Laguna Beach Real Estate Report | March 2018 | Word Version

April 16, 2018

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

 

 

 

Copyright 2018.  All Rights Reserved.  BRE #01354788

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