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
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