Laguna Beach Real Estate Magazine
April 2023 | Edition #94 updated May 25, 2023
Laguna Catches A Bid
As predicted, Laguna Beach real estate prices were up in April. The sold median rallied 300,000 to $2,800,000. The sold dollars per square foot was up $83 – finishing at $1,505.
Active inventory remains low. On January 1 there were only 92 homes for sale in Laguna Beach. May 1, there were only 94.
Sellers are emboldened. The active median – May 1st – set an all-time high at $4,750,000. Since February 1, the active median is up $1,250,000. The active dollars per square foot posted its second highest print ever at $1,983.
Demand is picking up. Pending Absorption measures open escrow activity as a percentage of active inventory. January 1 Pending Absorption printed at 14%. May 1, it was 38%: a stunning 171% rise.
The April supply of homes was 3.4 months: a strong seller’s market. The high end is lagging. Under $10,000,000 the supply is 3.6 months. Over $10,000,000, the supply – at 34 months – is an extreme buyer’s market.
Prices, likely, will rise this month. Both the Pending Indicator and the Spread Indicator are forecasting higher prices for May. For the record there have been 25 Pending Indicator up signals since March 2016. 25 were correct. In the same time frame, there have been 15 Spread Indicator up signals. All of those were, also, correct.
If you like insightful data, consider using my services. I am an independent broker, have over 20 years of experience, have closed or supervised the closing of over 800 real estate and mortgage transactions, and am a long time Laguna Beach resident.
Laguna Beach Real Estate
April 2023 At-A-Glance
SOLD MEDIAN $2,800,000 + 300,000 | $ PER SQ FT $1,505 + 83 | SUPPLY 3.4 MONTHS - 1.0 | CLOSING RATIO 84% - 38
Laguna Beach Real Estate
Price Forecasts
Short-Term PENDING INDICATOR Forecast for May: Up Signal
Short-Term SPREAD INDICATOR Forecast for May: Up Signal
Long-Term PRICE INDICATOR Forecast for 2023: No Signal
Laguna Beach Real Estate
April 2023 Sales Data
Balanced Market 5 to 7.9 Months
Laguna Beach Real Estate
April 2023 Laguna Beach Real Estate Closings
Laguna Beach Real Estate
Laguna Beach Real Estate Chart
Sold Median Yearly
Boyd Roberts | Broker | Laguna Gallery Real Estate | 20+ years of experience | Has closed or overseen the closing of 800 real estate and real estate mortgage transactions far exceeding a quarter of a billion dollars | Produces A Broker's Take on the Laguna Beach Real Estate Market (video series) and updates 27 Laguna Beach real estate charts to LagunaGalleryRealEstate.com/Charts.
BA economics | Studied at Waseda University in Tokyo | Traveled around the world | Commodities futures broker for 14 years | Longtime resident of Laguna Beach
Laguna Beach Real Estate Magazine | Established February 2016 | Publisher Boyd Roberts | California Broker's License #01354788 | Copyright 2023 | All rights reserved | 949-463-9152 | https://www.lagunagalleryrealestate.com/ | Boyd@LagunaGalleryRealEstate.com
