Are luxury home market values collapsing? | million, market, home, homes, price – CA
LAGUNA BEACH With the coastal Orange County luxury housing market seeing hefty price reductions and closed sales considerably lower than the original asking price, it seems as though the collapse of home values has finally hit the multimillion dollar home market.
A total of 291 homes priced at $1 million or higher in Laguna Beach, Newport Beach, San Clemente and Dana Point combined have seen price reductions in the last 30 days – several of those knocking home prices down by $1 million or more on high priced estates.