The Coto de Caza real estate market may be approaching it’s seasonal slow down.  The number of active listing has jumped to 105 from the mid eighties where it has been for most of the first part of the year.  Additionally, price reductions have become the new norm.  Of the 101 homes sold since the first of the year, all but 22 had price reductions before going in to escrow.  Of these 101 closed sales, the lowest priced home was a 1350 square foot condo on Oak Knoll which sold for $399,000.  The highest priced sale year to date was for an 8600 square foot home which was located on a 2 acre lot which closed at $7,500,000.  Of the 105 active listings, the least expensive home is a condo on Avenida La Caza which is priced at $480,000 and the highest priced home measures 9000 square feet, sits on 6.5 acres and is offered at $10,750,000.  There are an additional 35 homes in escrow.  Mortgage rates fell slightly last week.  The thirty year fixed went from 3.85% to 3.84% and the 15 year dropped to 3.05%.  If you are considering the sale or purchase of a home in Coto de Caza or any of the surrounding communities including Dove Canyon, Robinson Ranch, Rancho Santa Margarita, Ladera Ranch, Wagon Wheel Canyon, Las Flores or any where else in Orange County California, please give us a call.

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