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Laguna Beach Real Estate April 2017 Sales Report (Word version)

Laguna Beach Real Estate

April 2017 Sales Report

Boyd Roberts

Gallery Real Estate 949-463-9152

YouTube: “Laguna Beach Boyd Roberts April 2017”

Laguna Beach median prices closed out April just under $2,000,000. Year to date we are at $1,930,000. If that holds 2017 will be another year for the record books.

Buyers should know that there is more to the Laguna than rising prices. In my view, it is a buyer’s market. Consider the following data points: sellers want almost $700,000 more than recent buyers were willing to pay; 77% of all April closings required a price reduction; the average price reduction was 8.8%; the median days on market almost doubled in April; the median price per square foot in April was down almost 21%; and the total supply of homes relative to sales was up by 50%. Of course, one month does not make a trend.

Going forward, current pending deals point to a $150,000 drop over the near term. No guarantees. Keep me in mind if you need a knowledge broker to you negotiate this market.

ACTIVEs (As of May 1, 2017)

Total 216 Listings

Median Price $ 2,695,000

Median DOM 59 Days

Median Price per Square Foot $ 1,191

PENDINGs/Under Contract (P/U) (As of May 2, 2017)

Total 66 Listings

Median Price $ 1,849,000

Median DOM 61 Days

Median Price per Square Foot $ 939

SOLDs (April 2017)

Total 26 Closings

Total Requiring a Price Reduction 20 Closings

% of Closings at a Reduced Price 77%

Average Price Reduction $ 245,307

Average Price Reduction as a % 8.8 %

Median Price $ 1,998,000

Median DOM 101 Days

Median Price per Square Foot $ 963

Total Supply of Actives at this Rate of Sales 8.3 Months

Difference Between Active Median Price and P/U Median Price + $ 846,000

Difference Between Active Median Price and Sold Median Price + $ 697,000

Difference Between P/U Median Price and Sold Median Price - $ 149,000

More SOLDs (Most Recent 3 Full Calendar Months: 2/1/2016 – 4/30/2017)

Total 87 Closings

Total Requiring a Price Reduction 71 Closings

Median Price $ 1,998,000

Median DOM 79 Days

Median Price per Square Foot $ 943

Total Supply of Actives at this Rate of Sales 7.44 Months

More SOLD Median Price History (Full Calendar Months/Years)

Month/Year Median Price # of Sales

Last 6 Full Months $1,915,350 172

(11/1/2016 – 4/30/2017)

Last 12 Full Months $1,837,500 370

(5/1/2016-4/30/2017)

Year Median Price # of Sales Year Median Price # of Sales

2000 $ 665,000 562 2009 $1,185,000 274

2001 $ 775,000 437 2010 $1,200,000 334

2002 $ 785,000 527 2011 $1,100,000 329

2003 $ 971,000 542 2012 $1,250,000 435

2004 $1,275,000 514 2013 $1,525,000 422

2005 $1,505,000 428 2014 $1,785,000 411

2006 $1,625,000 322 2015 $1,700,000 384

2007 $1,629,000 281 2016 $1,800,000 370

2008 $1,535,000 204 2017 (YTD) $1,929,500 124

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.: May 1, 2017 (active data) and May 2, 2017 (pending data) May 5, 2017 (YTD). 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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