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
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