According to the MLS, the number of homes newly listed for sale in Newport Beach during the two-week period of 10/31-11/14 was 45 homes.
According to the MLS, the number of homes newly listed for sale in Laguna Beach during the two-week period of 10/31-11/14 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 10/31-11/14 was 31 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 10/31-11/14 was 17 homes. These homes were categorized in the MLS as “backup offers,” “pending sale,” or “closed sale.”
Of the 43 new homes on the market in Newport Beach, the highest priced property was listed at $13,850,000. The lowest priced property was listed at $299,000.
Of the 21 new homes on the market in Laguna Beach, the highest priced property was listed at $19,995,000. The lowest priced property was listed at $707,000.
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: 106 homes in the above categories
Laguna Beach: 68 homes in the above categories
Laguna Beach Real Estate Market Update
As of Nov. 15, 11 properties have closed (4 were less than $1 million, 3 were $1 million to $2 million, and 4 were more than $2 million).
There was one short sale and no foreclosures.
11 homes went into escrow.
9 were less than $1 million and 2 were more than $2 million.
The number of listings “for sale” has decreased to 281 properties. 144 are more than $2 million.
11 percent of homes for sale are distressed properties, which is low compared to 35 percent countywide.
There are 7 properties for sale in foreclosure, which is consistent.
There are 24 short sale listings, which is consistent.
33 properties had price decreases month-to-date, which is consistent.
Information, courtesy of Sean McCracken, agent with Surterre Properties. Data captured Nov.15, 2011 from the SoCal mls.
smccracken@surterreproperties.com ; phone 949-290-5317 www.welcometothedream.com
