According to the MLS, the number of homes newly listed for sale in Newport Beach during the two-week period of 10/17-10/31 was 53 homes.
According to the MLS, the number of homes newly listed for sale in Laguna Beach during the two-week period of 10/17-10/31 was 17 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 10/17-10/31 was 38 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 10/17-10/31 was 23 homes. These homes were categorized in the MLS as “backup offers,” “pending sale,” or “closed sale.”
Of the 53 new homes on the market in Newport Beach, the highest priced property was listed at $4,449,000. The lowest priced property was listed at $435,000.
Of the 23 new homes on the market in Laguna Beach, the highest priced property was listed at $16,000,000. The lowest priced property was listed at $315,000.
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: 103 homes in the above categories
Laguna Beach: 67 homes in the above categories
Information Provided by Torelli Realty.
Laguna Beach Real Estate Market Update
In October, 27 properties have closed (8 were less than $1 million, 10 $1 million to $2 million, and 9 were more than $2 million).
1 closed sale is a foreclosure, and 2 were short sales.
33 homes went into escrow.
7 were less than $1 million, 20 were $1 million to $2 million, and 6 were more than $2 million.
The number of listings “for sale” has decreased to 276 properties. 140 are more than $2 million.
10 percent of homes for sale are distressed properties, which is low compared to OC’s 35 percent county-wide.
There are 5 properties for sale in foreclosure which is down from 10.
There are 23 short sale listings, which is leveling off.
80 properties had price decreases month to date which is consistent but a higher percentage (30 percent vs. 25 percent).
Information, courtesy of Sean McCracken, agent with Surterre Properties. Data captured Nov. 1, 2011.
smccracken@surterreproperties.com ; phone 949-290-5317 www.welcometothedream.com
