Laguna Beach Real Estate October 2016 Sales Report (Word)

November 3, 2016

Laguna Beach Real Estate

 

October 2016 Sales Report

 

Boyd Roberts       

 

Gallery Real Estate

 

YouTube:  Boyd Roberts Laguna Beach 2016

 

Summary Take:  Buyers in Laguna Beach should be aware that current sellers want over $1,000,000 more for their homes than October buyers were willing to pay.  That said although October median prices were up only modestly to $1.85M, once you drill down into the numbers the strength of this bull becomes apparent:  the three-month moving median price was up $50,000, the 6 month was up over $62,000, and 10 months into the current year, the 12-month moving median price at an even $1.8M if it was a full calendar year would represent a record-breaking year.  Projecting forward, with pending transactions $300,000 higher than October, November, likely, will the icing on the cake.

 

ACTIVEs (As of November 1, 2016)

 

Total                                                                                                               216 Listings

Median Price                                                                                                             $ 2,895,000

Median CDOM                                                                                             117 Days

Median Price per Square Foot                                                                    $ 1,171

 

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

 

            Total                                                                                                               52 Listings

            Median Price                                                                                                 $ 2,150,000

            Median CDOM                                                                                             89 Days

            Median Price per Square Foot                                                                    $ 903

 

SOLDs (October, 2016)       

 

            Total                                                                                                               30 Closings

            Total Requiring a Price Reduction                                                             24 Closings

            % of Closings at a Reduced Price                                                               80%

            Average Price Reduction                                                                             $ 136,058

            Average Price Reduction as a %                                                                 4.0 %

            Median Price                                                                                                 $ 1,850,000

            Median CDOM                                                                                             93 Days

            Median Price per Square Foot                                                                    $ 1,041

 

 

 

Total Supply of Actives at this Rate of Sales                                                          7.2 Months

Difference Between Active Median Price and P/B Median Price                                    + $ 745,000

Difference Between Active Median Price and Sold Median Price                       + $ 1,045,000

Difference Between P/B Median Price and Sold Median Price                            + $ 300,000

 

More SOLDs (Most Recent 3 Full Months:  (8/1/2016 – 10/31//2016)     

 

            Total                                                                                                               87 Closings

            Total Requiring a Price Reduction                                                             68 Closings

            Median Price                                                                                                 $ 1,800,000

            Median CDOM                                                                                             78 Days

            Median Price per Square Foot                                                                    $ 1,005

            Total Supply of Actives at this Rate of Sales                                              7.5 Months

 

More SOLDs Median Price History (Full Calendar Months)

 

            Month/Year         Median Price                    # of Sales                                

                               

Last 6 Full Months    $1,700,000                  197                                         

  (5/1/2016 – 10/31/2016)

Last 12 Full Months  $1,797,000                  363                                         

  (11/1/2015 – 10/31/2016)

 

More Median Price History (Full Calendar Years)

 

Year                       Median Price        # of Sales                            Year                       Median Price      # of Sales

 

2000                $   665,000        562                            2008                $1,535,000      204

2001                $   775,000        437                            2009                $1,185,000      274

2002                $   785,000        527                            2010                $1,200,000      334

2003                $   971,000        542                            2011                $1,100,000      329

2004                $1,275,000        514                            2012                $1,250,000      435

2005                $1,505,000        428                            2013                $1,525,000      422

2006                $1,625,000        322                            2014                $1,785,000      411

2007                $1,629,000        281                            2015                $1,700,000      384

           

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.:  November 1, 2016 (active data) and November 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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