Laguna Beach Real Estate July 2017 Sales Report (Word)

August 2, 2017

Laguna Beach Real Estate

 

July 2017 Sales Report

 

Boyd Roberts       

 

Gallery Real Estate         949-463-9152

 

July video at www.LagunaGalleryRealEstate.com

 

 

Although median closing prices were down only $40,000 in July, they have declined over $550,000 since March and $350,000 since May.  Notably, overly optimistic sellers want over $1,400,000 more for their homes than July buyers were willing to pay.  Stated another way, sellers want almost double July’s median price.  For sure you need a knowledgeable, experienced broker to help you negotiate this market. 

 

Am I bearish?  Not at all. This is what a bull market looks like.  Year to date median prices are at $1,850,000.  Pending deals, as of August 1st, at $1,825,000 point up, in the near term.  I think Laguna is going way up, no guarantees.

 

For the most comprehensive Laguna Beach real estate reports with important data and insights that cannot be found anywhere else, go to my website www.lagunagalleryrealestate.com.  Charts are coming soon.

 

ACTIVEs (As of August 1, 2017)

 

Total                                                                                                               257 Listings

Median Price                                                                                                             $ 2,975,000

Median DOM                                                                                                 78 Days

Median Price per Square Foot                                                                    $ 1,198

 

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

 

            Total                                                                                                               51 Listings

            Median Price                                                                                                 $ 1,825,000

            Median DOM                                                                                                85 Days

            Median Price per Square Foot                                                                    $ 935

 

SOLDs (June 2017)  

 

            Total                                                                                                               34 Closings

            Total Requiring a Price Reduction                                                             26 Closings

            % of Closings at a Reduced Price                                                               76 %

            Average Price Reduction                                                                             $ 185,057

            Average Price Reduction as a %                                                                 7.7%

            Median Price                                                                                                 $ 1,545,000

            Median DOM                                                                                                58 Days

            Median Price per Square Foot                                                                    $ 969

 

Total Supply of Actives at this Rate of Sales                                                          7.55 Months

Difference Between Active Median Price and P/U Median Price                                    + $  1,150,000

Difference Between Active Median Price and Sold Median Price                       + $  1,430,000 

Difference Between P/U Median Price and Sold Median Price                           + $     236,250

 

Most Recent 3 Full Calendar Months:  5/1/2016 – 6/30/2017)   

 

            Total                                                                                                               114 Closings

            Total Requiring a Price Reduction                                                             93 Closings

            Median Price                                                                                                 $ 1,705,000

            Median DOM                                                                                                 38 Days

            Median Price per Square Foot                                                                    $ 946

            Total Supply of Actives at this Rate of Sales                                              6.76 Months

 

Most Recent 6 Full Calendar Months (2/1/2017 – 7/31/2017):       $1,860,000 Median     203 Sales

 

Most Recent 12 Full Calendar Months (8/1/2016 – 7/31/2017):    $1,825,000 Median     375 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)    $1,850,000      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; is not guaranteed; may be subject to compilation errors, data source errors, and statistically invalid data sample sizes.  All forecasts and opinions are not guaranteed.  Information pulled from California Regional Multiple Listing Service, Inc.  Active, pending/under contract, and YTD data are as of August 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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