Laguna Beach Real Estate
March 2017 Sales Report
Boyd Roberts
Gallery Real Estate 949-463-9152
YouTube: “Laguna Beach Boyd Roberts March 2017”
March Market Action. Laguna Beach real estate was quite impressive in March. Median prices rose $170,000 to an even $2,100,000. The median price per square was up almost $200 a square foot.
What I am looking at. Even with prices going up, buyers are still in control, but less so. 83% of March closings required a price reduction. The average price was reduced 600,000 or just over 9%. Most significantly the spread between what sellers want and what buyers will pay has imploded by over $720,000 just since January!
My Take. Prices are likely to be stable or down in the immediate future. The median price of currently pending deals points to a $200,000 drop. No guarantees.
ACTIVEs (As of April 1, 2017)
Total 199 Listings
Median Price $ 2,699,000
Median DOM 58 Days
Median Price per Square Foot $ 1,195
PENDINGs/Under Contract (P/U) (As of April 8, 2017)
Total 60 Listings
Median Price $ 1,899,000
Median DOM 68 Days
Median Price per Square Foot $ 970
SOLDs (March 2017)
Total 36 Closings
Total Requiring a Price Reduction 30 Closings
% of Closings at a Reduced Price 83%
Average Price Reduction $ 600,433
Average Price Reduction as a % 9.1 %
Median Price $ 2,100,000
Median DOM 64 Days
Median Price per Square Foot $ 1,218
Total Supply of Actives at this Rate of Sales 5.53 Months
Difference Between Active Median Price and P/U Median Price + $ 800,000
Difference Between Active Median Price and Sold Median Price + $ 599,000
Difference Between P/U Median Price and Sold Median Price - $ 201,000
More SOLDs (Most Recent 3 Full Calendar Months: 1/1/2016 – 3/31/2017)
Total 90 Closings
Total Requiring a Price Reduction 72 Closings
Median Price $ 1,899,888
Median DOM 64 Days
Median Price per Square Foot $ 1,031
Total Supply of Actives at this Rate of Sales 6.63 Months
More SOLD Median Price History (Full Calendar Months/Years)
Month/Year Median Price # of Sales
Last 6 Full Months $1,900,000 176
(10/1/2016 – 3/31/2017)
Last 12 Full Months $1,815,000 373
(4/1/2016-3/31/2017)
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 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.: April 1, 2017 (active data) and April 8, 2017 (pending 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
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