3 Interesting Developments in February
Category : Laguna Beach Real Estate
The less than a million market is ‘on fire’
1. Multiple offers on homes less than $1m – I put offers this month on 4 places that had multiple offers. One foreclosure had 12 offers. This requires a different mindset when going through the buying process. Let’s discuss.
2. There were 30 sales in February, which is the highest in 6 years for the month of February. Also, 68 homes in escrow is the highest number in February ever. 18 were less than a million CMA Page Printable Map 7 were between $1m – $2m CMA Page Printable Map 5 were over $2m CMA Page
3. New listings have been slow to come on the market, especially for the spring season. Inventory is Really low. There are 236 properties for sale. The lowest since 2006. 56 are less than $1m Client Short Page, 69 are between $1m and $2m Client Short Page, 112 over $2m Client Short Page