I just received the condo sales report for Orange County for the month of September and the average Condo in Orange County is listed for $315,528 while the median list price is $299,000.  Just for comparison sake, the average condo in Laguna Woods Village is listed for under $200,000 – that is 1/3rd off what the “average” condo is listed for in Orange County.  I have always said that Laguna Woods Village was a bargain!

Also out this week was the sales report for September.  30 condos sold in Laguna Woods Village for an average purchase price of $240,000.  839 Condos sold in all of Orange County last month for a median  purchase price of $300,000.  Once again, Laguna Woods Village comes in almost 1/3rd less in price on the “buy” side than any other condo in Orange County.  BUT, prices are rising, especially the condos on the low end of the market.  Average days on market has gone down to 102 days, a little more than 3 months on the market for the average listing…  That is down from 150 average days on market 3 months ago.  So we are seeing a trend develop!  WE ARE AT THE BOTTOM OF THE MARKET RIGHT NOW.  I will put that in caps because I really believe it!  Inventory is going down and there is pent up demand to purchase – at least in Laguna Woods Village – remember, Real Estate is very local, and what is happening here might not be happening everywhere…  If you would like to purchase a home in Laguna Woods Village, call Patrick McNamee at 949-293-7814 or visit his web site at: www.leisureworldre.com