Laguna Beach Real Estate
October 2017 Sales Report
Boyd Roberts
Gallery Real Estate 949-463-9152
October video at www.LagunaGalleryRealEstate.com
In this broker’s view October may have set the stage for a record 2017. Yes, the October median price was up only $60,000 after declining $100,000 the month before. Yes, the 6 month moving median price did just decline by $100,000. Yes, current sellers want almost $1.35M more for their homes than October buyers were willing to pay. Yes, 83% of October closings had to first reduce their price. Yes, the average price reduction was over $273,000.
But consider: despite the recent declines, year to date – at an even $1.8M – we are at 2016’s record level. Consider also, current pending deals are now almost at $1.9M. And consider the current monthly inventory of homes for sale just declined by 36%.
Whether or not you are buying or selling Laguna, likely, you need knowledge and experience to help you negotiate this market. As a broker with over 14 years of experience, over 800 transactional sides, over $250,000,000 in sales. Call me today.
ACTIVEs (As of November 1, 2017)
Median Price $ 2,995,000
Total 231 Listings
Median DOM 93 Days
Median Price per Square Foot $ 1,184
PENDINGs/Under Contract (P/U) (As of November 1, 2017)
Median Price $ 1,895,000
Total 50 Listings
Median DOM 99 Days
Median Price per Square Foot $ 1,024
SOLDs (October 2017)
Median Price $ 1,647,500 Total 42 Closings
Total Requiring a Price Reduction 35 Closings
% of Closings at a Reduced Price 83 %
Average Price Reduction $ 273,995
Average Price Reduction as a % 8.0%
Median DOM 51 Days
Median Price per Square Foot $ 903
Total Supply of Actives at this Rate of Sales 5.5 Months
Difference Between Active Median Price and P/U Median Price + $ 1,100,000
Difference Between Active Median Price and Sold Median Price + $ 1,347,500
Difference Between P/U Median Price and Sold Median Price + $ 247,500
Most Recent 3 Full Calendar Months: 8/1/2017 – 10/31/2017)
Total 107 Closings
Total Requiring a Price Reduction 86 Closings
Median Price $ 1,650,000
Median DOM 51 Days
Median Price per Square Foot $ 935
Total Supply of Actives at this Rate of Sales 6.47 Months
Most Recent 6 Full Calendar Months (5/1/2017 – 10/31/2017): $1,700,000 Median 219 Sales
Most Recent 12 Full Calendar Months (11/1/2016 – 10/31/2017): $1,825,000 Median 393 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) $1,800,000 337
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 November 1, 2017. This information is for your personal, non-commercial use and may not be used for any other purpose. Pending/under contract price data is not necessarily the contract price. Likely, it is the last active price before going into contract.
Boyd Roberts was licensed as a salesperson in 2002 and as a broker in 2004. Individually and as a broker he has closed or overseen the closings of over 800 real estate and real estate loan transactions in excess of a $1/4 billion.
Boyd Roberts 949-463-9152 Boyd.GalleryRE@gmail.com
Copyright 2017. All Rights Reserved. BRE #01354788