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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

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