Costa Mesa Homes

Costa Mesa Real Estate Market Report

Originally no more than a way station built by Spanish missionaries, Costa Mesa’s first real estate development occurred in the 1880s. This failed to prosper, but Costa Mesa has flourished.

Long time residents may remember when the area was called Fairview and Paularino, but today, the city is a focal point in Orange County with the Orange County Performing Arts Center, South Coast Repertory Theatre and South Coast Plaza as major drawing points. It is hard to believe that Costa Mesa was once nicknamed “Goat Hill” because of its rural flavor.

Modern day Costa Mesa real homes began as beach bungalows just minutes from the ocean. Even then, Costa Mesa, bordering Newport Beach, captured the best of Newport Beach living at a fraction of the cost. While Costa Mesa may be more affordable than comparable homes in Newport Beach or Corona Del Mar, this is a relative matter as all of Orange County real estate is perceived to be some of the most desirable in the United States.

The market report for Costa Mesa homes is below:

Per general definitions, it appears based upon the number of Costa Mesa Homes for sale and the Costa Mesa homes that are selling, Costa Mesa is experiencing a Sellers’ Market based on the level of inventory. However, many still seem to believe we are in a Buyers’ market. Current inventory is up slightly from 12 months ago, about 15%. Despite this increase in homes for sale, the absorption rate (the amount of time it would take to sell all homes currently on the market) is almost the same as it was a year ago.