According to the MLS, the number of homes newly listed for sale in Newport Beach during the two-week period of 9/26-10/10 was 42 homes.
According to the MLS, the number of homes newly listed for sale in Laguna Beach during the two-week period of 9/26-10/10 was 27 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 9/26-10/10 was 33 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 9/26-10/10 was 22 homes. These homes were categorized in the MLS as “backup offers,” “pending sale,” or “closed sale.”
Of the 46 new homes on the market in Newport Beach, the highest priced property was listed at $16,950,000. The lowest priced property was listed at $235,000.
Of the 25 new homes on the market in Laguna Beach, the highest priced property was listed at $7,995,000. The lowest priced property was listed at $758,000.
Hhomes 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: 59 homes in the above categories
Oct. 11, 2011, Laguna Beach Real Estate Market Update
As of Oct. 11, 8 properties have closed (3 were below $1 million, 2 were between $1 million to $2 million, and 3 were over $2 million).
1 closed sale is a foreclosure, and there were no short sales.
11 homes went into escrow thus far which is at the average pace for the year.
2 were less than $1 million, 8 were between $1 million and $2 million, and 1 is above $2 million.
The number of listings “for sale” has decreased to 299 properties. 147 are over $2 million.
8% of homes for sale are distressed properties, which is low compared to OC 35 percent overall.
There are 6 properties for sale in foreclosure which is trending down.
There are 24 short sale listings, which is consistent.
25 properties had price decreases month to date which is consistent.
Information, courtesy of Sean McCracken, agent with Surterre Properties. Data captured Oct. 11, 2011.
smccracken@surterreproperties.com ; phone 949-290-5317 www.welcometothedream.com
