Laguna Beach Real Estate | February 2018 (Word Version)

March 5, 2018

Laguna Beach Real Estate

 

February Sales Report

 

 

 

Boyd Roberts | Broker | Gallery Real Estate       

 

949-463-9152

 

        Videos, Reports, and Charts at www.LagunaGalleryRealEstate.com

 

 

 

 

Table of Contents

 

My Take                                                                                                                     Page 1

 

February 2018 Laguna Beach Real Estate Report                                                Page 2

 

Charts                                                                                                                        Page 3

 

   Solds Median Yearly / Number of Closings                                                        Page 3

   Solds Median Monthly                                                                                          Page 3

   Actives / Pendings / Solds – Median Monthly                                                     Page 4

   Solds Median Monthly / Pending Indicator    **Chart of the Month**           Page 4

   Solds Days on Market – Median Monthly                                                           Page 5

   Solds Days on Market – Median Yearly                                                              Page 5

   Solds - $ Per Square Foot – Median Monthly                                                     Page 6

   Solds - $ Per Square Foot – Median Yearly                                                        Page 6

   Solds Median 3 Month Moving                                                                            Page 7

   Solds Median 6 Month Moving                                                                            Page 7

   Solds Median 12 Month Moving                                                                          Page 8

   Supply of Homes / Adjusted Supply of Homes - Monthly                                 Page 8

 

My Take

                  

As forecast, median sold prices did rise -- $210,000 since December and $170,000 in February -- to $2,045,000.  Pending prices lead closing prices.  In the last two years of covering Laguna Beach, I have found that divergences between pending and closing prices exceeding $250,000 are very predictive.  In December’s report I did notice pendings $260,000 ahead of closings.  If you follow Laguna Beach prices you might want keep an eye on pendings.

 

Back to February.  Although up, it was very ugly.  The average price reduction more than doubled to just over $540,000.  The average price reduction percentage also doubled from 7% to 14%.  With active listings up 28% since December and with February closings imploding by 46%, the supply of homes almost tripled to 14 months. 

 

February 2018 Sales Report

 

 

ACTIVEs (As of March 1, 2018)

 

Median Price                                                                                                             $ 2,995,000

Total                                                                                                               227 Listings

Median DOM                                                                                                 58 Days

Median Price per Square Foot                                                                    $ 1,316

 

PENDINGs/Under Contract (P/U) (As of March 1, 2018)

 

            Median Price                                                                                                 $ 2,000,000

            Total                                                                                                               45 Listings

            Median DOM                                                                                                80 Days

            Median Price per Square Foot                                                                    $ 1,191

 

SOLDs (February 2018)      

 

Median Price                                                                                                 $ 2,045,000 Total # of Closings                                                                                              16 Closings

            Total # of Closings Requiring a Price Reduction                                      13 Closings

            % of Closings at a Reduced Price                                                               81 %

            Average Price Reduction                                                                             $ 541,881

            Average Price Reduction as a %                                                                 14%

            Median Days On Market (DOM)                                                                109 Days

            Median Price per Square Foot                                                                    $ 964

 

Total Supply of Actives at this Rate of Sales                                                          14.18 Months

Difference Between Active Median Price and P/U Median Price                                    + $  995,000

Difference Between Active Median Price and Sold Median Price                       + $  950,000 

Difference Between P/U Median Price and Sold Median Price                           -  $    45,000

     

SOLDs YTD  (1/1/2018 – 2/28/2018)                                                                                   $ 1,900,000

 

SOLDs Most Recent 3 Months: (12/1/2017 – 2/28/2018)

            Median Closing Price                                                                                   $ 1,890,000

Total # of Closings                                                                                        76 Closings

            Total # of Closings Requiring a Price Reduction                                      61 Closings

            Median Days on Market (DOM)                                                                 62 Days

            Median Price per Square Foot                                                                    $ 1000

            Total Supply of Actives at this Rate of Sales                                              8.97 Months

 

SOLDs Most Recent 6 Months (9/1/2017 – 2/28/2018):                          $1,800,000 Median    182 Sales

 

SOLDs Most Recent 12 Months (3/1/2018 – 2/28/2018)                      $1,825,000 Median    392 Sales

 

 

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 data is as of March 1, 2018. 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

 

 

 

Copyright 2018.  All Rights Reserved.  BRE #01354788

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