Laguna Niguel continues to be a strong seller’s market as of June 2024, with high demand driving up prices and facilitating quick sales. Here’s a detailed look at the latest market trends and statistics:

Market Overview

Seller's Market: Laguna Niguel is characterized as a seller's market, meaning that home prices are typically higher and properties tend to sell faster.

Median Home Price: The median price for homes sold in Laguna Niguel in June 2024 was $1,301,766, marking an 8.5% increase from the previous year.

Price per Square Foot: The median price per square foot in June 2024 was $710.

Home Prices by Bedroom Type

1 Bedroom Homes: Prices increased by 3.1% compared to the previous year.

2 Bedroom Homes: Prices increased by 11.4%.

3 Bedroom Homes: Prices increased by 2.5%.

4 Bedroom Homes: Prices increased by 13.1%.

5+ Bedroom Homes: Prices increased by 16.7%.

Inventory and Sales Activity

Homes for Sale: There were 218 homes for sale in June 2024, representing a 4.8% increase from May 2024.

Sales and Pending Sales: A total of 69 homes were sold or pending sale in June 2024, a 21.1% increase from the previous month.

Sales Price Analysis

Below Asking Price: 39% of homes were sold below the asking price.

At Asking Price: 19% of homes were sold at the asking price.

Above Asking Price: 42% of homes were sold above the asking price.

Time on Market

Average Days on Market: Homes in Laguna Niguel averaged 22 days on the market in June 2024, an increase of 61% from last year.

Speed of Sales:

77% of homes were sold within 30 days.

20% of homes were sold within 30 to 90 days.

3% of homes were sold after being on the market for over 90 days.

Summary

The Laguna Niguel real estate market remains highly favorable for sellers, with rising home prices and relatively quick sales. Despite an increase in the number of homes on the market, demand continues to drive competition and prices upward. A significant percentage of homes sold above the asking price indicates a strong market with eager buyers.

Stay tuned for future updates and detailed analyses of the Laguna Niguel real estate market.