May 2011 Laguna Beach Real Estate Market Update

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• As of May 25, 13 properties have closed (6 were below $1m, 5 were between $1m to $2m,1 was a $4.2m in Emerald Bay and 1 was $6m).

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

• 21 homes went into escrow thus far. Of these, 14 are less than $1m, 3 are between $1m and $2m, and 6 are above $2m.

• The number of listings for sale has steadily increased to 363 properties; 172 are over $2m.

• There are 6 properties in foreclosure for sale which has been the norm.

• There are 33 short sale listings, which is a slight increase.

• 63 properties had price decreases month to date.

Information, courtesy of Sean McCracken, agent  with Surterre Properties. Data captured March 25, 2011. Contact him at smccracken@surterreproperties.com;  or by phone at 949.290.5317. www.welcometothedream.com