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.

October 2011 Laguna Beach Condo Sales Stabilize

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November 3, 2011
New Inventory and Sales Stabilize Market

For the last two months the new inventory and the sales have been equal.  Three new condos came on the market and three condos sold for both September and October.  The average days on market for two of the three condos was less than 60 days, and one condo was on the market for 228 days before it was sold.  The two quick sales were the more expensive condos, one sold for $660,000 but was only listed for $639,000.  It was bid up. The other condo was listed for almost $1 million dollars ($979,000) and sold for $935,000.  Impressive.  There is not much inventory in Laguna Beach condominiums so you need to act quickly if you want one.

Average Sales Price Lowest in the Last 4 Months

 The average price dropped to $666,666 (interesting number) but there were only three sales.  There are so few condominium sales in any month in Laguna Beach, the average can fluctuate widely.  Three months in the last year averaged over a million dollars in sales.

 

Very Few Condos Come on the Market In Laguna Beach in any Month

 

With only three sales, the one in the middle is the Median Price.  This month had two sales in the higher end which pushed this month’s price up over the last three months sales.

For more information – Click here to see the report

 

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

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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August 2011 Laguna Beach Condo Sales Return to Normal

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September 18, 2011
More Condominium Sales than New Inventory

 This is good news.  Condominium sales had been awful for several months of this year. In May there were no sales. Then the buyers started coming back into the market. There were only five sales in August but that is normal.  Fortunately the new inventory was less.  And the sellers are particularly happy with the buyer of 31423 Coast Hwy. This condo sold for $3.3 million. It had been on the market almost two years and the listing price was just about $4 million.   Obviously the buyer negotiated a great deal and the sellers were ready to accept the offer. Congratulations to everyone. That view from the 11th floor is spectacular.

 

The Average Price hit a new high for the last year

 The sale for $3.3 million pushed the average price up but not spectacularly.  There are some awesome condominiums in this beautiful community of Laguna Beach. This is the highest average price for the last year but the average price is usually around one million.  If you have the money, these condominiums are a great investment.

Median Price Drops to $540,000

 The median price tells you that of the five sales, most sales were for more modest and very affordable condominiums. There is a good inventory of those for you beach buffs with smaller budgets.  If you love Laguna Beach, then this is the time to buy.  It doesn’t get better than the bottom of the market. Trust me.

For more details on the properties that sold for the last twelve months – Click here to see the report

 

Categories: Coastal Condominiums, Laguna Beach, Laguna Beach Condos, Residential Real Estate.

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 Sales Drop

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June 3, 2011

Fifty-four new Properties - Fifteen Sold in May

April is always the slow Spring month but not this year. Every month 20-25 homes were sold, then came May (15).  There were some interesting sales though. 4 Mar Vista sold for $6 million, 502 Emerald Bay sold for $4.2 million and 116 Dumond sold for $3 million.  The distressing news is the number of new homes on the market – 54!  Last month 58 new homes came on the market.  Buyers can have their pick.  This is unprecedented in Laguna Beach.  If you ever thought of living there, this is the time to buy.  Rates are the among the lowest ever.  See your favorite lender.  Smaller lenders are more flexible and have the same rates, ask me if you want a referral.

Laguna Beach Median Sold Price $1,150,000

Good News!   The increased median sold price reflects the number of expensive homes sold in the small group of sales.

Laguna Beach Average Price $1,784,700 Continues to Climb

More Good News!  The average sold price has steadily increased every month since February.  The sellers are giving the buyers an 8% discount on the last listed price which is unchanged from April and average for 2011.  This is a good time to buy in a very exclusive community.

