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