When thinking about California, images of beautiful people, amazing beaches, and sparkling blue waters immediately come to mind. While not all cities in the Golden State can live up to these impressive expectations, the coastal communities of Orange County definitely fit the bill. With ideal location and unbeatable amenities, the O.C. has experienced consistently high home demand in previous years. Let’s take a look at various trends among a number of cities in the Orange County Coastal Real Estate Market:
San Clemente – The “Spanish Village by the Sea” sits at the southern tip of the county, possessing unbeatable ocean views from the city’s numerous hills.
Currently:
- Median Home Price – $810,000
- Median Rent – $3,793
- Average Price per Square Foot – $438
In the past year:
The average price per square foot increased from $410 to $438
The median home price decreased from $829,500 to $810,000.
San Clemente Guide
Dana Point – Slightly north along the coast, sitting midway between Los Angeles and San Diego, the quaint city has some of the best surfing around to compliment the shops and restaurants of the Dana Point Harbor.
Currently:
- Median Home Price – $890,000
- Median Rent – $4,200
- Average Price Per Square Foot – $530
In the past year:
The average price per square foot increased from $512 to $530
The median home price increased from $810,000 to $890,000.
BCRE
Laguna Beach – This seaside resort community is perhaps the most well-known coastal Orange County coastal city. The picturesque coves, vibrant artist district, and diverse marine life make Laguna Beach one of the most popular tourist destinations in California.
Currently:
- Median Home Price – $1,662,000
- Median Rent – $6,500
- Average Price Per Square Foot – $1,147
In the past year:
The average price per square foot increased from $917 to $1,147
The median home price decreased from $1,527,500 to $1,662,000.
Vacation Idea
Newport Beach – Home to an extremely affluent population, Newport Beach boasts a number of incredible amenities to complement its enviable location in Central Orange County. Residents and tourists alike can enjoy the outstanding year-round weather while surfing, boating, biking, camping, fishing, and so much more.
Currently:
- Median Home Price – $1,575,000
- Median Rent – $5,200
- Average Price Per Square Foot – $795
In the past year:
The average price per square foot increased from $728 to $795
The median home price decreased from $1,500,000 to $1,575,000.
Surf City USA
Huntington Beach – The most populous city in Orange County has rightfully earned the nickname “Surf City” by providing some of the best surfing in the country along its 9.5 mile stretch of sandy beaches.
Currently:
- Median Home Price – $710,000
- Median Rent – $3,495
- Average Price Per Square Foot – $453
In the past year:
The average price per square foot increased from $427 to $453
The median home price increased from $697,500 to $710,000.
Surf City USA
Seal Beach – The northernmost Orange County coastal city is also one of the most affordable, with the second lowest average price per square foot.
Currently:
- Median Home Price – $865,000
- Median Rent – $3,700
- Average Price Per Square Foot – $441
In the past year:
The average price per square foot increased from $422 to $441
The median home price increased from $762,750 to $865,000.
Each of the Orange County coastal cities saw an increase in the past year in price per square foot. All of the coastal cities also experienced an increased in median home price (of sold homes) over the past year, with the exception of San Clemente, which saw a slight decrease. Overall, value in the Orange County coastal cities continues to grow.
About the Author
Megan Campbell is a Realtor Associate at Class Realty Group in Orange County. She can be reached by email at mcampbell@classrealtygroup.com or by phone at 949-943-9011.
*Market Data Provided by Trulia.com
