Laguna Beach Real Estate
March 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
March 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 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 - 3 Month Moving Median - Monthly Page 7
Solds - 6 Month Moving Median - Monthly Page 7
Solds – 12 Month Moving Median - Monthly Page 8
Supply of Homes / Adjusted Supply of Homes - Monthly Page 8
Pendings - $ Per Square Foot – Median Monthly ** Chart of the Month ** Page 9
My Take
On the surface March was fairly typical. Sold median prices declined $300,000 to $1,745,000. The average price reduction imploded from over half a million dollars to under a quarter of a million dollars. The supply of homes declined to more normal levels after soaring in the short month of February. And, as usual, current sellers want $1.25M more for their homes than March buyers were willing to pay.
Buried in the numbers: pending $ per square foot surged to an all-time high of $1,251. That is up over 28% from a year ago. Pending prices often lead, so check back next month to see if the sold $ per square foot have a corresponding move up.
March 2018 Sales Report
ACTIVEs (As of April 1, 2018)
Median Price $ 2,995,000
Total 248 Listings
Median DOM 59 Days
Median Price per Square Foot $ 1,217
PENDINGs/Under Contract (P/U) (As of April 2, 2018)
Median Price $ 1,899,000
Total 55 Listings
Median DOM 63 Days
Median Price per Square Foot $ 1,251
SOLDs (March 2018)
Median Price $ 1,745,000 Total # of Closings 33 Closings
Total # of Closings Requiring a Price Reduction 31 Closings
% of Closings at a Reduced Price 94 %
Average Price Reduction $ 236,174
Average Price Reduction as a % 8.8%
Median Days On Market (DOM) 84 Days
Median Price per Square Foot $ 981
Total Supply of Actives at this Rate of Sales 7.51 Months
Difference Between Active Median Price and P/U Median Price + $ 1,096,000
Difference Between Active Median Price and Sold Median Price + $ 1,250,000
Difference Between P/U Median Price and Sold Median Price + $ 154,000
SOLDs YTD (1/1/2018 – 3/31/2018) $ 1,875,000
SOLDs Most Recent 3 Months: (1/1/2018 – 3/31/2018)
Median Closing Price $ 1,875,000
Total # of Closings 79 Closings
Total # of Closings Requiring a Price Reduction 67 Closings
Median Days on Market (DOM) 74 Days
Median Price per Square Foot $ 982
Adjusted Supply of Actives 9.41 Months
SOLDs Most Recent 6 Months (10/1/2017 – 3/31/2018): $1,835,000 Median 185 Sales
SOLDs Most Recent 12 Months (4/1/2017 – 3/31/2018) $1,800,000 Median 389 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 data as of April 1, 2018. Pending/under contract data is as of April 2, 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. Year to date he has closed over $4,000,000.
Boyd Roberts 949-463-9152 Boyd@LagunaGalleryRealEstate.com
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