Torelli and McCracken June Market Update

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According to the MLS, the number of homes newly listed for sale in Newport Beach during the two-week period of 6/6-6/20/2011 was 66 homes. Of these new homes on the market, the highest priced property was listed at $26,500,000. The lowest priced property was listed at $295,000.

According to the MLS, the number of homes newly listed for sale in Laguna Beach during the two-week period of 6/6-6/20/2011 was 41 homes.  Of these new homes on the market, the highest priced property was listed at $10,950,000. The lowest priced property was listed at $590,000.

According to the MLS, the number of homes that went into escrow and/or closed in Newport Beach for the two-week period 6/6-6/20/2011 was 37 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  6/6-6/20/2011 was 24 homes. These homes were categorized in the MLS as “backup offers,” ‘”pending sale,” or “closed sale.”

Data captured on June 21, 2011. Information provided by Torelli Realty. www.torellirealty.com

Laguna Beach Real Estate Market Update

 • As of June 22, 16 properties have closed (7 were below $1m, 6 were between $1m to $2m, 3 were over $2m.

• 0 closed sales were foreclosures, and 3 were short sales.

• 25 homes went into escrow thus far.

• 8 were less than $1m, 7 were between $1m and $2m, and 10 are above $2m.

• The number of listings for sale has leveled at 360 properties; 162 are over $2m.

• There are 9 properties in foreclosure for sale which is a little higher than the norm.

• There are 31 short sale listings, which is consistent.

• 56 properties had price decreases month to date.

Information, courtesy of Sean McCracken, agent with Surterre Properties. Data captured June 22, 2011. smccracken@surterreproperties.com; phone 949.290.5317. www.welcometothedream.com