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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