Laguna Beach Single Family Home Market Report: December 2013

Property Sales

December property sales were 31, down from 32 in December of 2012 and 14.8% higher than the 27 sales last month. December 2013 sales were at a mid level compared to December of 2012 and 2011. December YTD sales of 366 are running -3.4% behind last year’s year-to-date sales of 379.

 

Prices
The median sales price in December was $1,470,000, down -5.5% from $1,555,000 in December of 2012 and down -27.0% from $2,015,000 last month. The average sales price in December was $1,748,161, down -38.1% from $2,824,156 in December of 2012 and down -22.8% from $2,264,663 last month. December 2013 ASP was at the lowest level compared to December of 2012 and 2011.

 

Inventory & MSI
The total inventory of properties available for sale as of December was 167, down -8.7% from 183 last month and up 3.7% from 161 in December of last year. December 2013 Inventory was at a mid range compared to December of 2012 and 2011.

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The December 2013 MSI of 5.4 months was at a mid range compared with December of 2012 and 2011.

 

Market Time
The average Days On Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a buyer’s market, a downward trend a move towards more of a seller’s market. The DOM for December was 158, up from 97 days last month and up from 127 days in December of last year. The December 2013 DOM was at its highest level compared with December of 2012 and 2011.

 

Selling Price Per Square Foot
The selling price per square foot is a great indicator for the direction of property values. Since median sales price and average sales price can be impacted by the ‘mix’ of high or low end properties in the market, the selling price per square foot is a more normalized indicator on the direction of property values. The December 2013 selling price per square foot of $834 was down -18.3% from $1,021 last month and down -11.1% from $938 in December of last year.

 

Selling Price vs Listing Price
The selling price vs listing price reveals the average amount that sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a buyer’s market exists, a ratio at or above 100% indicates more of a seller’s market. The December 2013 selling price vs list price of 94.2% was down from 94.7% last month and down from 96.2% in December of last year.

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