Beach-close community averages 1 home sold per week

November 20th, 2009, 4:00 am · 6 Comments · posted by KELLI HART, THE ORANGE COUNTY REGISTER

Despite the crummy state of the market, one community has been faring pretty well as far as home sales go.

Since about the start of the year, Monarch Beach’s Niguel Shores community has seen 37 closed sales, which Monarch Bay Realty agent Joseph Smith says averages ‘about a home sold a week.’

And, most of these homes didn’t sit there terribly long - the average days on market period for these 37 sales is 78 days.

The homes sold ranged from $592,000 and $8 million, making the average sales price $1,387,000.

And, sales just started picking up in a season where people aren’t typically looking to buy a house. In October alone, five homes closed escrow in this neighborhood.

Perhaps the first time homebuyer tax credit and historically low interest rates had something to do with October’s sales, and winter won’t be gloomy as usual for real estate in this area.

Priciest home sold:

11 Breakers, $8 million

Cheapest home sold:

24122 Gourami Bay, $562,000

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TheJekyl says:

November 20, 2009 at 10:35 am

Location, location, location. Some sanity still exists - this is an excellent location in an excellent zip code.

November 20, 2009 at 10:37 am

Btw Kelli, are you actually up that early (4am) post an article?

Aaron Jackson says:

November 20, 2009 at 10:52 am

How long and How many bad reports before
we learn the lesson - We need to form opposable non violent
coalitions Using Obama’s own words that can
move policies for real… http://www.bailoutmainstreetnow.com this will take some hard work
but people have to start by adding positive contributions
so that we can effect real change.

trotter says:

November 20, 2009 at 11:56 am

i don’t know south county too well but dana point and laguna niguel are some of the most beautiful areas i’ve ever seen

Planet Reality says:

November 20, 2009 at 11:00 pm

Give me a break. How many ppl do you think with over 1 mil average are first time homebuyers? That logic is probably one of the stupidest statements I’ve heard on these blogs.

TH says:

November 21, 2009 at 7:30 am

We have been looking for the right beach location for almost two years. Niguel Shores is the perfect place: a gated community, beach access with private parking. A short walk to the beach, stores and the Ritz! And very low homeowner fees!

Well, We bought a home on the ocean side of PCH 6 weeks ago and we are thrilled!

City	ZIP	Price	Chg.	Sold	Chg.
DP	92624	$530,000	-36.9%	5	+66.7%
DP	92629	$525,000	-14.9%	24	-7.7%
SC	92672	$577,500	+4.1%	31	+47.6%
SC	92673	$650,000	-2.3%	39	+25.8%
SJC	92675	$267,000	+18.7%	31	-20.5%
O.C.	All	$430,000	11.50%	39	9%

Orange County Register