Torelli McCracken Market Stats

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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 6/13-6/27/2011 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 6/13-6/27/2011 was 31 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 $375,000.

According to the MLS, the number of homes that went into escrow and/or closed in Newport Beach for the two-week period 6/13-6/27/2011 was 33 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 6/13-6/27/2011 was 23 homes. These homes were categorized in the MLS as “backup offers,” “pending sale,” or “closed sale.”

Laguna Beach Real Estate Market Update

• As of June 30, 25 properties have closed (10 were below $1m, 9 were between $1m to $2m and 6 were over $2m).

• 2 closed sales were foreclosures, and 5 were short sales, 4 of which were less than $1m.

• 37 homes went into escrow thus far; 15 were less than $1m, 11 were between $1m and $2m, and 11 are above $2m.

• The number of listings for sale has leveled at 337 properties; 161 are over $2m.

• 10% of homes for sale are distressed properties, which is low compared to the OC’s 35%.

• There are 10 properties in foreclosure for sale which is a little over the norm.

• There are 28 short sale listings, which is consistent.

• 75 properties had price decreases month to date. This is 23% of active listings.

 

Information, courtesy of Sean McCracken, agent  with Surterre Properties. Data captured July 1, 2011. smccracken@surterreproperties.com; phone 949.290.5317. www.welcometothedream.com