Real Estate News About The South Orange County Coastal Communities of Laguna Beach, Dana Point, San Clemente, Newport Beach, Corona del Mar, Newport Coast.
We are continuing to observe high buyer demand and constrained selling inventory. Further information about 2021's forecasted market conditions are below.
Any real estate questions about your specific home or area? We are here to be of assistance! Happy New Year, from Amanda, Pamela & Jace
2021 REAL ESTATE FORECAST: BACK TO NORMAL
To say 2020 was a year of surprises would be an extreme understatement. What started off as a bright year for the housing market and the economy turned into a global pandemic and economic recession. The rebound has been sharp, but is by no means complete, and has created distinct winning and losing sectors in the economy. Read a more detailed analysis and overview of the 2021 economy written by Realtor.com Senior Analyst George Ratiu here.
One of the big winning sectors has been the housing market, which saw home sales and prices hit decade-plus highs following decade lows in the span of a few months. We expect the housing sector's winning streak to continue in 2021 as seasonal trends normalize and some of the frenzied momentum thanks to new affordability challenges. Below are Realtor.com's housing predictions for 2021:
Mortgage Rates - Average 3.2% throughout the year, 3.4% by end of year Existing Home Median Sales Price Appreciation - Up 5.7% Existing Home Sales - Up 7% Single-Family Housing Starts - Up 9% Homeownership Rate - 65.9%
CURRENTLY LISTED
Laguna Beach
885 La Mirada Lot - $599,000 25' x 100' Ocean View Buildable Lot LaMiradaLot.com
JUST SOLD
Laguna Beach
959 Santa Ana St - $1,650,000 3bd, 2 ba, 1,822sqft *Represented Sellers
SOLD IN 2020
MARKET STATISTICS
Laguna Beach - December 2020
Active - 139 (down 12%) Pending - 45 (down 20%) Sold in December - 43 (No change) Under $1,000,000 - 1 $1,000,000 - $2,000,000 - 19 $2,000,000 - $3,000,000 - 12 $3,000,000 - $5,000,000 - 10 $5,000,000 - $10,000,000 - 1
