September 2021 A Broker’s Video Take on the Laguna Beach Real Estate Market

Laguna Beach Real Estate Magazine September 2021  Edition #74

Laguna Beach Real Estate Chart of the Month | Sold Median Yearly 1999 to 2021

Laguna Beach real estate broker, Boyd Roberts gives his take on the September 2021 Laguna Beach real estate market:

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Laguna’s Surge Resumes. This is Boyd Roberts, broker, of Laguna Gallery Real Estate with my take on the September Laguna Beach real estate market. As I predicted last month, median Laguna Beach prices did rally, but it was not pretty. The sold median was up $145,000 and finished at $2.737M – the second highest print ever. The pending and active medians finished at their highest levels ever. The median price reduction, however, more than tripled. Lagunians sold at near record highs, but only after their original price expectations were tempered.

Laguna’s listing crisis worsened. As of October 2nd, the number of active listings plunged to 99, a 70% reduction since August 2019 and a 55% reduction since August 2020. Simultaneously, the 12-month number of closings has soared to 579, a 70% increase since August 2019 and a 50% increase since August 2020. With 50 closings for the month, the supply of homes came in at 1.98 months, an 81% collapse since August 2019 and a 47% implosion since August 2020. Until these supply and demand fundamentals change expect prices to rise further.

Not coincidentally, both of my proprietary short-term price indicators – the Spread Indicator and the Pending Indicator – are now forecasting higher prices for October.

Call me to take full advantage of this market. Have an excellent October and thank you for joining me.

Laguna Beach Real Estate Magazine September 2021, Edition 75 | Boyd Roberts Publisher

Laguna's Surge Resumes  |  Listing Crisis Worsens | Further Gains in Forecast

As I predicted last month,   median Laguna Beach prices did  rally, but it was not pretty.  The sold median was up $145,000 and finished at $2,737,000 – the second highest print ever.  The active and pending medians   finished at their highest levels ever $4,490,000 and $2,995,000,   respectively.  The median price reduction, however, more than tripled from $45,000 to $150,000.  Lagunians sold at near record highs, but only  after they tempered their original price expectations. 

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The listing crisis worsened.  As of October 2nd, the number of active listings plunged to 99, a 70% reduction since August 2019 and a 55% reduction since August 2020.  Simultaneously, the 12-month number of closings has soared to 579, a 70% increase since August 2019 and a 50% increase since August 2020.  With 50 closings for the month, the September supply of homes came in at 1.9 months, an 81% collapse since August 2019 and a 47% implosion since August 2020.  Until these trends change,    expect higher prices.

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Not coincidentally, both of my proprietary short-term price indicators – the Spread Indicator and the Pending Indicator – are now forecasting higher prices for October.

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Call me at 949-463-9152.

Laguna Beach Real Estate Chart | Sold Median Yearly 1999 to 2021 Raw Data

Year Median Price 

1999 $         555,000

2000 $         685,000

2001 $         785,000

2002 $         800,000

2003 $         985,000

2004 $      1,289,000

2005 $      1,525,000

2006 $      1,700,000

2007 $      1,660,000

2008 $      1,675,000

2009 $      1,185,000

2010 $      1,200,000

2011 $      1,090,000

2012 $      1,250,000

2013 $      1,525,000

2014 $      1,785,000

2015 $      1,700,000

2016 $      1,800,000

2017 $      1,810,000

2018 $      1,835,000

2019 $      1,895,000

2020 $      2,000,000

         2021 $      2,572,000 YTD