2012 Laguna Beach Home Sales Dive – Inventory Soars

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February 15, 2012

 

 Laguna Beach Home Sales dropped by almost 50% from last month. January is such a beautiful month in Laguna Beach, it is hard to understand.  It was one of the two lowest sales months in the past 12 months. With 44 new properties coming on the market, inventory is great for buyers.  This increase in inventory matched the months in early 2011.  The days on the market for the homes that sold have dropped for 4 months in a row.  The trend was for more homes to sell and the inventory to decrease.  That trend can’t continue too long before you run out of homes to sell.  Fortunately for the buyers, this month was stellar.  Go out and make an offer.

The Average Price for January 2012 was $1,236,823

There are nice places to live and then there is Laguna Beach.  How wonderful to be able to live in an area where the average price is over $1.2 million, the schools are superior, the shopping is excellent, the views are awesome and the dining is just superb.  People are very casual and you cannot tell by looking at someone whether they live in a one bedroom condo or a $10 million dollar home.  So very American.  So very friendly.  If nothing else, everyone should visit Laguna Beach and just spend the day.

The most expensive home sold for $4.3 million and it is on the list of homes if you click on the link below. You click on the link, then scroll down and click on January, the scroll down and click on Weymouth Place.  You will see the picture of the home and the details. Use the MLS number when you click on my MLS link to the right of the blog and you can see all the pictues.

Link to see the details – Click here to see the report

The home on Weymouth was by far the most expensive home sold.  But this month had the lowest average sales price of any month in the last twelve.  Most homes sold for far less. The median price will help you orient yourself to the market in this case.

Median Price Drops to $875,000 - Lowest in 12 months

This shows the true story. Half of the homes sold for less than $875,000 and half sold for more.  Most homes were priced and sold for much less than the average price.   One home sold in the low $600,000′s.  This is premium real estate in California.  I read somewhere that Laguna Beach has the highest per capita income of all US cities except for a small city outside San Franciso. 

For more information on this city, click on this link-

http://www.titleadvantage.com/mdocs/LagunaBeach.pdf

 

Designed by Tim Sainburg from Brambling Design

Designed by Tim Sainburg from Brambling Design

Designed by Tim Sainburg from Brambling Design

Categories: California, Coastal Single Family Homes, Laguna Beach, Laguna Beach Homes, Residential Real Estate.

Laguna Beach Homes Sales are Picking Up Steam

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January 22, 2012

 

Strongest Sales Month for Laguna Beach in 2012

Santa Claus put new homes under the tree for our Laguna Beach buyers. December was the highest sales month all year and it was preceded by three very strong sales months. Inventory swamped sales for most of the year so there still is a good selection.  Some of our owners want prices over market but the average asking price has been pretty much a mirror image of the sales prices.  Sellers have always been willing to make concessions for the right buyer, especially a cash buyer who can close early or late and will accommodate the seller.
The days on market have decreased over the past three months.  It seems we have sold much of that new summer inventory.  Winter is also a good buying season for Laguna Beach. The beach skies are crystal clear, weather is moderate, and the winter skiing is only three hours a way. Anyone staying here after the Rose Bowl would find it hard to go back to Wisconsin.

Average Price Drops To $1,780,741

 This is a fairly impressive average price, no?   Still it has dropped from the last two months averages.  6 Barranca Way was on the market for $8,495,000 and finally sold after 543 days for $7,362,000.  The seller took over a million dollars off his price.  There were 29 sales for the month and only one other sale was over $3 million.  It was a happy Christmas for them!  As I mentioned above when the sellers finally drop their prices to a reasonable level for the buyers, the home will sell for close to the price. Or at least within 5 – 8% of the price.  Some buyers make the mistake of offering 20% or 30% below the price and expect to get a counter offer from the seller.  They are usually just ignored which can be frustrating after hearing on the news that prices have plummeted.  Those reporters are looking for the worst case scenarios to highlight.  That keeps the viewers interested even if the information is not applicable to that specific market.  We have some devastated areas in California but the coastal areas of Orange County  homes are selling.

This is by far the Lowest Median Price in the Last 4 Months

The Median Price for December was $1,190,000.  The prices ranged from $360,000 up to the $7,362,000 but the one in the middle of all the sales was just about $1.2 million.  The median price has jumped all over the place this year. There are lots of expensive homes with beautiful views but there are some inexpensive little homes that would be considered tear-downs. To build a nice one on the lot you have to get approvals from the City of Laguna Beach.  That takes lots of time and patience.

To see all the information on the sold homes, lists of the monthly sales, individual sales and details on each house-  Click here to see the report 
 

Categories: Coastal Single Family Homes, Laguna Beach, Laguna Beach Homes.

