The Laguna Niguel housing market stands as a testament to refined living within the bustling heart of Orange County. This article delves into the nuances of home pricing across various property types and gauges how the Laguna Niguel market compares with neighboring cities. Through a detailed assessment of recent sales data and price trends, this article aims to give potential buyers the critical insights necessary to navigate this unique and upscale real estate landscape confidently and clearly.
Table of Contents
Laguna Niguel Housing Market Data
1. Median Home Price
This section analyzes Laguna Niguel, California’s housing market by detailing current home prices and breaking them down by property type. It outlines the general trend of higher pricing for single-family homes compared to townhouses and condos. Additionally, it includes a comparison of Laguna Niguel’s home prices with those in other Orange County cities, allowing for a broader understanding of its market position. The data will equip prospective buyers with valuable insights for making informed purchasing decisions in Laguna Niguel.
- Current Sales Prices of Laguna Niguel Homes
The table below presents the typical sales prices for homes in Laguna Niguel, showing a median price of $1,240,000 overall. While single-family homes are at the higher end, with a median cost of $1,549,000, townhouses and condos are more moderately priced at $904,900 and $695,000, respectively. These options can accommodate a variety of buyer budgets in the real estate market.
| Property Type | Laguna Niguel Median Home Sales Price |
| All Properties | $1,240,000 |
| – Single-Family Home | $1,549,000 |
| – Townhouse | $904,900 |
| – Condominium | $695,000 |
All data is from the California Regional Multiple Listing Service, INC. InfoSparks © 2024 ShowingTime.
- Laguna Niguel Home Sales Prices Over Time
The charts below depict a rise in Laguna Niguel’s median home sales prices over the past three years, consistently outpacing the broader Orange County market. Different property types show varying upward trends, with single-family homes experiencing the most growth.
- Current Home Sales Prices – Laguna Niguel vs. Other Orange County Cities
The median home sales price in Laguna Niguel is higher than a majority of other Orange County cities, indicating its position as one of the more premium real estate markets.
2. Supply and Demand – Laguna Niguel Housing Market
This section provides a comprehensive look at the supply and demand dynamics within Laguna Niguel’s housing market. It outlines the total housing stock, active listings, recent sales, and the current inventory level, in addition to how quickly homes are selling. A snapshot of these indicators helps illustrate the market’s fluidity and efficiency, providing prospective buyers with a clearer understanding of the pace and health of Laguna Niguel’s real estate activities.
- Key Housing Market Indicators – Laguna Niguel
With a current monthly average of 101 active home listings and 52 monthly homes sold, Laguna Niguel’s real estate scene is moderately active. It offers a relatively low inventory with a housing supply of two months and a swift average sale time of just 12 days.
| Total Homes in Laguna Niguel | ~27,300 |
| Active Home Listings | 101 |
| Homes Sold | 52 |
| Inventory – Months Supply | 2.0 |
| Days on Market | 12 |
Total Homes in Laguna Niguel: This refers to the approximate number of residential properties within the city.
Active Home Listings: The number of homes currently listed for sale in Laguna Niguel.
Homes Sold: A count of the actual sales that have closed in a given month. Calculations are based on sold data.
Inventory – Months Supply: The inventory of homes for sale at the end of a given month, divided by the average monthly Pending Sales from the last 12 months. Also known as absorption rate.
Days on Market: The average number of days between listing a home in Laguna Niguel and accepting an offer in a given month.
- Laguna Niguel Active Listings vs. Homes Sold Over Time
Laguna Niguel saw a marked decrease in active home listings compared to early 2021. However, the number of active listings and homes sold have both leveled off recently, indicating a steadying though less active market compared to the peaks seen previously.
- Current Days on Market – Laguna Niguel vs. Other Orange County Cities
Homes in Laguna Niguel tend to remain on the market slightly longer than those in most other Orange County cities, yet they still sell fairly quickly, showcasing the city’s robust real estate demand within a competitive national context.
3. Property Taxes
Property taxes in California are determined by a combination of state law and county-specific regulations. Under Proposition 13, enacted in 1978, the base tax rate for properties is fixed at 1% of the assessed value. This assessed value is initially pegged to the purchase price and can only increase by a maximum of 2% annually, safeguarding homeowners from steep tax hikes when property values escalate quickly.
Orange County follows this state framework but also applies additional levies that can vary significantly between locations within the county. These can include voter-approved debt rates for city and district improvements, and direct assessments for community services like flood control and street lighting. Also, properties in areas with Mello-Roos districts may incur additional taxes for community facilities.
To aid in understanding, consider the example of a property tax bill below. It breaks down the individual components that constitute the total tax obligation. Notably, while the General Tax Levy remains constant at 1%, the aggregate of additional charges, such as special district assessments, significantly affects the overall tax bill. These variations emphasize the importance of due diligence in comprehending the full scope of property taxes when assessing the cost of homeownership in different parts of Orange County.
