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
Copyright 2017. All Rights Reserved. BRE #01354788