In this December 2017 issue of the Laguna Beach Real Estate Market Report provided by Brian Jones, Laguna Beach Realtor, discover what's trending: how many listings are hitting the market? How long do houses stay on the market before selling? What is the average home value in Laguna Beach this month? And what does this mean for you. Here's the deal.
Laguna Beach Real Estate Market Report - December 2017
Laguna Beach housing market showed a slowing in rising prices through November. Property prices paused as we step into the winter season. November saw a total of 32 sold homes down from 42 in October but close to the yearly average of 33.5. The average sold price in November was $2,255,000 down from $2,471,000 the previous month.
There are currently 214 active listings in Laguna Beach which is below the yearly average of 227 and has lead to a 6.7 month supply of inventory. A normal market that doesn't favor either buyers or sellers is about a 6 month supply of inventory. A 6.7 month supply leans in favor of buyers, however, Laguna Beach is a different market and we see many sellers who don't have to sell and will wait for prices to come to them.
From November of last year to November of this year, the average sales price showed little change and stayed flat at -0.04 percent.
Here is a quick summation for November 2017
Active listings: 214
In Escrow: 36
Months Supply: 6.7
Average Sales Price" $2,255,000
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