According to the MLS, the number of homes newly listed for sale in Newport Beach during the two-week period of 7/11-7/25/2011 was 53 homes. Of these new homes on the market, the highest priced property was listed at $7,995,000. The lowest priced property was listed at $120,000. (This was a LH manufactured home.)
According to the MLS, the number of homes newly listed for sale in Laguna Beach during the two-week period of 7/11-7/25/2011 was 23 homes. Of theseew homes on the market, the highest priced property was listed at $16,800,000. The lowest priced property was listed at $475,000.
According to the MLS, the number of homes that went into escrow and/or closed in Newport Beach for the two-week period 7/11-7/25/2011 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 7/11-7/25/2011 was 14 homes. These homes were categorized in the MLS as “backup offers,” “pending sale,” or “closed sale.”
Laguna Beach Real Estate Market Update
• As of July 26, 23 properties have closed:11 were below $1 millio, six were $1-2 million, six were more than $2 million.
• Two closed sales were foreclosures, and four were short sales.
• Fifteen homes went into escrow thus far: five at less than $1 million, five at $1-2 million, and five at more than $2 million.
• The number of listings for sale has leveled at 347 properties,167 at more than $2 million.
• Eleven percent of homes for sale are distressed properties, compared to OC’s 35 percent overall.
• There are 10 properties in foreclosure for sale.
• There are 27 short-sale listings, which is consistent.
• Sixty-five properties had price decreases, month to date.
Information, courtesy of Sean McCracken, agent with Surterre Properties. Data captured July 27, 2011. smccracken@surterreproperties.com; phone 949.290.5317. www.welcometothedream.com