4. Median Home Size
This section examines the median home size and price per square foot in Laguna Niguel, essential indicators for assessing property value and space. These metrics aid prospective buyers in comparing market value and understanding what their budget can secure in terms of home size, especially in relation to other areas in Orange County.
- Laguna Niguel Home Size and Value
Homes in Laguna Niguel boast a larger median size compared to most other cities in Orange County, with sold properties typically around 1,820 square feet. Additionally, Laguna Niguel’s price per square foot is slightly above average for Orange County at $681, indicating a market with both spacious homes and a higher value placed on property space.
| Median Home Size | ~1,820 ft2 |
| Price per Square Foot | $681 |
All data is from the California Regional Multiple Listing Service, INC. InfoSparks © 2024 ShowingTime.
Laguna Niguel Residents Data
1. Population
Exploring the dynamics of Laguna Niguel’s population and its density offers a glimpse into the city’s living conditions and community structure. Population density, which measures the number of residents per square mile, sheds light on how closely people live together and can indicate the balance between urban development and available living space. Understanding this helps explain how population concentration impacts the social fabric, infrastructure, and lifestyle of residents in Laguna Niguel in relation to other parts of Orange County.
- Laguna Niguel Population Statistics
Laguna Niguel has a population of around 63,258 and a moderate density of 4,291 residents per square mile, indicating a comfortably populated coastal community.
| Population | 63,258 |
| Population Density (Residents per square mile) | 4,291 |
- Population Density – Laguna Niguel vs. Other Orange County Cities
Laguna Niguel, with its lighter shade on the map, indicates a lower population density compared to central Orange County cities like Santa Ana and Garden Grove. This suggests that Laguna Niguel offers a less crowded living environment, potentially providing more space and privacy for its residents within the bustling county.
2. Employment Industries and Median Income
Exploring the economic landscape of Laguna Niguel reveals the key employment sectors underpinning the local job market and the median household income, reflecting the community’s overall financial health. A deeper understanding of these factors helps frame Laguna Niguel’s economic position within the wider context of Orange County.
- Laguna Niguel Industries and Employment Breakdown
The most prominent employment sectors in the area are Professional, Scientific, & Technical Services, Health Care & Social Assistance, and Finance & Insurance, suggesting a labor force that is heavily involved in specialized professional services, health-related fields, and consumer sales.
- Laguna Niguel Median Household Income and Employment Rate
Laguna Niguel boasts one of the higher median household incomes within Orange County, reflecting the area’s economic affluence. The employment rate is slightly above the county average at a comfortable 62,40%.
| Median Household Income | $135,822 |
| Employment Rate | 62.40% |
(ages 16 and over) that is employed, excluding those not seeking employment, such as retirees and students.
Source: US Census Bureau
3. Laguna Niguel City Attractions
Laguna Niguel, California, is a scenic city known for its abundant parks, open spaces, and community-oriented atmosphere. Here are some of the main attractions:
- Laguna Niguel Regional Park: A large park featuring a lake that’s popular for fishing, picnicking areas, and tennis courts, offering a serene environment for outdoor activities.
- Aliso & Wood Canyons Wilderness Park: Provides extensive hiking, biking, and equestrian trails through stunning landscapes, connecting to Laguna Beach.
- Crown Valley Community Park: The heart of the city’s recreational activities, with sports fields, an amphitheater, and a community pool.
- Niguel Botanical Preserve: A hidden gem offering a collection of plants from around the world, set in a beautiful outdoor setting for leisurely walks and education.
- Club at Rancho Niguel: A private recreational facility with tennis courts, swimming pools, and a gym, serving as a social hub for the community.
- Laguna Niguel Skate & Soccer Park: A dedicated space for soccer and skateboarding enthusiasts, featuring a skate park and soccer fields.
- Sea Country Senior and Community Center: Offers a wide range of programs, activities, and events for seniors and residents of all ages.
- Badlands Park: Offers hiking trails with breathtaking ocean views, particularly stunning at sunset.
- Salt Creek Beach Park: Though technically in Dana Point, it’s a popular destination for Laguna Niguel residents, known for its surfing spots and beautiful sandy beach.
- Bear Brand Park: A family-friendly park with playgrounds, a basketball court, and expansive green spaces, ideal for picnics and outdoor fun.
Laguna Niguel is celebrated for its commitment to preserving natural beauty while providing a high quality of life for its residents through well-maintained parks and community facilities.
Conclusion
The data and trends unveiled in this Laguna Niguel’s housing market examination paint a picture of a city that exudes exclusivity and economic vibrancy. Laguna Niguel distinguishes itself as a premier residential enclave from its commanding home prices to the sustained demand seen in property sales. Whether you’re drawn to the allure of its spacious homes or the tranquility of its low-density living, the market data underscores the city’s position as a pinnacle of desirability in Orange County. For those looking to call Laguna Niguel home, the market indicators we’ve discussed offer a promising glimpse into a community where luxury and lifestyle converge.
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