Costa Mesa Real Estate: The Cost of the Costa

According to Charles Mansur, the market of Costa Mesa has been "heating up." According to Charles Mansur's March 13th real estate reports, new listings that arrived in February only numbered 65 and the average list price was $711,349, which was actually down from January. "Under contract" properties fell in at 70 homes with an average list price at $624,927, which is up from $38,041.

When it comes to closed properties, these numbered 178 homes at an average price of $627, 543-a $10,147 increase from January closed prices. The February average sales price is up by $85,898 since this time last year. According to Jim Dwyer, inventory is on the rise, which may soften prices some. Still, there is a predicted increase of 12%-15% in 2005 by most real estate professionals.

Tom Abercrombie reports that Costa Mesa residential prices have declined from the summers highs. Even so, Abercrombie claims that Costa Mesa is still regarded as a popular family neighborhood. Costa Mesa lies between popular Huntington Beach and Newport Beach. There is a distinction in Costa Mesa when it comes to the Eastside versus the Westside. The Eastside of Costa Mesa borders popular and luxurious Newport Beach. The Eastside is described by Abercrombie as experiencing a \"mini-boom,\" while the Westside is \"undergoing redevelopment.\"

Right now, the market in Costa Mesa seems to be figuring itself out, however the market definitely looks like it could see a Seller's Market on the way.