What a Difference Five Years Makes!
I like data. And statistics. Sometimes for kicks I’ll run a couple reports and do some comparisons of average home prices in Laguna Beach. You’re right, maybe I should get a life…
Anyway, this caught me off guard, and I thought it was worth sharing. While working on valuing a Laguna Beach property that last sold in 2011, I was looking at the price then versus what it is worth now. Surprised by the increase, I decided to do a full comparison of EVERY sale of single family homes in Laguna Beach for 2011 versus 2016. Here’s what I came up with:
Avg. Price Avg. SqFt Avg $/Ft Units Sold
2011 $1,738,000 2,393 $726/ft 285
2016 $2,635,000 2,280 $1,156/ft 315
That’s a 59% increase in five years, or almost 12% per year! Your 401K probably did not do as well…