May, 2017 Laguna Beach Real Estate Sales Report (Word Version)

June 12, 2017

Laguna Beach Real Estate

 

May 2017 Sales Report

 

Boyd Roberts       

 

Gallery Real Estate         949-463-9152

 

YouTube: “Laguna Beach Boyd Roberts May 2017”

 

As predicted, median prices were down almost $100,000 to an even $1.9M in May.  Pending deals – currently at just under $1.6M – point to a further drop, soon.   

 

Buyers should know Laguna is overpriced, but negotiable.  May buyers payed $1M less than current sellers are asking (I call this difference the spread).  78% of all of May’s closings did lower their price.  The average price reduction was 5.4%.  Keep me in mind if you need a knowledge broker to you negotiate this market.

 

Sellers should know that Laguna is in a long term up trend.  2016 at $1.8M was a record year.  Year to date, we are at $1.925M.  The spread – again, the difference between what buyers will pay and what sellers want -- is chronic and is very bullish.  It means that we keep going to record highs with buyer’s buying the lower priced properties.  Inventory at just over 5 and ½ months is certainly not excessive.  I keep saying it, I think these puppies are going way up – no guarantees.

Call me before July 4th, mention this report and I will list your home for 4%.  Out of that 4%, I pay the other agent 2.5%.  Call me for details.

 

ACTIVEs (As of June 1, 2017)

 

Total                                                                                                               235 Listings

Median Price                                                                                                             $ 2,900,000

Median DOM                                                                                                 62 Days

Median Price per Square Foot                                                                    $ 1,178

 

PENDINGs/Under Contract (P/U) (As of June 3, 2017)

 

            Total                                                                                                               48 Listings

            Median Price                                                                                                 $ 1,595,000

            Median DOM                                                                                                82 Days

            Median Price per Square Foot                                                                    $ 930

 

SOLDs (May 2017)  

 

            Total                                                                                                               42 Closings

            Total Requiring a Price Reduction                                                             33 Closings

            % of Closings at a Reduced Price                                                               78%

            Average Price Reduction                                                                             $ 191,253

            Average Price Reduction as a %                                                                 5.4 %

            Median Price                                                                                                 $ 1,900,000

            Median DOM                                                                                                21 Days

            Median Price per Square Foot                                                                    $ 887

 

Total Supply of Actives at this Rate of Sales                                                          5.59 Months

Difference Between Active Median Price and P/U Median Price                                    + $  1,305,000

Difference Between Active Median Price and Sold Median Price                       + $  1,000,000 

Difference Between P/U Median Price and Sold Median Price                           -  $     305,000

 

Most Recent 3 Full Calendar Months:  3/1/2016 – 5/31/2017)   

 

            Total                                                                                                               105 Closings

            Total Requiring a Price Reduction                                                             82 Closings

            Median Price                                                                                                 $ 1,959,000

            Median DOM                                                                                                 56 Days

            Median Price per Square Foot                                                                    $ 995

            Total Supply of Actives at this Rate of Sales                                              6.71 Months

 

Most Recent 6 Full Calendar Months (12/1/2016 – 5/31/2017):    $1,929,500 Median with 188 Sales

 

Most Recent 12 Full Calendar Months (6/1/2016 – 5/31/2017):    $1,825,000 Median with 378 Sales

 

               

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)    $1,925,000      166

           

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.:  June 1, 2017 (active data) and June 3, 2017 (pending data and 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

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