DANA POINT, CA
Trading reached its peak in the 1830s and 1840s. In 1818, Argentine sailor Hippolyte de Bouchard anchored there while conducting his raid on the mission. Richard Henry Dana then visited the area in 1835 while serving aboard the sailing brig Pilgrim on her voyage along the California coastline.1
In 1923, Los Angeles Times publisher Harry Chandler and General M. H. Sherman, director of the Pacific Electric Railway Company, created a major real estate group to develop what is known today as the Hollywood Hills. Sidney H. Woodruff, already a prominent Los Angeles homebuilder, was hired to lead the project.
In 1926, Woodruff, Chandler, and Sherman created the Dana Point Syndicate. They invited other investors, company presidents, movie producers, and real estate investors to join them in purchasing 1,388 acres (5.6 km2) of land, some of which includes the “Headlands” of today. Promising tree-lined and paved streets, electricity, telephones, sidewalks, water mains, storm drains, sewers, and other amenities, Woodruff built 35 homes and a number of commercial buildings. This was the beginning of what was to become one of orange county’s crown jewels.
Today the city has a population of 33,473. As of 2020, the average household income is $99,409, making it one of the wealthiest cities in America. Dana Point is a decidedly white-collar city, with 87% of the workforce employed in white-collar jobs, well above the national average. Interestingly, Dana Point is also a city of artists. Over 50% of Dana Point residents are college graduates. Dana Point has more artists, designers and people working in media than 90% of the communities in America. This concentration of artists helps shape Dana Point’s character. Dana Point has one of the most impressive boat and yacht marinas in California. A mega project to revitalize the harbor and marina is underway. The project is expected to cost $330 million USD and when completed will be the most prestigious harbor and marina in California. Some great photos of Dana Point CA can be found at: https://www.shutterstock.com/search/dana+point+california
Dana Point real estate also is some of the most expensive in all of America. Single-family detached homes are the single most common housing type in Dana Point, accounting for 53.33% of the city’s housing units. Other types of housing that are prevalent in Dana Point include large apartment complexes or high-rise apartments (16.98%), duplexes, homes converted to apartments or other small apartment buildings (14.76%), and a few row houses and other attached homes (13.71%).2
In the last 10 years, Dana Point has experienced some of the highest home appreciation rates of any community in the nation. Dana Point real estate appreciated 61.56% over the last ten years, which is an average annual home appreciation rate of 4.91%, putting Dana Point in the top 20% nationally for real estate appreciation.3 In 2020, the average home spent 59 days on the market before being sold, and homes sold on average for only 1.5% less than asking price.4
Looking ahead, we believe Dana Point real estate will continue to be a sound investment. The strong demand for homes continues to outpace supply. The revitalization of many areas in Dana Point will revive media and tourism attention on it. The relatively low number of developable vacant lots in Dana Point ensures the low volume of new homes coming to market, thus allowing for the demand to continue to circulate around existing homes. If you are interested in learning more about Dana Point properties or visiting our multiple properties in this beautiful city please reach out to us at [email protected].