Laguna Beach Real Estate August 2016 Sales Report (Word)

September 3, 2016

Laguna Beach Real Estate

 

August 2016 Sales Report

 

Boyd Roberts

 

Gallery Real Estate

 

Summary Take:  August’s market action was disappointing and the market remains highly overpriced.  Relative to July, the median price declined by over $200,000, the number of closed sales was down by over 20%.  The glaring statistic is that as of September 1st, current sellers wanted $1,100,000 more for their homes than August buyers were willing to pay.  To be clear the long term Laguna Beach price trend is very much intact.  The 12 month moving median price ended August at $1,765,000 – well above the 2015 median price of $1,700,000.  Likely, next month’s Take will be more positive: the median price of current deals in process is almost $400,000 higher than the median August closing price.

 

ACTIVEs (As of September 1, 2016)

 

Total                                                                                                               268 Listings

Median Price                                                                                                             $ 2,650,000

Median CDOM                                                                                             108 Days

Median Price per Square Foot                                                                    $ 1,118

 

PENDINGs/BACKUPSs (P/B) (As of September 3, 2016)

 

            Total                                                                                                               40 Listings

            Median Price                                                                                                 $1,939,900

            Median CDOM                                                                                             91 Days

            Median Price per Square Foot                                                                    $1,041

 

SOLDs (August, 2016)         

 

            Total                                                                                                               32 Closings

            Total Requiring a Price Reduction                                                             27 Closings

            % of Closings at a Reduced Price                                                               84%

            Average Price Reduction                                                                             $175,233

            Average Price Reduction as a %                                                                 5.39%

            Median Price                                                                                                 $1,550,000

            Median CDOM                                                                                             108 Days

            Median Price per Square Foot                                                                    $959

 

Total Supply of Actives at this Rate of Sales                                                          8.37 Months

Difference Between Active Median Price and P/B Median Price                                    +$710,100

Difference Between Active Median Price and Sold Median Price                       +$1,100,000

Difference Between P/B Median Price and Sold Median Price                            +$389,900

More SOLDs (Most Recent 3 Full Months:  (6/1/2016 – 8/31/2016)       

 

            Total                                                                                                               106 Closings

            Total Requiring a Price Reduction                                                             89 Closings

            Median Price                                                                                                 $1,620,000

            Median CDOM                                                                                             103 Days

            Median Price per Square Foot                                                                    $967

            Total Supply of Actives at this Rate of Sales                                              7.58 Months

 

More Median Price History (Full Calendar Months)

 

            Month/Year         Median Price                    # of Sales                 # of Sales @ a           % of Sales @ a        

Reduced Price         Reduced Price                        

                                                                                                                               

Last 6 Full Months    $1,750,000                  213                                         

  (3/1/2016 – 8/31/2016)

Last 12 Full Months  $1,765,000                  373                                         

  (9/1/2015 – 8/31/2016)

 

More Median Price History (Full Calendar Years)

 

            2000                $   665,000                  562

            2001                $   775,000                  437

            2002                $   785,000                  527

            2003                $   971,000                  542

            2004                $1,275,000                  514

            2005                $1,505,000                  428

            2006                $1,625,000                  322

            2007                $1,629,000                  281

            2008                $1, 535,000                  204

            2009                $1, 185,000                  274

            2010                $1, 200,000                  334

            2011                $1, 100,000                  329

            2012                $1,250,000                  435

            2013                $1,525,000                  422

            2014                $1,785,000                  411

            2015                $1,700,000                  384                  320                  83%

 

Boyd Roberts is solely responsible for all content/statements/opinions/and conclusions.  He is a licensed broker, CA BRE #01354788, and is not a professional statistician or an economist.  All data has been taken from sources deemed reliable, but is not guaranteed and may be subject to compilation errors, data source errors, and statistically invalid data sample sizes.  All statistics/statements/opinions are not guaranteed, nor are they a forecast of higher or lower prices.  Based on information from California Regional Multiple Listing Service, Inc.:  September 1, 2016 (active data) and September 3, 2016 (all other data). This information is for your personal, non-commercial use and may not be used for any purpose.  Pending/Backup prices are not necessarily the contract price, likely, they are the last active price before going into contract.  All days on market statistics are Combined Days On Market (CDOM).  CDOM is calculated by combining the active Days On Market (DOM) of listings separated by 90 days or less.

 

Boyd Roberts             949-463-9152              Boyd.GalleryRE@gmail.com

 

Copyright 2016.  All Rights Reserved.  BRE #01354788

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