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