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