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Laguna Beach Real Estate August 2016 Sales Report (Word)

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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