According to the MLS, the number of homes newly listed for sale in Newport Beach during the two-week period of 6/27-7/11/2011 was 59 homes. Of these new homes on the market, the highest priced property was listed at $7,995,000. The lowest priced property was listed at $54,900 LH.
According to the MLS, the number of homes newly listed for sale in Laguna Beach during the two-week period of 6/27-7/11/2011 was 29 homes. Of these new homes on the market, the highest priced property was listed at $14,995,000. The lowest priced property was listed at $545,000.
According to the MLS, the number of homes that went into escrow and/or closed in Newport Beach for the two-week period 6/27-7/11/2011 was 53 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 6/27-7/11/2011 was 18 homes. These homes were categorized in the MLS as “backup offers,” “pending sale,” or “closed sale.”
Data captured July 11, 2011. Information provided by Torelli Realty, www.torellirealty.com.
Laguna Beach Real Estate Market Update
• As of July 12, 9 properties have closed (6 were below $1m, 2 were between $1m to $2m,1 was for $6m).
• 2 closed sales were foreclosures and 1 was a short sale.
• 5 homes went into escrow thus far; 2 were less than $1m 1 was between $1m and $2m and 2 were above $2m.
• The number of listings for sale has leveled at 348 properties; 168 are over $2m.
• 12% of homes for sale are distressed properties, which is low compared to OC’s 35%.
• There are 9 properties in foreclosure for sale.
• There are 28 short sale listings, which is consistent.
• 30 properties had price decreases month to date.
Information, courtesy of Sean McCracken, agent with Surterre Properties. Data captured July 12, 2011. smccracken@surterreproperties.com; phone 949.290.5317. www.welcometothedream.com
