February 2019 Laguna Beach, California, United States of America, Report on Homes For Sale | Raw Text

Laguna Beach Real Estate

 

February 2019 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 2

 

February Closing Detail                                                                                           Page 2

 

February Sales Data                                                                                                 Page 3

 

Market Segment Analysis                                                                                        Page 3

 

Charts                                                                                                                        Page 4

 

   Sold Median Yearly | # of Closings                                                                      Page 4

   The Spread | Actives / Solds – Median Monthly                                                 Page 4

   Sold Median Monthly                                                                                            Page 5

   Short Term Pending Indicator                                                                             Page 5

   Sold Median 3 Month Moving                                                                              Page 6

   Sold Median 6 Month Moving                                                                              Page 6

   Sold Median 12 Month Moving                                                                            Page 7

   Sold 12 Month Volume Monthly                                                                          Page 7

   Sold - $ Per Square Foot – Median Yearly                                                         Website

   Sold - $ Per Square Foot – Median Monthly                                                      Page 8

   Sold - $ Per Square Foot – 3 Month Median                                                      Page 8

   Sold Days on Market – Median Monthly                                                                        Website             

   Sold Days on Market – Median Yearly                                                               Website

   Pending Median Monthly                                                                                     Page 9

   Pending Volume Monthly                                                                                     Page 9

   Supply | Adjusted Supply - Monthly        **Chart of the Month**                   Page 10

 

                                               

 

 

 

 

 

 

 

 

My Take

 

The supply of homes for sale exploded last month to over 14 months, but it is about to implode.  12 Month volume has plunged to 345 closings, but it is about to come back.  Why?  There is a large pipeline of pending transactions, ready to close and right this bull just in time for spring. 

 

As I forecasted last month, median sold prices did rise.  They were up $55,000 to $1.955M.  That makes my short-term price indicator 16 for 16 over the last 3 years.  Thou, not an official call, with the pending median at almost $2.2M – its 3rd highest print ever – prices will likely be higher again this month.  February’s median price reduction was $212,500 or 8.6%.

 

Two more things on supply:  The supply of homes in the under $1.5M segment has doubled in the last 2 months.  In that same period the supply of $2-3M homes declined by 30%. 

 

 

 

 

 

 

February Closing Detail

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

February 2019 Sales Data

 

 

ACTIVEs (As of March 1, 2019)

 

Median                                                                       $ 2,799,000                 247 Listings

Median Days on Market (DOM)                                                                 99 Days

Median $ per Square Foot                                                                           $ 1,278

 

PENDINGs (As of March 1, 2019)

 

            Median                                                                       $ 2,195,000                 48 Listings

            Median DOM                                                                                                76 Days

            Median $ per Square Foot                                                                           $ 1,019

 

SOLDs (February 2019)      

 

Median                                                                       $ 1,955,000                 17 Closings    

            Median Reduction                                                    $    212,500                 8.6%

            Median DOM                                                                                                109 Days

            Median $ Per Square Foot                                                                           $ 875

 

SUPPLY of ACTIVEs | 3 Month Adjusted SUPPLY       14.5 Months               14.2 Months

The SPREAD (ACTIVEs – SOLDs)                                                                       + $ 844,000 

The PENDING INDICATOR (PENDINGs - SOLDs)                                          + $    240,000

     

SOLDs 3 Month Median: (12/1/2018 – 2/28/2019)                         $ 1,955,000                 52 Closings

 

 

            DOM                                                                                                              52 Days

            $ Per Square Foot                                                                                         $ 982

 

SOLDs 6 Month Median (9/1/2018 – 2/28/2019):                                       $ 1,869,000                 133 Sales

SOLDs 12 Month Median (3/1/2018 – 2/28/2019)                                   $ 1,850,000                 345 Sales

 

 

Market Segment Analysis

 

 

Market Segment                                ACTIVEs       SOLDs           SUPPLY         

                                                                        (As of 3/1/2019)       (last 3 Months)           (Adj 3 Months)                                                                                            

$1,499,999-                                         17.0%             34.6%             07.0 Months

$1,500,000 - $1,999,999                     16.5%             17.3%             13.6 Months

$2,000,000 - $2,999,999                     20.6%             23.0%             12.7 Months

$3,000,000 - $4,999,999                     21.4%             09.6%             31.8 Months

$5,000,000 - $9,999,999                     12.1%             07.6%             22.5 Months

$10,000,000+                                      12.1%             07.6%             22.5 Months

 

Boyd Roberts is 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, and Market Segment ACTIVE data is as of March 1, 2019.  Market Segment SOLD and SUPPLY data is averaged over the last 3 full months.  PENDING data includes UNDER CONTRACT data.  Listing periods separated by less than 90 days are combined.  This report is for your personal, non-commercial use and may not be used for any other purpose.

 

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 more than a $1/4 billion. 

 

Boyd Roberts     949-463-9152          Boyd@LagunaGalleryRealEstate.com

 

 

 

Copyright 2019.  All Rights Reserved.  BRE #01354788

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