For all the details for the last 12 months -Click here to see the report

Designed by Tim Sainburg from Brambling Design

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

Sales of Laguna Beach Single Family Homes Down Slightly

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May 13, 2011

Homes Sales Decline Slightly over the First Quarter of 2011

December of 2010 was the best month of the last 11.  Sales steadily declined from a top of 33 for December to 18 in April.  April is usually slow because it is tax month. Income taxes and property taxes hit our buyers and deflate any interest in moving. Looking on the bright side, 111 Emerald Bay sold for $5,460,000.  The seller wisely gave the buyer a 16% discount. It had been on the market for 624 days. In fact, five of the 18 sales were on the market for 321 – 470 days.

For details -Click here to see the report

The Average Price was down a little at $1,418,211

 

The average price shifted down a little to $1,418,211 from $1,447,375 the month before. What is of most concern to the sellers is the increasing number of homes for sale.  In 2011, 205 homes came on the market and only 85 were sold.  The 120 unsold homes increased an uncomfortably large inventory left from 2010.  Financing can be a problem, please send me an email or give me a call for a recommendation on a lender.  There are million dollar+ loans available.

Median Price Drops to $810,000

 

The drop in the median price was attributable to the number of homes sold for under $800,000.  One home sold for $465,000.  You can find some great buys for less than a million.  Don’t forget to shop in Laguna Beach if you want a home.  This is the perfect market to get a bargain!

Designed by Tim Sainburg from Brambling Design

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

Laguna Beach Condo Market Still Recovering

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March 4, 2011

Laguna Beach Condos still slightly outpace sales

The condominium market in Laguna Beach is tight.  Over the last year there were never more than 9 condos placed on the market in a month.  Most of the year it was less than 7. Even those were not moving quickly. The Average Days on Market was 4 months to 11 months. Most of these condos have views and they are more expensive than inland properties, but well worth it.

Click here to see the report

Average Price hits $628,750

The average price on condos has been all over the map. Some short sales and foreclosures have sold.  You may be able to get in if you keep watching the listings the banks are getting very tough with delinquent borrowers.

Categories: Coastal Condominiums, Laguna Beach, Laguna Beach Condos, Residential Real Estate.

Laguna Beach New Inventory Spikes Up

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March 3, 2011

58 New Properties on the Market 22 Sales for February

Laguna Beach is starting to return to the levels early in 2010 for homes coming onto the market.  This fresh inventory was only partially offset by the sales (22).  The average price was $1,247,126 which was a dramatic decrease from prior months but that was because some smaller, lower priced homes were sold.  Many multi-million dollar homes sold too.  Emerald Bay had a $3.2 million dollar sale.  The median price hovered at almost $1.1 million.

Click here to see the report

Laguna Beach Homes Median Price for February $1,082,500

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

New Inventory for Laguna Beach Homes Way Up!

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February 21, 2011

6 Month High for New Inventory

This is the time to shop for your resort community home in Laguna Beach.  Fifty new homes hit the market in January.  The sellers are coming back.  There should be something for every price range now.  This is the very best time of the year for enjoying an ocean and hills view.  The air is crystal clear and the hills verdant.  Interest rates took a slight move upward but are still very affordable.  The Federal Reserve is doing their part.  If you find some of the big banks are too strict with their underwriting, give the smaller firms your business.  They don’t have to recoup the losses others suffered and are still experiencing. They want to lend money.  Please give me a call or send an email if you need a recommendation.

Click here to see the report

Average price hits 1.9 million

Designed by Tim Sainburg from Brambling Design

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

Laguna Beach Condos regain steam!

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February 21, 2011

Sales rebound from December

It has been a slow 12 months for sales of Laguna Beach Condos. Only a few have sold in any one month and none in April.  Only five residences sold in January but that was a good month. There is ample inventory to choose from right now and the views are spectacular this time of year.  Resort areas are always hardest hit in a recession.  Yet the sales show the median price at one million dollars.  Not everyone suffered over the last three years.  Let’s hope to see more of these buyers in 2011.  Laguna Beach is considered a paradise by many of its residents.

Click here to see the report

Median price for January was $1,000,000

Designed by Tim Sainburg from Brambling Design

Categories: Coastal Condominiums, Laguna Beach, Laguna Beach Condos.

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.