Our Recent Posts

Tags

Laguna Beach Real Estate January 2017 Sales Report (Word)

Laguna Beach Real Estate

January 2017 Sales Report

Boyd Roberts

Gallery Real Estate

YouTube: “Laguna Beach Boyd Roberts January 2017”

949-463-9152

January’s Action: Median closed sales started out the new year by plunging $425,000 to under $1.6M. It looks like Laguna Beach real estate prices might be in for a bit of a ride in 2017.

As I projected last month that pipeline of lower priced pending deals did close in January. I, fully expect that this is just a blip and not a long-term trend. Why? The median price of pending deals relative to recent sales is way up. In fact, in the last 30 days, it has swung up over $800,000!

Drilling down into the numbers: 82% of January’s sales reduced their price. The average price reduction was $392,000 or 10%, off from the original listing price.

Another glaring statistic: current sellers want over $1.3M more for their homes than recent buyers were willing to pay. Call it the “spread.” It runs between $.8M to the current $1.3M. Its existence might mean that Laguna is overpriced, but don’t forget that last year we went to a record high with buyers focused solely on the lower end.

My take: February and March are looking good. Long term trends – despite our poor start, political uncertainty, and chronic overpricing – appear in tack. 2017 will, likely, be a record year.

Call, Text, or email me to receive this monthly report

ACTIVEs (As of February 1, 2017)

Total 163 Listings

Median Price $ 2,895,000

Median DOM 114 Days

Median Price per Square Foot $ 1,184

PENDINGs/Under Contract (P/U) (As of February 3, 2017)

Total 46 Listings

Median Price $ 1,995,000

Median DOM 123 Days

Median Price per Square Foot $ 959

SOLDs (January, 2016)

Total 29 Closings

Total Requiring a Price Reduction 24 Closings

% of Closings at a Reduced Price 82%

Average Price Reduction $ 392,182

Average Price Reduction as a % 10 %

Median Price $ 1,575,000

Median DOM 55 Days

Median Price per Square Foot $ 930

Total Supply of Actives at this Rate of Sales 5.62 Months

Difference Between Active Median Price and P/U Median Price + $ 900,000

Difference Between Active Median Price and Sold Median Price + $ 1,320,000

Difference Between P/U Median Price and Sold Median Price + $ 420,000

More SOLDs (Most Recent 3 Full Months: 11/1/2016 – 1/31/2017)

Total 86 Closings

Total Requiring a Price Reduction 73 Closings

Median Price $ 1,850,000

Median DOM 88 Days

Median Price per Square Foot $ 945

Total Supply of Actives at this Rate of Sales 5.68 Months

More SOLD Median Price History (Full Calendar Months)

Month/Year Median Price # of Sales

Last 6 Full Months $1,815,000 173

(8/1/2016 – 1/31/2017)

Last 12 Full Months $1,810,000 371

(2/1/2016-1/31/2017)

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

2016 $1,800,000 370

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.: February 1, 2017 (active data) and February 3, 2017 (all other data). This information is for your personal, non-commercial use and may not be used for any other purpose. Pending/Under Contract prices are not necessarily the contract price, likely, they are the last active price before going into contract.

Boyd Roberts 949-463-9152 Boyd.GalleryRE@gmail.com

Copyright 2017. All Rights Reserved. BRE #01354788

©2020 | Laguna Gallery Real Estate | Boyd Roberts | California Broker's License 01354788