Laguna Beach Real Estate
September 2016 Sales Report
Boyd Roberts
Gallery Real Estate
Summary Take: As projected, Laguna Beach real estate prices rebounded strongly in September. The median closing price rose $275,000 to $1.825M. Not only did prices go up, but the CDOM was down 43% and the average price reduction was down 44%. Significantly, nine months into the calendar year, the 12 month moving median price was up over $30,000 and rests in all-time record high territory. This bull is not done. Next month, prices will likely higher – the median price of current deals in progress is over $350,000 higher than September. That said, Laguna is highly overpriced. As if these impressive prices were not enough, Laguna Beach sellers currently want $925,000 more for their homes than September buyers were willing to pay.
ACTIVEs (As of October 1, 2016)
Total 241 Listings
Median Price $ 2,750,000
Median CDOM 96 Days
Median Price per Square Foot $ 1,159
PENDINGs/BACKUPSs (P/B) (As of October 3, 2016)
Total 56 Listings
Median Price $ 2,189,000
Median CDOM 83 Days
Median Price per Square Foot $ 1,006
SOLDs (September, 2016)
Total 25 Closings
Total Requiring a Price Reduction 16 Closings
% of Closings at a Reduced Price 64%
Average Price Reduction $ 97,280
Average Price Reduction as a % 5.1%
Median Price $ 1,825,000
Median CDOM 61 Days
Median Price per Square Foot $ 1,117
Total Supply of Actives at this Rate of Sales 9.64 Months
Difference Between Active Median Price and P/B Median Price + $ 561,000
Difference Between Active Median Price and Sold Median Price + $ 925,000
Difference Between P/B Median Price and Sold Median Price + $ 364,000
More SOLDs (Most Recent 3 Full Months: (7/1/2016 – 9/30//2016)
Total 99 Closings
Total Requiring a Price Reduction 83 Closings
Median Price $ 1,750,000
Median CDOM 77 Days
Median Price per Square Foot $ 1,005
Total Supply of Actives at this Rate of Sales 7.3 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 $1,700,000 197
(4/1/2016 – 9/30/2016)
Last 12 Full Months $1,797,000 363
(10/1/2015 – 9/30/2016)
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.: October 1, 2016 (active data) and October 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