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YTD 2011 Laguna Beach Home Sales Decline And New Inventory Spikes

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December 19, 2011
Inventory Increases to 36 – Sales Decline to 24 for November 2011

The new inventory increased to 36 from 33 last month and was the highest number for the last quarter.  Meanwhile the sales dropped slightly to 24 from 26 and 27 in the previous months.  Not a good sign.  Some expensive homes did sell.  There was a $6.825 million dollar home in Emerald Bay and a $6 million dollar home on the Coast Highway with many sales over $1 million.  If you want a closer look at any of the sold homes, click on the link at the bottom of these remarks.  You can look up the property by MLS numbers using my MLS link to the right of the blogging comments.

 
There were some older properties that finally sold including the $6.725 million one.  It was on the market for 767 days, over two years!  The other one took 8 months which is reasonable in that price point.  Overall the average days on market was 209 for Laguna Beach homes.  That is seven months from the date the home was listed to the date the sellers had to move.  Seven months goes by quickly.   One of the homes sold for $75,000 more than the listing price.  That seller was happy!
 
Want to see the details? Click here to see the report
Average Sold Price was $1,815,708

Let’s say you have a couple of million dollars to spend on a beach home in a nice city, definitely look in Laguna Beach!  When you see the views and experience this coastal, eclectic city, you understand why people are drawn here.  It is a very casual city and you cannot tell how much someone is worth just by looking.  Some families have lived here for years and have homes that appreciated 50 times their purchase price.  I knew an elderly priest who lived here in his family home bought back in the 1920′s.  The streets were named after his sisters by the builder.  He remembered that the only phone in town was at the only hotel.  He rode a horse from his family’s home in Pasadena to get here and have a adventure at the same time.  Lots of stories in this town.

Median Home Price Decreases to $1,347,500

This was down from last month but up from the rest of 2011.  This is very encouraging for our sellers.  More people are comfortable with investing in real estate and willing to spend more money to get the right home.  Even at these prices, the homes are under the top of the market by 30% on average but that will not last forever.  If you want that priceless view in this amazing city, now is the time to buy.  If you want a list of the homes currently available, please email me at cathleen@cathleenpryor.com.  I can get financing for foreign buyers with no US income or assets up to 5 million.  Please let me know if you require financing and are having difficulty purchasing here.

Categories: Coastal Single Family Homes, Laguna Beach, Laguna Beach Homes, Residential Real Estate.

October 2011 Laguna Beach Home Sales Prices Shoot UP!

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November 3, 2011

Average Price for Laguna Beach Homes Jumps to $2,136,258

The buyers are back!  What recession?  The average sold price exceeds every other month in the past twelve by at least $200,000.  Some of the blockbuster prices were : $7,200,000 , $4,375,000  and then there was a nice home for $4,125,000.  Only five of the twenty-four homes that sold were less than $1,000,000.  We certainly have some very happy buyers and sellers after last month.

Laguna Beach Home Inventory Increases but Sales Stay Strong

Thirty-four new homes came on the market which is up from last month but well in line with the monthly numbers over the past year.  Twenty-four homes were sold and many were very expensive.  If you click on the link at the bottom of this blog post, you will see a report. Scroll down to the months listed below the graph, any of the graphs. That will bring up the list of homes that sold for that month.  Click on October and you will see those homes. Then click on any particular address, you will see a map and an icon with a picture of the home. Click on the details link and you will get the information on the home as well as an MLS number.  If you click on my MLS link on this blog and input the MLS number of  a home, you can see pictures of the inside of the home that are stored in the MLS system.

 
The average days on market was one of the highest all year and can indicate there were a number of short sale homes.  It can also show you some owners who were willing to wait for the right buyer.  Financing for these multi-million dollar properties can be difficult.  If you have 50% down, even a foreign investor with no US income can qualify. Send me an email and I will connect you.

Median Price Spikes up to $1,612,500

If you have read my blog for a while, you know that this is the price in the middle of all the sales for the month.  For October, half of the homes sold for less than $1.6 million and half sold for more.  Just take a look at the itemized list, this was a great month.
 
For more details -  Click here to see the report

Designed by Tim Sainburg from Brambling Design

Categories: Laguna Beach, Laguna Beach Homes, Residential Real Estate, Uncategorized.

September 2011 Laguna Beach Homes Sales Pick Up but Still Lag Behind New Inventory

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October 10, 2011

Laguna Beach Home Sales Increase 25% to 20 for September

 

This is nice news!  There is a slowdown in most communities but not Laguna Beach. Sales have averaged in the 20′s most of the year in Laguna Niguel but the September sales are up from August unlike the rest of the County.  Unfortunately the sales continue to lag behind the new inventory.  Many more sellers are out there. Buyers need to wake up and smell the coffee!  Try to negotiate the deal you want for the property you yearn for.  This is the time to get the best deal.  The Fall season is dismal for sales and sellers are tired of being on the market.  Bring in a good offer and a quick escrow! You will be suprised.  The inventory is excellent!  For a list of properties including foreclosures and short sales, email me!  cathleen@cathleenpryor.com

Average Price Drops to $1.515 million

Oh my goodness, the average sales price dropped to $100,000 from last month and is the lowest since  April, 2011.  Still most sales were well over $1 million.  The average price was skewed by several listings under $900,000.

