Laguna Beach Real Estate | $10M+ Report (Word Version)

August 18, 2018

Laguna Beach Real Estate


August 18, 2018  |  $10M+ Report




Boyd Roberts | Broker | Gallery Real Estate       




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Table of Contents


My Take                                                                                                                       Page 1

$10M+ Market Raw Numbers                                                                                       Page 2

January 1, 2010 to August 18, 2018 $10M+ Deals                                                           Page 3






My Take



Over the last year, 16 homes over $10M have sold in Laguna Beach at the rate of 1 sale every 23 days.  As of August 18th there are 37 such properties listed for sale, not including off market, pocket listings.  This means that in any 23-day period, one buyer can pit 37 sellers against each other.  Said another way, Laguna’s high end is a buyer’s market.


Five facts from the report:


  • The median price reduction was $2,850,000.

  • The median price reduction as a percentage was 19.6%.

  • The median days on market was 257 days.

  • The highest price reductions correlated highly with the longest time on the market:  60% of sales in the highest quintile of price reductions were also in the highest quintile for the longest time on the market.

  • The lowest price reductions correlated highly with the shortest time on the market:  50% of sales in the lowest quintile of price reductions were also in the lowest quintile of time on market.


Clearly, many of these homes are overpriced.  Clearly, Laguna’s high end is not exempt from the laws of supply and demand. 


In real estate price is everything.  No agent – no matter the reputation or how great the marketing plan – can get a buyer to over pay for a property, even in Laguna Beach.  When a home is overpriced – especially in a buyer’s market – it is rendered relatively illiquid.  Fewer buyers will look at or even consider looking at an overpriced home let alone make offers.  Pocket listings are even more illiquid.


When illiquid properties do sell – many times – they ultimately sell at a lower price than if home had been originally listed at a true market price.  Illiquidity wears on sellers and they often capitulate.    


A well-priced home is more liquid and will sell quickly, near full price.  

$10M+ Market Raw Numbers


ACTIVEs (As of August 17, 2018)


Median Price                                                                                     $15,989,000

Total # of Listings                                                                 37 Listings

Median CDOM                                                                     157 Days

Total with CDOM Greater than 365 Days                         9

Median Price per Square Foot                                            $ 3,057


PENDINGs/Under Contract (P/U) (As of August 17, 2018)                            1 Listing


SOLDs (January 1, 2010 to August 17, 2018)  


Total # of Closings                                                                58 Closings

            Average Price Reduction                                                     $ 5,012,533*

            Average Price Reduction as a %                                         21.5 %*

            Median Price Reduction                                                       $ 2,850,000*

            Median Price Reduction as a %                                          19.6 %*

            Average Combined Days on Market (CDOM)                  373 Days*

            Median Combined Days on Market (CDOM)                   276 Days*

            Average $ Per Square Foot                                                  $ 3,056

Median $ Per Square Foot                                                   $ 2,457


Rate of Sales 16 sales in the last year, 1 sale every                        23 Days

Total Supply of Actives at the last year’s Rate of Sales                844 Days or 28 Months



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 and Pending/Under contract data as of August 18, 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. 


*5 homes were reported for comparable purposes only.  They are only used in the $ per square foot statistics.


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 $4,930,000.  He has a BA in Economics from CSUSB and was a licensed commodities broker for 14 years.


Boyd Roberts     949-463-9152




Copyright 2018.  All Rights Reserved.  BRE #01354788

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