Originally no more than a way station built by Spanish missionaries, Costa Mesa’s first real estate development occurred in the 1880s. This failed to prosper, but Costa Mesa
Long time residents may remember when the area was called Fairview and Paularino, but today, the city is a focal point in Orange County with the Orange County Performing Arts Center, South Coast Repertory Theatre and South Coast Plaza as major drawing points. It is hard to believe that Costa Mesa was once nicknamed “Goat Hill” because of its rural flavor.
The modern day Costa Mesa real estate market began as beach bungalows just minutes from the ocean. Even then, Costa Mesa, bordering Newport Beach, captured the best of Newport Beach living at a fraction of the cost. While Costa Mesa may be more affordable than comparable homes in Newport Beach or Corona Del Mar, this is a relative matter as all of Orange County real estate is perceived to be some of the most desirable in the United States.
The market report for Costa Mesa is below:
Based upon general definitions, it appears that Costa Mesa Real Estate should still be in a Sellers’ Market based on the level of inventory, many still seem to believe we are in a Buyers’ market. However, I am starting to see more inventory in the last few weeks, which is moving Costa Mesa more toward a stable market rather than a buyers’ or sellers’ market. Given all that is going on in the credit market and the banking industry, we are in an unusual time and will have to see what happens over the next few months as things hopefully begin to stabilize.
Market reports for other local areas:
Click Orange County homes for sale to view all OC homes for sale. Copyright © 2010 by Christine Donovan, All Rights Reserved. Costa Mesa Real Estate News- Costa Mesa Market Report.