Market Stats: Torelli and McCracken

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Laguna Beach Real Estate Market Update

• 16 properties have closed (6 were below $1m, 6 were between $1m to $2m,1 was a $4.2m in Emerald Bay, 1 was $6m) – down from the 27 average for the last few months.

• 2 closed sales were foreclosures, and 2 were short sales.

• 28 homes went into escrow thus far – a slight decrease.

• 16 were less than $1m, 6 was between $1m and $2m, and 6 are above $2m.

• The number of listings for sale has leveled at 358 properties; 174 are over $2m.

• There are 8 properties in foreclosure for sale which has been the norm.

• There are 32 short sale listings, which is consistent.

• 76 properties had price decreases month to date – a slight increase.

Information, courtesy of Sean McCracken, agent with Surterre Properties. Data captured May 31, 2011. smccracken@surterreproperties.com; phone 949.290.5317. www.welcometothedream.com