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

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

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