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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

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