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Laguna Beach Real Estate July 2017 Sales Report (Word)

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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