Costa Mesa Real Estate Market Extends Downward Trend in Home Prices

The Costa Mesa market slowed with a 2.8% sales drop in this week's report. However, overall sales numbers for the last 30 days remained above the monthly average (61.8) with 69 homes sold. Within the same time frame, Irvine had 231 sales, the most of all cities in the area. The median sales price dropped to $724,000, extending a four-week long spiral. Despite the falling prices, a relatively low three months of inventory indicates that Costa Mesa is still a seller's market.

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Demographic facts for Costa Mesa:

  • There are 5.2% vacant homes here.
  • This area usually gets 274 sunny days each year. (U.S. average: 205)
  • For every librarian there are 5,950 students in this area. (803 = national average)

Data reported through 10/12/2016

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