According to the MLS, the number of homes newly listed for sale in Newport Beach during the two week period of 8/2/2011-8/16/2011 was 62 homes.
According to the MLS, the number of homes newly listed for sale in Laguna Beach during the two week period of 8/2/2011-8/16/2011 was 22 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 8/2-8/16 was 36 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 8/2-8/16 was 21 homes. These homes were categorized in the MLS as “backup offers,” “pending sale,” or “closed sale.”
Of the 62 new homes on the market in Newport Beach, the highest priced property was listed at $7,995,000. The lowest priced property was listed at $354,900.
Of the 22 new homes on the market in Laguna Beach, the highest priced property was listed at $7,995,000. The lowest priced property was listed at $374,500.
A look at 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.” These homes are currently either active listings, accepting backup offers or pending sales.
Newport Beach: 121 homes in the above categories
Laguna Beach: 69 homes in the above categories
August 16, 2011 Laguna Beach Real Estate Market Update
As of Aug 16, 8 properties have closed (4 were below $1m, 1 was between $1m to $2m, 3 were over $2m
0 closed sales were foreclosures, and 3 were short sales
20 homes went into escrow thus far
8 were less than $1m, 7 were between $1m and $2m, and 5 are above $2m
The number of listings ‘for sale’ has leveled at 335 properties. 159 are over $2m.
10% of homes for sale are distressed properties, which is low compared to OC 35%
There are 9 properties in foreclosure for sale.
There are 24 short sale listings, which is consistent.
48 properties had price decreases month to date.
Information, courtesy of Sean McCracken, agent with Surterre Properties. Data captured August 16, 2011.
smccracken@surterreproperties.com ; phone 949-290-5317 www.welcometothedream.com
