According to the MLS, the number of homes newly listed for sale in Newport Beach during the two-week period of 8/22-9/5 was 47 homes.
According to the MLS, the number of homes newly listed for sale in Laguna Beach during the two-week period of 8/22-9/5 was 27 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 8/22-9/5 was 50 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 8/22-9/5 was 20 homes. These homes were categorized in the MLS as “backup offers,” “pending sale,” or “closed sale.”
Of the 54 new homes on the market in Newport Beach, the highest priced property was listed at $13,995,000. The lowest priced property was listed at $314,900.
Of the 23 new homes on the market in Laguna Beach, the highest priced property was listed at $15,000,000. The lowest priced property was listed at $380,000.
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: 114 homes in the above categories
Laguna Beach: 64 homes in the above categories
August 31 Laguna Beach Real Estate Market Update
As of Aug 23, 18 properties have closed (9 were below $1 million, 4 were $1 million to $2 million, 5 were more than $2 million).
No closed sales were foreclosures; 5 were short sales.
40 homes went into escrow this month.
20 were less than $1 million, 10 were between $1 million and $2 million, and 10 are above $2 million.
The number of listings “for sale” has leveled at 325 properties. 152 are over $2 million.
8 percent of homes for sale are distressed properties, which is low compared to the 35 percent countywide rate.
There are 6 properties in foreclosure for sale.
There are 19 short-sale listings, which is trending down.
79 properties had price decreases month to date.
Information, courtesy of Sean McCracken, agent with Surterre Properties. Data captured August 31, 2011.
smccracken@surterreproperties.com ; phone 949-290-5317 www.welcometothedream.com
