Is South Coast, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, South Coast has remained a Seller's Market.
Key Takeaway
South Coast is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Coast, CA
How much do homes in South Coast, CA cost?
Median Sold Price
$1,158,858
$671/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in South Coast have sold for 9.3% more than they did a year ago.
Summary: The median home sold price in South Coast was $1,158,858 in May 2024, up 9.3% from last year, and the median price per square foot was $671.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $435K | $335K | -23.0% |
| 2 Bedrooms | $600K | $646.6K | +7.8% |
| 3 Bedrooms | $1.1M | $1.2M | +9.1% |
| 4 Bedrooms | $1.6M | $1.8M | +8.6% |
| 5+ Bedrooms | $2.4M | $2.5M | +5.9% |
Summary: South Coast housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 23%, 2 bedroom homes increased by 7.8%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes increased by 5.9%.
Median Sold Price Compared To Nearby Cities
| Laguna Woods | $377.2K | $415.2K | +10.1% |
| South Coast | $1.0M | $1.1M | +9.3% |
| Aliso Viejo | $841.2K | $900K | +7.0% |
| Laguna Beach | $2.8M | $2.9M | +3.6% |
| Laguna Hills | $1.0M | $1.0M | +0.9% |
Housing Supply in South Coast, CA
How many homes are available in South Coast, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1,308 | 1,322 | +1.1% |
Summary: The South Coast real estate market had 1,322 homes for sale in May 2024, a 1.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 56 | 48 | -14.3% |
| 2 Bedrooms | 407 | 431 | +5.9% |
| 3 Bedrooms | 371 | 370 | -0.3% |
| 4 Bedrooms | 306 | 305 | -0.3% |
| 5+ Bedrooms | 168 | 168 | 0.0% |
Summary: The South Coast housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 14.3%, 2 bedroom homes increased by 5.9%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes decreased by 0.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 332 | 329 | -0.9% |
Asking Price vs. Sold Price
128 Homes Were Sold
Under Asking
58 Homes Were Sold
At Asking
143 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Coast, you could pay more than the asking price. 43.5% of homes here sold above asking price last month.
Summary: A total of 329 homes were sold or pending in South Coast in May 2024, down by 0.9% month-over-month. Of the 329 sold homes, 39% were sold under asking, 18% were sold at asking, and 43% were sold over asking.
Days on Market for South Coast, CA
How long does it take to sell a home in South Coast, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 33 Days | 27 Days | -15.8% |
Summary: Homes in South Coast had an average of 27 days on market in May 2024, down by 15.8% compared to last year.
Breakdown of Home Sale Times
237 Homes Were Sold
Under 30 Days
70 Homes Were Sold
In 30 - 90 Days
22 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Coast are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 329 homes were sold in South Coast; 72% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.