If you were thinking about buying real estate in Orange County, one thing is for sure. You'll find that home values are on the way up. That is good news for home owners who hope to sell in the current market conditions, but for buyers it means paying significantly more. And, in fact, areas like Laguna Beach are seeing an incredible amount of home value growth. If you are thinking about buying a home here, it's important for you to know what you can expect.Laguna Beach Sunset View | Image Provided by CRMLSThe Laguna Beach Market Has BuyersThere are more people interested in buying homes in Laguna Beach now than there have been. An increasing demand for high-quality homes is good news for both buyers and sellers as it means new opportunities exist for home values to grow. As of the end of 2016, the median selling price for a home in Laguna Beach was $1.753 million. When you consider the same homes in 2008, you would pay about $1.5 million. That is also a significant gain of nearly 17 percent. Additionally, the average price per square foot in Laguna Beach at the end of 2016 was about $1100, while median rent was about $5,000/month. Of course, the sale prices for homes in Orange County are up overall. Across the county, the median sale price for a home was $640,000. That is a significant 42 percent up from the same time in 2008. Of course, it is important to look at the whole picture, which simply shows that this area is in high demand. For those considering an investment in some form of Laguna Beach real estate, it is important to work with a local market expert. In a competitive market like this, working with an agent whether buying or selling can be very important to achieving your specific goals. A market with high demand and low inventory means you need to act quickly when your dream homes come on the market. Contact Neal Prochoren today to discuss the various properties currently available to you in Laguna Beach.
