April 2023 | A Broker's Take on the Laguna Beach Real Estate Market

Laguna Beach real estate broker analyzes the April 2023 Laguna Beach real estate market.
"Laguna catching a bid. I am Boyd Roberts, broker of Laguna Gallery Real Estate with my take on the April Laguna Beach real estate market.
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.
But 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 and comprehensive 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.
Sunset Serenades returns to Heisler Park every Friday evening this month. Have an excellent May and thank you for joining me."

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Next time maybe make a video without wind noise sounds like you are driving in a wind tunnel talking out of a moving car.