Laguna Beach Real Estate - $10M+ Market 1/1/2010 - 12/11/2017 (Word Version)

Laguna Beach Real Estate

 

$10M+ Market 1/1/2010-12/11/2017

 

Boyd Roberts, Broker       

 

Gallery Real Estate         949-463-9152

 

Video:  www.LagunaGalleryRealEstate.com

 

43 homes sold in Laguna Beach for $10,000,000 or more since January 1, 2010.  39 of those were listed for longer than 1 day.  All of these 39 all had to first reduced their price before they were able to secure a buyer.  Many experienced dramatic price reductions and extended time on the market.  Total price reductions totaled $227,040,250.  The average reduction $5,280,000 or 22.16 %.  The median price reduction was $3,000,000 or 20%. The twin points property, 1101 Marine Drive, capitulated the most.  It reduced its price by $30,000,000 before securing a buyer at a record setting $45,000,000.

 

The median days on market for these high end homes was 349 days.  Said another way, half of the homes took longer than 11.6 months to sell.  The average days on market was slightly higher at 387 days or almost 13 months.  2555 Altamar was an extreme.  On the market for almost 5 years, it went thru several agencies and reduced its price by 50% before closing in 2013.

 

Another observation:  there is a very high correlation between belated price reductions and extended listing periods.  Homes that take the longest to sell – in the end – reduce their price the most.  33 Smithcliffs was originally listed on March 17, 2014 at $32,000,000.  After approximately 981 days on the market, four agents, and one auction company, it sold for $12.5M earlier this year after reducing its price by just over 60%.

 

Are you looking to buy or sell Laguna?  As a broker with over 15 years of experience, over 800 transactional sides, over a 1/4 billion in sales -- consider my services. 

 

Would you like more unique information on Laguna Beach real estate that you cannot find anywhere else?  All of my full monthly reports, charts, and videos are available on my website www.lagunagalleryrealestate.com.  Call me at 949-463-9152.  Have a very merry Christmas, a prosperous new year, and thanks for joining me.

 

SOLDs $10+ (January 1, 2010 to December 11, 2017)

 

            Total # of Closings                                                               43 Closings

            Aggregate Price Reduction                                                 $227,040,250

            Average Price Reduction                                                    $5,280,005

            Median Price Reduction                                                      $3,000,000   

            Average Price Reduction                                                    22.16%

            Median of the Average Price Reduction %                       20%

            Median Combined Days on Market (CDOM)                  349 Days       

            Average Combined Days on Market                                 387 Days

 

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 the Laguna Beach Real Estate $10M+ January 1, 2010 thru December 11, 2017 Sales Report and from California Regional Multiple Listing Service, Inc.  This information is for your personal, non-commercial use and may not be used for any other purpose.

 

“Days on Market” used in this report combines listing periods separated by less than 90 days.  Some agents refer to this as “combined days on market.

 

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.

 

BRE 01354788  Copyright 2017.  All Rights Reserved.

 

 

