Laguna Beach Real Estate
February 2017 Sales Report
Boyd Roberts
Gallery Real Estate
YouTube: “Laguna Beach Boyd Roberts February 2017”
949-463-9152
February Price Surge. As predicted Laguna Beach prices surged back $355,000 to $1,930,000 in February. December’s median was an even $2,000,000 and January’s was $1,575,000.
Buyers are still in control: 76% of all February closings required a price reduction; the average price reduction was $680,000, or just over 11%. Recall last year’s market, buyers were very focused on the lower priced listings. The median price for closed deals typically runs $1,000,000 less than the median price for actively listed homes and we went to a record high.
Going forward, March and April, likely, will more stable. Current deals point to $1.9M over the short term. My view: it going up. No guarantees. Call, Text, or email me to receive this monthly report.
ACTIVEs (As of March 1, 2017)
Total 182 Listings
Median Price $ 2,795,000
Median DOM 92 Days
Median Price per Square Foot $ 1,186
PENDINGs/Under Contract (P/U) (As of March 4, 2017)
Total 58 Listings
Median Price $ 1,899,000
Median DOM 64 Days
Median Price per Square Foot $ 959
SOLDs (February 2017)
Total 25 Closings
Total Requiring a Price Reduction 19 Closings
% of Closings at a Reduced Price 76%
Average Price Reduction $ 680,000
Average Price Reduction as a % 11.1 %
Median Price $ 1,930,000
Median DOM 78 Days
Median Price per Square Foot $ 1,032
Total Supply of Actives at this Rate of Sales 7.28 Months
Difference Between Active Median Price and P/U Median Price + $ 896,000
Difference Between Active Median Price and Sold Median Price + $ 865,000
Difference Between P/U Median Price and Sold Median Price - $ 31,000
More SOLDs (Most Recent 3 Full Calendar Months: 12/1/2016 – 2/28/2017)
Total 82 Closings
Total Requiring a Price Reduction 71 Closings
Median Price $ 1,875,000
Median DOM 74 Days
Median Price per Square Foot $ 922
Total Supply of Actives at this Rate of Sales 6.66 Months
More SOLD Median Price History (Full Calendar Months)
Month/Year Median Price # of Sales
Last 6 Full Months $1,859,000 165
(9/1/2016 – 2/28/2017)
Last 12 Full Months $1,810,000 378
(3/1/2016-2/28/2017)
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.: March 1, 2017 (active data) and March 4, 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