July 2011 Laguna Beach Real Estate Market Update
As of July 31, 30 properties had closed, which is above the monthly average of 27 closed sales in 2011
Average price – $1,521,450; Median Price – $1,007,500
15 closed sales were less than $1 million, 7 were between $1 million and $2 million, 8 were more than $2 million (this is double the average of 4 sales of more than $2 million)
25% of closed sales were distressed properties – 2 closed sales were foreclosures, and 5 were short sales
19 homes went into escrow thus far which is lower than the 2011 monthly average
9 were less than $1 million, 5 were between $1 million and $2 million, and 5 were more than $2 million
The number of listings “for sale” has leveled at 338 properties, which is trending down. 183 are over $2 million which is trending up.
11% of homes for sale are distressed properties, which is low compared to OC’s 35% overall
There are 10 properties in foreclosure for sale.
There are 27 short-sale listings, which is consistent.
100 properties had price decreases – way up
August 8, 2011 Laguna Beach Real Estate Market Update
As of Aug 8, 4 properties have closed (2 were less than $1m, 2 were more than $2 million)
No closed sales were foreclosures, and 2 were short sales
10 homes went into escrow thus far
3 were less than $1 million, 2 were between $1 million and $2 million, and 5 were more than $2 million
The number of listings “for sale” has leveled at 335 properties. 155 are over $2 million.
11% of homes for sale are distressed properties, which is low compared to OC’s 35% overall
There are 10 properties in foreclosure for sale.
There are 27 short-sale listings, which is consistent.
29 properties had price decreases, month-to-date.
Information, courtesy of Sean McCracken, agent with Surterre Properties. Data captured August 9, 2011.
smccracken@surterreproperties.com ; phone 949-290-5317 www.welcometothedream.com
