City Report: Local Home Prices Dropped to $650K in 2011

The city's annual community report card states that the average single family home price in Laguna Niguel dropped to $650,000 in 2011; $261,000 for condominiums

This indicator compares the annual median sales price for single family homes and condominiums in Laguna Niguel and Orange County.

Why is it important? "Home prices are influenced by many factors, including state and national economic trends, supply and demand,etc. Rising home prices suggest that buyers have positive perceptions about a city (i.e. good schools, low crime,quality parks and recreation programs, clean environment, excellent quality of life.)"

Declining home prices may reflect negative perceptions about community characteristics.

How is Laguna Niguel doing?

"Real estate prices rose rapidly in the late 1990s and early 2000s. In 2007, Laguna Niguel home prices dipped for the first time in a decade, mirroring similar trends in most regional housing markets throughout the state and nation." 

Source: Laguna Niguel Annual Community Report