31889 Circle Dr 3 5/3 2 A 0 1960 $8.9 240
32181 Coast Hwy 4 4/4 2 A 4,634 1953 $8.995 279
31051 S Coast Hwy 3 4/3 2 A 3,100 1972 $9.45 61
990 Oceanfront 3 4/3 3 A 3,800 2009 $9.495 65
32007 Coast Hwy 8 5/4 2 0 1963 $9.5 162
31897 Circle Dr 4 5/4 2 A 2,559 2007 $9.99 518
4 Mar Vista Ln 4 4/4 2 A 3,150 2006 $9.995 184
1 Barranca Way 3 4/3 2 A 3,000 2007 $10.499 23
1163 Marine Dr 4 4/4 2 D 3,200 1970 $11.495 72
765 Gaviota Dr 5 7/5 4 A 4,200 2007 $12.995 98
31721 Seacliff Dr 4 6/5 2 A 4,806 1982 $15.5 7
1855 Ocean 5 6/5 3 D 5,100 1934 $15.9 30
178 Emerald Bay 5 5/3 2 A 4,900 1950 $16.5 197
171 Emerald Bay 5 10/6 4 A 12,400 2010 $19.5 138
111 S La Senda Dr 3 3/3 2 3,695 1949 $19.5 128
23 Shreve Dr 4 5/4 3 A 0 2006 $19.9 118
32 N La Senda Dr 4 4/3 2 A 5,144 1970 $23.5 124
106 Emerald Bay 5 6/5 2 5,900 2007 $36.9 27
Source: SoCal MLS.
SOLD LISTINGS OF OCEANFRONT SFD HOMES IN LAGUNA BEACH IN 2008
Six oceanfront single-family homes were sold in Laguna Beach in 2008. With the current active listings of oceanfront homes numbering 27, it would take about 54 months to sell the current inventory assuming the sales pace of 2008 continues into 2009 and beyond. These numbers would suggest that unless the demand increases due to factors other than price, many of these homes will not sell unless the prices decline to levels that will increase the demand.
Despite the expectation of lower prices for these homes in 2009, buyers can be wise to negotiate their purchase now — even if they expect prices to go down — if they are able effectively to communicate the actual market conditions and their implications for price. By encouraging sellers to get ahead of what appear to be virtually inevitable pricing trends, sellers can offer a more favorable price/value relationship than their competitors before the market ultimately moves to a lower price level. Sellers get their properties sold at a discount to current market, but without having to compete with 54 months of inventory at lower price levels in the future. Sellers who are motivated are then able to accomplish their goal of selling the property, and buyers are able to acquire some of the most desirable properties given the high inventory levels — and at an appropriate discount off current market prices. Pursuing these opportunities now can represent a win-win situation for buyers and sellers alike.
SOLD OCEANFRONT SFDs IN LAGUNA BEACH IN 2008
Address Beds Baths Gar Sq Ft Yr Blt $Ms DOM
2015 Ocean Way 3 3/ 2 A 2,677 1929 $7.0 91
1371 Circle Way 4 4/ 2 A 3,100 1946 $8.85 236
845 Cliff Dr 3 5/4 2 D 3,300 2000 $9.6 100
881 S Coast Hwy 5 5/4 4 4,000 1948 $9.5 132
3 Camel Point Dr 6 8/ 3 D 6,100 1995 $12.5 103
25 Bay Dr 4 5/4 2 A 7,000 2003 $NA 71
Source: SoCal MLS.
For more information, please contact me at 949-701-2000 or albierogers@firstteam.com.
