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Laguna Beach Real Estate September 2016 Sales Report (Word)

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

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