According to the MLS, the number of homes newly listed for sale in Newport Beach during the two-week period of 10/3-10/17 was 46 homes.
According to the MLS, the number of homes newly listed for sale in Laguna Beach during the two-week period of 10/3-10/17 was 29 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 10/3-10/17 was 37 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 10/3-10/17 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 $6,300,000. The lowest priced property was listed at $235,000.
Of the 29 new homes on the market in Laguna Beach, the highest priced property was listed at $7,499,500. The lowest priced property was listed at $450,000.
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: 105 homes in the above categories
Laguna Beach: 60 homes in the above categories
Information provided by Torelli Realty
Oct. 18, 2011 Laguna Beach Real Estate Market Update
As of Oct. 17, 14 properties have closed (3 were less than $1 million, 5 were between $1 million to $2 million, and 6 were more than $2 million).
1 closed sale is a foreclosure, and there were no short sales.
16 homes went into escrow thus far, which is higher than the average pace for the year.
2 were less than $1 million, 10 were between $1 million and $2 million, and 4 were more than $2 million.
The number of listings “for sale” has decreased to 295 properties. 146 are more than $2 million.
11 percent of homes for sale are distressed properties, which is low compared to OC’s countywide rate of 35 percent.
There are 7 properties for sale in foreclosure, which is average for the year.
There are 26 short sale listings, which is consistent.
44 properties had price decreases month-to-date, which is higher than average.
Information, courtesy of Sean McCracken, agent with Surterre Properties. Data captured Oct. 17, 2011.
smccracken@surterreproperties.com ; phone 949-290-5317 www.welcometothedream.com
