As I predicted last month, prices did fall. The sold median finished at $1,750,000 down $350,000 – a 16% drop (chart on page 6 of my September 2019 Laguna Beach Real Estate Sales Report). For those of you keeping track, that is the 19th time in a row that I have accurately predicted a short-term Laguna Beach price movement (Pending Indicator chart on my website: www.LagunaGalleryRealEstate.com).
But make no mistake, this is the best of times. The supply of homes – at 6.4 months – is at an 18-month low (page 10). Despite September’s plunge, the 12-month moving median remains at a record $1,900,000 (page 7). Likely, 2019 will be a record year.
Check out my Laguna Beach View Ordinance video on my website www.LagunaGalleryRealEstate.com.
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January 4, 2020
Laguna Beach Real Estate | A Broker's Take on December 2019, the Year 2019, and 2020 Outlook youtube video text
January 3, 2020
Laguna Beach real estate broker, Boyd Roberts, gives his take on the Laguna Beach real estate market. This month’s text: