My Take on Laguna Beach's Real Estate Market

What a month. 

 

  • As predicted in February’s report, the March median prices rose.  They were up $145,000 to an even $2,100,000 – the third highest print ever.  Chart on page 7..

  • The number of closings – at 36 – was twice February’s number.  Closing detail on page 3. 

  • The supply of homes imploded by almost 50% to a very normal 7.7 months.  Chart on page 10. 

  • The sold 12-month Moving Median broke to an all-time high at $1,875,000.  Chart on page 7. 

  • April 1st pending volume – at 48 -- remains in a healthy range.  Chart on page 9.

  • The $2-3M sector was particularly impressive.  1/3 of all closings in March were in that sector.  All sector breakdowns on page 4.

  • Also notable was the $3-5M price point.  The supply of homes in that sector collapsed from over 31 months to just under 13.   

 

What’s next? 

 

  • After going up 5 months in a row for a total of $550,000 in increases, I am now forecasting a pull back. 

  • With April 1st’s pending prices $350,000 lower than March’s sold median, my Pending Indicator – which has never been wrong – is now signaling a short term decline.  The short-term Pending Indicator chart can be found at  https://www.lagunagalleryrealestate.com/charts).

 

All of my reports, videos, and charts can be found at www.LagunaGalleryRealEstate.com. 

 

Call me at 949-463-9152 for all your real estate needs.

 

Boyd Roberts, broker

Gallery Real Estate

949-463-9152

www.LagunaGalleryRealEstate.com

BRE 01354788

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