Spectacular Newport Beach and its Healthy Housing Market Moving Forward
Newport Beach, CA - spectacular South Orange County city with its focus on ocean, beach, surf, harbor and boating activities
Newport Beach is one of most sought after residential and beach communities in Southern California, with homes located at and near the beach, surrounding the harbor, closed to good schools, in the hills near Pelican Crest and the bluffs at the Back Bay.
See Harbor View area homes for sale – click here for free active link.
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Newport Beach housing market update – June 18, 2010
581 homes are Newport Beach are active for sale listings.
517 of those are regular equity sale listings.
7 of the Newport Beach listings are bank owned after foreclosure (very low).
57 of the Newport Beach listings are short sales, which is less than 10% of market and one of the lowest ratios of short sales to equity in Orange County.
Average list price:
- Average list price for the Newport Beach homes now for sale is $2,304,000.
Average sold price:
- 69 Newport Beach homes sold during May 2010, with average sold price of $1,393,000, and those sold homes had 116 average days on the market.
High End Market:
- The high end market of homes for sale at Newport Beach more than average sold price is slow with lots of market time, and owners need to be patient to find the right buyers during this challenging market.
125 Newport Beach homes are now in pending purchase contract situation. With more homes in pending contract situation than sold the last 30 days, the trend shows good buyer activity.
Newport Beach sellers who list their homes for sale correctly relative to market demand, and especially if they have a home in the range under $1.3M, can expect to sell the home at average market time about 3 months. This favors sellers. The higher the Newport Beach home listing price, the market is slower and favors buyers.
See Seashore and Oceanfront Homes For Sale at Newport Beach – click here for free active link.
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Harrison K. Long, REALTOR® & broker, Explore Group, Coldwell Banker Previews, Irvine, CA. CA DRE #01410855. ExploreProperties@gmail.com. 949-854-7747. National Association of Realtors, California Association of Realtors, and Orange County Association of Realtors. California State Bar Association #69137.
posted by Harrison K. Long @ 11:18 PM
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