Laguna Beach Real Estate February 2017 Sales Report (Word)

March 16, 2017

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

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