According to the MLS, the number of homes newly listed for sale in Newport Beach during the two-week period of 9/12/11-9/26/11 was 40 homes.
According to the MLS, the number of homes newly listed for sale in Laguna Beach during the two-week period of 9/12-9/26 was 25 homes.
According to the MLS, the number of homes that went into escrow and/or closed in Newport Beach for the two-week period of 9/12-9/26 was 45 homes. These homes were categorized in the MLS as “backup offers,” “pending sale,” or “closed sale.”
According to the MLS, the number of homes that went into escrow and/or closed in Laguna Beach for the two-week period of 9/12-9/26 was 18 homes. These homes were categorized in the MLS as “backup offers,” “pending sale,” or “closed sale.”
Of the 40 new homes on the market in Newport Beach, the highest priced property was listed at $6,295,000. The lowest priced property was listed at $279,000.
Of the 25 new homes on the market in Laguna Beach, the highest priced property was listed at $17,250,000. The lowest priced property was listed at $465,500.
The number of homes identified in the MLS as being “short sale offer submitted,” “short sale/subject to lender approval,” ”in the foreclosure process,” “notice of default,” “REO/Lender-owned,” or “REO Offer(s) submitted,” currently either active listings, accepting backup offers or pending sales:
Newport Beach: 112 homes in the above categories
Laguna Beach: 64 homes in the above categories
Sept 27, 2011 Laguna Beach Real Estate Market Update
As of Sept 27, 20 properties have closed (5 were below $1 million, 12 were between $1 million to $2 million, and 3 were over $2 million)
1 closed sale is a foreclosure, and 2 were short sales
22 homes went into escrow so far this month, which is off the pace of the record high of 40 last month
4 were less than $1 million, 7 were between $1 million and $2 million, and 8 are above $2 million
The number of listings “for sale” has decreased to 314 properties. 148 are over $2 million.
8 percent of homes for sale are distressed properties, which is low compared to OC’s countywide 35 percent
There are 8 properties for sale in foreclosure, which is consistent.
There are 23 short-sale listings, which is trending down.
65 properties had price decreases month to date, which is consistent.
Information, courtesy of Sean McCracken, agent with Surterre Properties. Data captured Sept 27, 2011.
smccracken@surterreproperties.com ; phone 949-290-5317 www.welcometothedream.com
