According to the MLS, the number of homes newly listed for sale in Newport Beach during the two-week period of 10/10-10/24 was 60 homes.
According to the MLS, the number of homes newly listed for sale in Laguna Beach during the two-week period of 10/10-10/24 was 23 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 10/10-10/24 was 41 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 10/10-10/24 was 22 homes. These homes were categorized in the MLS as “backup offers,” “pending sale,” or “closed sale.”
Of the 60 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 $416,500.
Of the 23 new homes on the market in Laguna Beach, the highest priced property was listed at $7,295,000. The lowest priced property was listed at $315,000.
Tthe 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: 109 homes in the above categories
Laguna Beach: 64 homes in the above categories
Information Courtesy of Torelli Realty 1700 Adams Avenue #110 Costa Mesa, CA 92626 (714) 540-7355
Laguna Beach Real Estate Market Update
As of Oct. 25, 21 properties have closed (6 were less than $1 million, 6 were $1 million to $2 million, and 9 were more than $2 million). The number usually selling over $2 million is around 3 to 4 sales.
1 closed sale is a foreclosure, and there were no short sales.
16 homes went into escrow thus far which is a higher than the average pace for the year.
2 were less than $1 million, 10 were $1 million to $2 million, and 4 were more than $2 million.
The number of listings “for sale” has decreased to 297 properties. 147 are more than $2 million.
11 percent of homes for sale are distressed properties, which is low compared to 35 percent county-wide.
There are 6 properties for sale in foreclosure, which is average for the year.
There are 26 short sale listings, which is consistent.
66 properties had price decreases month-to-date, which is little higher than average.
Information, courtesy of Sean McCracken, agent with Surterre Properties. Data captured Oct. 25, 2011.
smccracken@surterreproperties.com ; phone 949-290-5317 www.welcometothedream.com
