Laguna Beach Real Estate June 2017 Sales Report (Word)

Laguna Beach Real Estate

 

June 2017 Sales Report

 

Boyd Roberts       

 

Gallery Real Estate         949-463-9152

 

YouTube: “Laguna Beach Boyd Roberts June 2017”

 

The bad news:  median prices, as predicted, plunged $311,250 in June to $1,588,750.  80% of all closings reduced their price.  The average reduction was 6.3%.  Glaring, is the $1,310,250 “spread” between what current sellers want for their homes and what June buyers actually paid.       

 

In the short term:  prices likely will be stable.  Pending deals at $1,595,000, point sideways.

 

The good news:  year to date Laguna median prices, at $1,895,000, are still on track to make 2017 another year for the record books.  

 

A little more about that $1,310,250 “spread”.  It is chronic.  More or less, it is with us every month.  At first glance Laguna looks overpriced.  But doesn’t it simply mean that buyers are focused on the lower end?  Isn’t it bullish when a market continually goes to new all-time highs on this type of purchasing?  Certainly, if the opposite was true, if the market were rising on the strength of the higher priced homes, wouldn’t that be a cause for concern?  I could be wrong, but I think this market is going way up.  For sure you need an experienced broker to help you negotiate this market.  Call me today.

 

ACTIVEs (As of July 1, 2017)

 

Total                                                                                                               258 Listings

Median Price                                                                                                $ 2,899,000

Median DOM                                                                                                 68 Days

Median Price per Square Foot                                                                    $ 1,179

 

PENDINGs/Under Contract (P/U) (As of July 1, 2017)

 

            Total                                                                                                               46 Listings

            Median Price                                                                                                 $ 1,595,000

            Median DOM                                                                                                96 Days

            Median Price per Square Foot                                                                    $ 924

 

SOLDs (June 2017)  

 

            Total                                                                                                               36 Closings

            Total Requiring a Price Reduction                                                             29 Closings

            % of Closings at a Reduced Price                                                               80%

            Average Price Reduction                                                                             $ 149,578

            Average Price Reduction as a %                                                                 6.3 %

            Median Price                                                                                                 $ 1,588,750

            Median DOM                                                                                                51 Days

            Median Price per Square Foot                                                                    $ 1,011

 

Total Supply of Actives at this Rate of Sales                                                          7.16 Months

Difference Between Active Median Price and P/U Median Price                                    + $  1,304,000

Difference Between Active Median Price and Sold Median Price                       + $  1,310,250 

Difference Between P/U Median Price and Sold Median Price                           + $         6,250

 

Most Recent 3 Full Calendar Months:  4/1/2016 – 6/30/2017)   

 

            Total                                                                                                               106 Closings

            Total Requiring a Price Reduction                                                             82 Closings

            Median Price                                                                                                 $ 1,860,000

            Median DOM                                                                                                 49 Days

            Median Price per Square Foot                                                                    $ 961

            Total Supply of Actives at this Rate of Sales                                              7.3 Months

 

Most Recent 6 Full Calendar Months (1/1/2017 – 6/30/2017):       $1,895,000 Median     197 Sales

 

Most Recent 12 Full Calendar Months (7/1/2016 – 6/30/2017):    $1,837,500 Median     381 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)    $1,895,000      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.  Information pulled from California Regional Multiple Listing Service, Inc.  Active, pending/under contract, and YTD data as of July 1, 2017. 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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