Laguna Beach Real Estate
November 2017 Sales Report
Boyd Roberts
Gallery Real Estate 949-463-9152
November video at www.LagunaGalleryRealEstate.com
All numbers seem to point to $1,800,000. Let me explain. November’s median price – up just over $150,000 – finished up exactly at $1,800,000. Year to date we are exactly at $1,800,000. Remember 2016? The median price for the year was exactly $1,800,000. With 8 closings year to date at $1,800,000 and with current pending deals only slightly lower at $1,700,000, one would think that we might be reporting this number again in next month's report. We shall see.
Price reductions were down in November. The average price reduction declined from $274,000 to $160,000. As a percentage, the average reduction fell from 8% to 5.5%.
Always noteworthy: current sellers want almost $1,150,000 more for their homes than November buyers were willing to pay.
Coming soon: my special report on the $10,000,000+ market and my yearend review.
Check out my website for all of my reports and videos and keep me in mind for all of your real estate needs.
ACTIVEs (As of December 1, 2017)
Median Price $ 2,949,000
Total 216 Listings
Median DOM 107 Days
Median Price per Square Foot $ 1,195
PENDINGs/Under Contract (P/U) (As of December 1, 2017)
Median Price $ 1,699,900
Total 36 Listings
Median DOM 74 Days
Median Price per Square Foot $ 1,038
SOLDs (November 2017)
Median Price $ 1,800,000 Total # of Closings 32 Closings
Total # of Closings Requiring a Price Reduction 27 Closings
% of Closings at a Reduced Price 84 %
Average Price Reduction $ 159,958
Average Price Reduction as a % 5.5%
Median Days On Market (DOM) 72 Days
Median Price per Square Foot $ 946
Total Supply of Actives at this Rate of Sales 6.75 Months
Difference Between Active Median Price and P/U Median Price + $ 1,249,100
Difference Between Active Median Price and Sold Median Price + $ 1,149,000
Difference Between P/U Median Price and Sold Median Price - $ 100,100
Most Recent 3 Full Calendar Months: 9/1/2017 – 11/30/2017)
Median Price $ 1,790,000
Total # of Closings 104 Closings
Total # of Closings Requiring a Price Reduction 86 Closings
Median Days on Market (DOM) 61 Days
Median Price per Square Foot $ 936
Total Supply of Actives at this Rate of Sales 6.23 Months
Most Recent 6 Full Calendar Months (6/1/2017 – 11/30/2017): $1,700,000 Median 208 Sales
Most Recent 12 Full Calendar Months (12/1/2016 – 11/30/2017): $1,815,000 Median 397 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) $1,800,000 369
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 December 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@LagunaGalleryRealEstate.com
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