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A Broker's Take on the June 2019 Real Estate Market video text

This is Boyd Roberts broker of Gallery Real Estate with my take on June’s Laguna Beach real estate market. Under $5M – with just a 6.3-month supply of homes – the market is quite robust and is firing on all cylinders. Over $5M – with over a 52-month supply – the market is anemic and needs to be put on life support.

Overall, I am very optimistic. Median June sold prices were up $60,000 and finished just short of $1.9M. In fact year to date – at an even $1.9M – we are on trac for a record year. The sold 12-month moving median set a record print at 1.895M.

Days on market at 75 days is relatively low. Median price reductions held steady at $188,000 or 9%. Most importantly with pending and 3-month closings very high, I expect these trends to continue. No guarantees.

Looking a little closer at the over $5M market, as of July 1st, there were 84 homes active on the market – not including off market pocket listings. In the last 3 months there have only been 5 sales or 1.6 per month. Dividing the 84

active listings by 1.6, we arrive at a pathetic 52.5-month supply of homes. This means at the current rate of sales it would take well over 4 years to sell the current inventory. What could possibly go wrong?

Be sure to check out my new 3 month volume chart, my sold 12 month moving median chart, and my full June report on my website, www.LagunaGalleryRealEstate.com.

Whether or not you are looking to buy or sell, if you are looking for an honest broker who knows Laguna, call me. Have an excellent 4th and thank you for joining me.

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