Market View: April 15, 2011 Newport Beach

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April 2011 Real Estate Market Update
According to the MLS, the number of homes newly listed for sale in Newport Beach during the two-week period of 3/21-4/4/2011 was 63 homes. Of these new homes on the market, the highest priced property was listed at $5,675,000.

 

The lowest priced property was listed at $360,360.
According to the MLS, the number of homes newly listed for sale in Laguna Beach during the two0-week period of  3/21-4/4/2011 was 41 homes. Of these new homes on the market, the highest priced property was listed at $16,750,000.

 

The lowest priced property was listed at $369,000.
According to the MLS, the number of homes that went into escrow and/or closed in Newport Beach for the two-week period of  3/21-4/4/2011 was 39 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  3/21-4/4/2011 was 20 homes. These homes were categorized in the MLS as “backup offers,” “pending sale,” or “closed sale.”

DATA CAPTURED APRIL 5, 2011 AND PROVIDED BY TORELLI REALTY
• As of April 6, 3 properties have closed (1 was below $1m, 1 was a $3m short sale, and 1 was $3.8m in North Laguna.)
• 1 closed was a short sale and 1 was a foreclosure.
• There is fairly strong sales activity with 6 homes going into escrow thus far.
• 4 are below $1m, 2 are between $1m and $2m and 1 is above $2m.
• The number of listings “for sale,” is moving up, at 315 properties. 161 are over $2m.
• There are 4 properties in foreclosure for sale which is down from 13 over the last few months.
• There are 31 short sale listings, which is consistent.
12 properties had price decreases month to date, which is trending up quite a bit.

Information, courtesy of Sean McCracken, agent with Surterre Properties. Data captured April 6, 2011. smccracken@surterreproperties.com; phone 949.290.5317. www.welcometothedream.com