March 2016 Laguna Beach Real Estate A Broker’s Take Audio and Video Text
Two trends in the Laguna Beach real estate market were clear in March. One, prices have clearly broken out. Comparing March’s median price to the most recent 12 month median price, prices have appreciated by $485,000 to an all-time record high of $2,250,000.
Two, homes currently on the market are, despite this price gain, overpriced. There is quite a gap between what current sellers want for their homes and what buyers will pay. The difference between the median listing price as of April 1st and the March median closing price was $445,000. Said another way: after realizing price appreciation of close to half a million dollars, current sellers are marking up the price of their homes by another 19%. Interestingly, 90% of all homes that sold in March, sold for less than the list price.
It is a bull market for sure, but there is definitely some room for buyers to negotiate a better deal here in Laguna Beach.
Hello, my name is Boyd Roberts. I am an independent broker and can add tremendous value to your real estate purchase or sale. Call, text, or email me, today. Thank you very much.
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Created April 2016 at Heisler Park. Boyd Roberts is solely responsible for all content. All data/statements/opinions/conclusions are taken from sources deemed reliable (Laguna Beach Real Estate March 2016 Sales Report and the California Regional Multiple Listing Service, Inc.), but are not guaranteed, and are not a forecast of higher or lower prices. This information is for your personal, non-commercial use. Copyright 2016. All Rights Reserved.