Nestled along the pristine coastline, Laguna Beach’s housing market is as inviting as its sandy shores. This article delves into the nuances of home prices, supply and demand dynamics, property taxes, and demographic data that shape this exclusive market. With a backdrop of art galleries, world-class beaches, and an undeniably luxurious lifestyle, Laguna Beach stands out as a premier location, and understanding its housing market requires a detailed examination of the factors that influence property values and investment potential.
Table of Contents
Laguna Beach Housing Market Data
1. Median Home Price
This section analyzes Laguna Beach, 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 Beach’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 Beach.
- Current Sales Prices of Laguna Beach Homes
The table below presents the typical sales prices for homes in Laguna Beach, showing a median price of $2,800,000 overall. While single-family homes are at the premium end with a median cost of $3,227,500, townhouses and condos are more moderately priced at $1,850,000 and $1,499,500, respectively. These options can accommodate a variety of buyer budgets in the real estate market.
| Property Type | Laguna Beach Median Home Sales Price |
| All Properties | $2,800,000 |
| – Single-Family Home | $3,227,500 |
| – Townhouse | $1,850,000 |
| – Condominium | $1,499,500 |
All data is from the California Regional Multiple Listing Service, INC. InfoSparks © 2024 ShowingTime.
- Laguna Beach Home Sales Prices Over Time
The charts below depict an elevated median home sales price in Laguna Beach compared to the rest of Orange County. Single-family homes in Laguna Beach have experienced substantial growth, while the prices for condominiums and townhouses have remained relatively more affordable. This indicates a robust and sustained demand for detached homes in the area, with diverse housing options accommodating various preferences and budgets.
- Current Home Sales Prices – Laguna Beach vs. Other Orange County Cities
Laguna Beach has the second highest median home sales prices among Orange County cities, indicating its position within the premium real estate market.
2. Supply and Demand – Laguna Beach Housing Market
This section provides a comprehensive look at the supply and demand dynamics within Laguna Beach’s housing market. It outlines the total housing stock, active listings, recent sales, current inventory level, and 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 Beach’s real estate activities.
- Key Housing Market Indicators – Laguna Beach
In Laguna Beach, an average of 144 homes have been actively listed for sale each month. Over the same period, only 22 homes have been sold, suggesting a selective market with a relatively high inventory supply of 6.8 months. Additionally, homes in Laguna Beach tend to stay on the market for an average of 36 days before receiving an offer, which reflects a more relaxed pace for the housing market in this area compared to regions with quicker sales turnover.
| Total Homes in Laguna Beach | ~13,000 |
| Active Home Listings | 144 |
| Homes Sold | 22 |
| Inventory – Months Supply | 6.8 |
| Days on Market | 36 |
Total Homes in Laguna Beach: 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 Beach.
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 when a home in Laguna Beach is listed and when an offer is accepted in a given month.
- Laguna Beach Active Listings vs. Homes Sold Over Time
The chart illustrates a significant gap between active listings and homes sold in Laguna Beach, with active listings consistently outstripping the number of completed sales. This gap suggests a market where buyers may have more options and leverage, and sellers might experience longer wait times before closing a deal. The persistence of this gap indicates a surplus of inventory relative to demand within the Laguna Beach housing market.
- Current Days on Market – Laguna Beach vs. Other Orange County Cities
Homes in Laguna Beach tend to stay on the market longer than other Orange County cities, with a median number of days noticeably higher than most. This suggests that while there is interest in the region’s real estate, transactions may involve more deliberation or a smaller pool of buyers at the higher end of the market.
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 help you understand, consider the property tax bill example 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 Beach, 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 Beach Home Size and Value
In Laguna Beach, the median home size is approximately 1,850 square feet, and the price per square foot stands at $1,511. The data positions Laguna Beach among the top in Orange County for both median home size and price per square foot, reflecting a premium real estate market. Homes here tend to offer more space and come at a higher cost per square foot compared to the majority of other cities in the county, indicating a market characterized by luxury properties and high-value real estate.
| Median Home Size | ~1,850 ft2 |
| Price per Square Foot | $1,511 |
All data is from the California Regional Multiple Listing Service, INC. InfoSparks © 2024 ShowingTime.
