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The Real Houses of Coto de Caza - April 2010 Market Update

Posted by Leslie Eskildsen on Thursday, April 15th, 2010 at 8:13pm.

This short video on the current Coto de Caza Real Estate Market will give you an update on how the three Coto home sales segments are moving.

The story on homes for sale in Coto de Caza is that there are really three segments of the market - homes priced under $1 Million, homes priced between $1 Million and $2 Million, and everything over $2,000,000.00. Let me break this down for you by each one of these specific segments.

Coto de Caza homes for Sale under $1,000,000.00

The homes in Coto de Caza prices under $1,000,000.00 are actually doing quite well in the current market. There are 44 homes in Coto today available for you to buy that are priced under $1,000,000.00 - ranging from a two bedroom two bath condo in Fairway Oaks yours for a mere $329,000.00 up to two homes listed for sale at $999,900 - one in Southern Hills Encore and one in Crooked Oak. When did you ever think you'd see a 4500 square foot 6 bedroom 4 bath home in Southern Hills Encore in Coto listed for under $1,000,000.00? Grab it while you can! And they are selling! Of the 24 currently in escrow in this price range - they cover the entire price range - from $329,000 in Fairway Oaks all the way up to $975,000 in Rancho Colinas. And don't forget the recent closed sales - 29 in the last three months! Ranging from - yes, you guessed it, a 2 bedroom 2 bath condo in Fairway Oaks up to a 5 bedroom 5 bath home in Rosewood. The fastest sale was a home in Summerfield - sold the same day it was listed - fire sale at $775,000.00. At the other end of the spectrum - took 308 days to get a Short Sale listing in Tiara sold for $975,000.00. But they started out by asking $1,475,000.00. And the market told them that was a little high. By a long shot.

Coto de Caza homes for Sale between $1,000,000.00 and $2,000,000.00

The mid-range homes for sale in Coto de Caza today are selling much more slowly than the lower priced part of the Coto Real Estate Market. With 43 active listings in this price range ranging from a 4 bedroom 5 bath 3400 square foot home in Crooked Oak listed at $1,050,000.00 to a 5 bedroom 6 bath 5800 square foot home in Oak Knoll listed for sale at $1,899,000.00, there's a little bit of somtheing for everyone here! And with only 7 in escrow and 17 sold in the last three months - these sellers will welcome your offer with open arms! The shortest time on the market in this price range was the 15 days it took to sell a $1.4K 5 bedroom 6 bath pool home on at 14,000 square foot lot in Oak Knoll - awesome! Stacked up agains the one on Panorama in the Pinnacle neighborhood that sold for $1,300,000.00 in over 400 days! Price on that one started at $1,699,000.00 and ended up as a Short Sale. Sign of the current economic times and the toll it has taken on the Coto Real Estate Market.

Coto de Caza homes for Sale over $2,000,000.00

The high end in Coto de Caza is asleep right now. Of the 38 homes listed for sale over $2,000,000.00 they have been on the market for an average of 148 days - one of these resolute sellers has been at it for almost two years! These homes represent what is truly unique about Coto de Caza - mostly custom homes, many zoned equestrian, many of those with ride-out access to the amazing trail system in Coto and out to the regional parks that surround the community and go all the way to Ortega Highway and beyond! There has never been a better time to buy a custom home on a multi-acre lot in Coto. Well, I guess except if you had bought the lot 40 years ago and built it yourself - but those days are long gone, right? Seriously, 13 custom equestrian estates in Los Ranchos are currently on the market - this is the time to go for it if you are in the market for a large custom compound in an exclusive Orange County neighborhood. Video of the horse trails to follow!