Address

Date

 Original List Price 

 Closing Price

 Price Reduction

% Reduction

CDOM

31921 S. Coast Highway

4/30/2010

 $           17,900,000

 $      15,800,000

 $          2,100,000

11.7%

375

1855 Ocean Way

8/3/2010

 $           11,000,000

 $      11,000,000

 $                         -  

0.0%

0

13 Lagunita

9/8/2010

 $           16,900,000

 $      10,250,000

 $          6,650,000

39.3%

373

990 Ocean Front

1/4/2011

 $           13,995,000

 $      11,500,000

 $          2,495,000

17.8%

23

168 Emerald Bay

7/5/2012

 $           21,995,000

 $      16,000,000

 $          5,995,000

27.2%

343

3 Montage Way

9/13/2012

 $           32,500,000

 $      20,000,000

 $        12,500,000

38.4%

610

2529 S. Coast Highway

12/26/2012

 $           24,995,000

 $      14,025,000

 $        10,970,000

43.8%

131

3 Camel Point Drive

12/31/2012

 $           19,800,000

 $      17,500,000

 $          2,300,000

11.6%

941

1031 Marine Drive

3/15/2013

 $           13,700,000

 $      11,000,000

 $          2,700,000

19.7%

557

2555 Altamar Drive

4/9/2013

 $           21,500,000

 $      10,750,000

 $        10,750,000

50.0%

1768

992 Ocean Front

5/28/2013

 $           17,900,000

 $      13,650,000

 $          4,250,000

23.7%

441

2523 Altamar Drive

8/13/2013

 $           16,500,000

 $      12,500,000

 $          4,000,000

24.2%

421

2661 Victoria Drive

8/30/2013

 $           11,900,000

 $      10,500,000

 $          1,400,000

11.7%

120

170 Emerald Bay

10/17/2013

 $           20,000,000

 $      15,500,000

 $          4,500,000

22.5%

664

990 Ocean Front

4/15/2014

 $           13,500,000

 $      11,500,000

 $          2,000,000

14.8%

469

2620 Riviera Drive

5/2/2014

 $           14,500,000

 $      11,500,000

 $          3,000,000

20.6%

200

2675 Riviera Drive

6/16/2014

 $           40,000,000

 $      23,600,000

 $        16,400,000

41.0%

438

267 Cresent Bay Drive

8/27/2014

 $           12,750,000

 $      10,200,000

 $          2,550,000

20.0%

349

169 Emerald Bay

9/19/2014

 $           10,500,000

 $      10,200,000

 $              300,000

2.8%

197

176 Emerald Bay

9/22/2014

 $           20,000,000

 $      15,075,000

 $          4,925,000

24.6%

518

11 La Senda Place

10/1/2014

 $           10,000,000

 $      10,000,000

 $                         -  

0.0%

1

2099 Ocean Way

3/31/2015

 $           13,700,000

 $      10,500,000

 $          2,200,000

16.0%

253

182 Emerald Bay

5/11/2015

 $           17,850,000

 $      15,000,000

 $          2,850,000

15.9%

276

3 Emerald Bay

5/13/2015

 $           14,999,000

 $      11,600,000

 $          3,399,000

22.6%

413

1901 Ocean Way

6/29/2015

 $           15,400,000

 $      14,200,000

 $          1,200,000

7.7%

394

31401 Mar Vista Avenue

8/20/2015

 $           14,400,000

 $      10,100,000

 $          4,300,000

29.8%

409

33 Bay Drive

9/11/2015

 $           15,800,000

 $      15,800,000

 $                         -  

0.0%

0

2 Rockledge Road

10/7/2015

 $           10,500,000

 $      10,000,000

 $              500,000

4.7%

73

168 Emerald Bay

10/14/2015

 $           20,995,000

 $      17,200,000

 $          3,795,000

18.0%

206

1379 Circle Way

10/22/2015

 $           11,395,000

 $      10,433,750

 $              961,250

8.4%

238

2475 S. Coast Highway

11/20/2015

 $           29,995,000

 $      17,500,000

 $        12,495,000

41.6%

584

1101 Marine Drive

2/2/2016

 $           75,000,000

 $      45,000,000

 $        30,000,000

40.0%

257

102 Emerald Bay

3/23/2016

 $           29,995,000

 $      19,125,000

 $        10,870,000

36.2%

887

845 Cliff Drive

5/6/2016

 $           11,950,000

 $      10,900,000

 $          1,050,000

8.7%

33

101 Emerald Bay

7/13/2016

 $           14,250,000

 $      10,500,000

 $          3,750,000

26.3%

825

17 Lagunita Drive

8/10/2016

 $           16,900,000

 $      12,200,000

 $          4,700,000

27.8%

191

1885 Ocean Way

8/31/2016

 $           16,500,000

 $      16,000,000

 $              500,000

3.0%

44

39 Smithcliffs Road

2/6/2017

 $           18,995,000

 $      10,000,000

 $          8,995,000

47.3%

643

33 Smithcliffs Road

3/16/2017

 $           32,000,000

 $      12,500,000

 $        19,500,000

60.9%

981

160 Saint Anns Drive

5/19/2017

 $           15,695,000

 $      13,000,000

 $          2,695,000

17.1%

210

1225 Cliff Drive

5/24/2017

 $           10,350,000

 $      10,350,000

 $                         -  

0.0%

0

2480 Monaco

7/24/2017

 $           11,995,000

 $      10,000,000

 $          1,995,000

16.6%

67

21 Montage Way

10/16/2017

 $           29,500,000

 $      18,000,000

 $        11,500,000

38.9%

744

 Total

 $     227,040,250

Discussed in video

 Average

 $          5,280,005

22.1%

387

4 Listings sold off Mkt:  this likely skews all #'s down

 Median

 $          3,000,000

20.0%

349

 

 

 

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