This is a Coto de Caza real estate market update for Friday July 11.  There are presently 116 homes listed for sale in Coto with another 38 homes in escrow.  The least expensive home on the market is a condo in the Oak Knolls community that measures 1342 square feet and is priced at $365,000.  The most expensive home on the market is in the Los Ranchos Estates and sits on 2 acres.  It boasts 16,000 square feet of living space, a pool with pirate ship and is listed at $19,900,000.  A number of years ago, Kobe Bryant was rumored to be in escrow to purchase this home.  Since the first of the year, 119 homes have closed escrow in Coto.  The high closed sale was a 9,000 square foot home on Trigo Trail at $4,500,000 and the low was a 1489 square foot condo on Ironwood that sold for $420,000.  There have been 18 closed escrows in the last month.  Mortgage rates remain near all time lows for Coto de Caza home buyers.  The rate on the 30 year fixed stands at 4.12% down slightly from the week before and the rate on the fifteen year mortgage was unchanged at 3.22%  Both rates are slightly below the rates at this time last year.  If you are considering the sale or purchase of a home in Coto de Caza Dove Canyon, Rancho Santa Margarita, Ladera Ranch, Wagon Wheel Canyon, Las Flores or any of the surrounding South Orange County communities, please give us a call.

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