Laguna Beach Real Estate March 2017 Sales Report (Word)

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

 

Copyright 2017.  All Rights Reserved.  BRE #01354788

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