September 2011 Median Price for Laguna Beach Homes is $1,397,500

The midpoint of all sales in September 2011 was just about $1.4 million. Half of the homes sold for less, others sold for more.  The most expensive home sold for $4.05 million.  It was a beauty in Emerald Bay.  Click on the details link below for more information.  You can see the actual listing in my IDX link on the home page of the Blog.

For more details – Click here to see the report

 

Categories: Coastal Single Family Homes, Laguna Beach, Laguna Beach Homes, Residential Real Estate, Single Family Homes.

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Laguna Beach Home Sales Up 50%

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July 8, 2011

Sales Increase by 50% but New Inventory Increases Too

May was slow but June sales bounced back. 23 homes were sold in June which was a good month looking at the past 12 months.  New inventory still outpaces the sales.  The sales reveal an average of only 140 days on the market. That is relatively quick for  the period between the listing and close date. Most properties receive an offer within the first three months and close in 60 days. This includes short sales.  Equity sellers must turn their competitively priced properties fast to average out the short sale drama escrows. 

Average Price Increases to $1,930,644

God bless the new owners of 114 S La Senda ($7.5 million) and 2595 Altamar ($5.25 million).  Those sales pushed up the average sales figure significantly. Don’t get discouraged because the most of the other sales were below $2 million or even $1 million. Some of the views and lots in Laguna Beach are among the best in the world.

Median Sold Price Increases to $1,300,000

Finally, the median price rises to the levels we saw in late 2010.

For all the details – Click here to see the report

Categories: Laguna Beach, Laguna Beach Homes, Residential Real Estate.

Laguna Beach Home Prices Dip

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January 4, 2011

Inventory keeps pace with Sales

Laguna Beach Home Average Price Falls
Laguna Beach has had a sluggish year like the rest of the nation. Sales and inventory have basically kept pace with each other. The average price in December was lower than November but that is based on just three sold properties.  2011 should be so much better for sellers and buyers.  When the prices start increasing, more sellers are willing to enter the market but prices are still so low that buyers should not wait and miss out on bargains.
Interested in more details?    Click here to see the report

Categories: Coastal Single Family Homes, Laguna Beach, Laguna Beach Homes, Residential Real Estate.

Laguna Beach is still under water

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November 3, 2010

New Listings still dwarf Sales

Laguna Beach is still paradise but no one can afford to buy a home there.  Or at least that would be one explanation for the wonderful rise in new inventory and lack of response from our buyers.  This can be such a difficult area to buy into and people are not responding with enthusiasm. Starting with January in 2010, the sellers have outpaced the buyers.  The average price dropped to $1.9 million, a three month low. The median price also dropped to $1.244 million.  Of course, the typical Orange County buyer is thinking that can’t be too bad.  Laguna Beach has one of the highest gross income per capita statistics in the whole country and their real estate cycle is way above the normal.  Thank goodness someone other than the Government has money.

Laguna Beach Sales – Click here to see the report

Laguna Beach Median Price still recovering.

Categories: Coastal Single Family Homes, Laguna Beach, Laguna Beach Homes, Residential Real Estate, Single Family Homes.

This Blog has so much free information for you!

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October 4, 2010

Click on a tab to bring up a graph

When you click on the link below my comments for a city in South Orange County, a report will appear.  You can then choose one of three tabs to click. Each tab will access the graph and information by month for either the Average Price, the Median Price or the New Listings and Sold information.

Average Price Graph

This shows you the graph with the last twelve months of MLS data charted.  If you click on any of the months listed below a graph, you will see the actual listings with the addresses.

Listings for the month selected below the graph

This is how the listings appear. When you look to the right of the listings, you see:

Each listing will open a map with an arrow indicating the location

Click on a listing and a map will appear with an arrow showing the location of the home and an icon. Click on the icon.

Actual listing information for that sale

Congratulations! You now see the specific information about that sold home so you can compare it with current active listings or just to learn more about the homes that sold.

Categories: Aliso Viejo, Coastal Condominiums, Coastal Single Family Homes, Coto de Caza, Dana Point, Laguna Beach Condos, Laguna Beach Homes, Laguna Niguel, Mission Viejo Homes, Residential Real Estate, San Clemente.

Laguna Beach Sellers are willing to negotiate

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September 3, 2010

Sellers are willing to negotiate prices

Sellers in Laguna Beach have negotiated with their buyers and discounted their prices an average of 6% in August. There was a definite surge in the new listing inventory and a surge in sales to nearly the level of June and over the other 6 months of 2010.  These homes are a bargain.  Click the hyperlink below for all the details.

Click here to see the report

Designed by Tim Sainburg from Brambling Design

Categories: Coastal Single Family Homes, Laguna Beach Homes.