Laguna Beach Residents Data
1. Population
Exploring the dynamics of Laguna Beach’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 Beach in relation to other parts of Orange County.
- Laguna Beach Population Statistics
Laguna Beach has a population of around 22,166 and a moderate density of 2,493 residents per square mile, indicating a comfortably populated coastal community. However, it should be noted that Laguna Beach is a trendy tourist destination. So, despite the low population and population density, the area can draw a crowd throughout the year.
| Population | 22,166 |
| Population Density (Residents per square mile) | 2,493 |
- Population Density – Laguna Beach vs. Other Orange County Cities
Laguna Beach, with its light shade on the map, indicates one of the lowest population densities compared to other Orange County cities. This suggests that Laguna Beach offers a less crowded living environment, if you exclude the tourist hotspots along the main strip, potentially providing more space and privacy for its residents within the bustling county.
2. Employment Industries and Median Income
Exploring Laguna Beach’s economic landscape reveals the key employment sectors underpinning the local job market and the median household income, which reflect the community’s overall financial health. A deeper understanding of these factors helps frame Laguna Beach’s economic position within the broader context of Orange County.
- Laguna Beach Industries and Employment Breakdown
The employment landscape in Laguna Beach is dominated by Professional, Scientific, and Technical Services, which account for 21.4% of the workforce. Education Services, along with Health Care & Social Assistance, are also significant, with 9.55% and 9.1%, respectively. Manufacturing and Retail Trade round out the key industries, reflecting the city’s diverse economy.
- Laguna Beach Median Household Income and Employment Rate
In Laguna Beach, the median household income is $141,875, which places it among the higher echelons in Orange County, while the employment rate is 56.50%. The data indicates a community with considerable affluence, paired with a moderate employment rate when considering the working-age population.
| Median Household Income | $141,875 |
| Employment Rate | 56.50% |
(ages 16 and over) that is employed, excluding those not seeking employment, such as retirees and students.
Source: US Census Bureau
3. Laguna Beach City Attractions
Laguna Beach, California, is a renowned coastal city famous for its stunning beaches, vibrant arts scene, and picturesque landscapes. Here are some of the main attractions:
- Main Beach: The iconic center of Laguna Beach, known for its boardwalk, volleyball courts, and tide pools, offering a classic beach experience.
- Heisler Park: Offers breathtaking ocean views, walking trails, and sculptural installations, making it a favorite spot for both locals and visitors.
- Pageant of the Masters: An annual festival famous for its “living pictures” performances, where real people pose to recreate classical and contemporary artworks.
- Laguna Art Museum: Dedicated to Californian art, it showcases works that highlight the state’s history and cultural heritage.
- Crystal Cove State Park: A large park with miles of hiking trails, sandy beaches, and historic beach cottages, providing a glimpse into California’s coastal past.
- Laguna Coast Wilderness Park: Offers extensive trails through coastal canyons, native wilderness, and provides opportunities for mountain biking and hiking.
- Sawdust Art Festival: An annual summer festival where artists set up booths in a eucalyptus grove to sell their creations, from jewelry to glasswork.
- 1,000 Steps Beach: Known for its secluded location and large, steep staircase leading to the beach, offering a more private beach experience.
- Pacific Marine Mammal Center: A rehabilitation center for marine mammals, offering educational exhibits and the chance to learn about sea lions and seals.
- Laguna Playhouse: One of the oldest continuously operating playhouses on the West Coast, providing a wide range of performances and educational programming.
Laguna Beach captivates with its natural beauty, commitment to the arts, and community-oriented spirit, making it a unique gem along the Southern California coast.
Conclusion
The Laguna Beach housing market is a complex tapestry, reflective of its high-end lifestyle and desirability as a coastal paradise. The analysis provided here offers a glimpse into a market characterized by premium pricing and a community with a solid economic underpinning. With its diverse range of properties, from sprawling single-family homes to chic condos and townhouses, Laguna Beach caters to discerning buyers who value both the luxury of space and the richness of the coastal living experience. Whether for investment or residence, Laguna Beach’s real estate remains a beacon of exclusivity and charm in Orange County.
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