Costa Mesa Real Estate News – Costa Mesa Market Report
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 has thrived.
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:
Per general definitions, it appears based upon the number of Costa Mesa Homes for sale and the Costa Mesa homes that are selling, Costa Mesa is experiencing a Sellers’ Market based on the level of inventory. However, many still seem to believe we are in a Buyers’ market. Current inventory is up slightly from 12 months ago, about 15%. Despite this increase in homes for sale, the absorption rate (the amount of time it would take to sell all homes currently on the market) is almost the same as it was a year ago.
Please call me at 714-319-9751 for more information about buying or selling Costa Mesa homes.
Market reports for additional areas of Costa Mesa and nearby cities:
See below for HOMES CURRENTLY FOR SALE IN COSTA MESA.
Click Orange County homes for sale to view all OC homes for sale. Copyright © 2011 by Christine Donovan, All Rights Reserved. Costa Mesa Real Estate News- Costa Mesa Market Report.
For more information about buying and selling Costa Mesa homes, please contact Christine Donovan at 714.319.9751. Originally published at Costa Mesa Homes.