What a year 2021 has been for real estate sales in the Laguna Beach area of Orange County, California. There were several reasons for the strong year that included record low interest rates, a low inventory of available homes on the market at any given time and the huge buyer demand for homes that started just months after the Covid stay at home order in March 2020. The Laguna Canyon area is still one of the best and most affordable places to find homes that are located within the city limits of Laguna Beach. This zip code is very much in high demand due to it's excellent schools and prestige of living in one of the most beautiful beach towns in Southern California.
The lowest priced sale this far in 2021 has been located in the Terraces community where a two bedroom condo sold for $622,800. The Terraces is located on the east side of the 73 freeway which splits through the Laguna Canyon. The location is a little challenging if you want to be close to the beach since this is an easy 10 to 15 minute drive or more to the beach depending on traffic. These homes are very popular due to it's attractive price points and historic charm which offer a Laguna Beach mailing address as well. The good news about this area is that over half of the sold properties in the Laguna Canyon area have sold for under $1 million dollars this year.
The most expensive sale took place on Sun Valley drive where a three bedroom detached single family home sold for the full asking price of $1,995,000. The property was located on a reported 1.5 acre of land and was a really unique compound located behind private gates. This type of sale is very rare since land value in Laguna Beach tends to be very expensive. It's interesting to note that none of the sales this year in the Laguna Canyon area this far have been over $2 million dollars. This is significant when homes in Laguna Beach can easily sell for over $20 million dollars or more. The Canyon is a great option if you don't mind a drive to the downtown area and the beach and prefer the privacy and relaxed setting that this area tends to offer.