Saturday, September 11, 2010

Newport Beach Homes and Housing Market Update with Average Selling Prices

NEWPORT BEACH at South Orange County, CA, housing market update shows stable or similar buyer activity for August 2010 as compared with last year.  Newport Beach homes sold August 2010

44 Newport Beach homes were sold during August, 2010.

Only 2 of those sold at Newport Beach homes were bank owned REOs after foreclosure.

And only 2 of those sold were short sales (less than 1% of market).

40 of the Newport Beach homes were standard equity sales.

If you guessed the average sold price for Newport Beach homes during August 2010 was $1,764,000, you were right.

See Newport Heights area home listings - click here for free active link.

Newport Beach housing market

See Big Canyon at Newport Beach homes now listed - click here for free active link

Newport Beach homes sold August 2009Newport Beach REALTORs and agents sold 47 homes during August 2009.   

So August 2010 was about the same in sales as August 2009.

With such high list prices, we didn't expect Newport Beach to experience a drop off after ending of homebuyer tax credits.

 

 

579 Newport Beach homes are now listed for sale, and average list price for those is $2,403,992.  Since the average sold price there is $1,764,000, the market favors buyers who have good choices.

Newport Harbor aerial

See NEWPORT BEACH CONDO HOME FOR SALE LISTINGS - click here for free active link.

  • 195 of the Newport Beach listed homes are attached condos, and the others are single family detached. 
  • 10 Newport Beach homes now listed are bank owned REOs after foreclosure. 
  • 46 of those Newport Beach homes now listed are short sales (an increasing percentage of this market).
  • 140 Newport Beach homes now listed are at backup or pending.

See Harbor View area homes LISTED at Newport Beach - click here for free active link.

MARKET TIME at Newport Beach homes and housing - Based upon high listing prices at Newport Beach homes, current sale rate, it would theoretically take about 8.5 months for the market to sell all Newport Beach homes now listed.  This is one of the coolest markets with high prices at Orange County. 

See Balboa Peninsula home listings at Newport Beach - click here for free active link 

NEWPORT BEACH crushes as one of the most popular communities in Southern California for lifestyle, beach surf and sand, residential living and investment, with good places for having fun, work and employment centers, solid demand for housing, and continues to be sought after by people who want and need homes. 

See Balboa Island home listings at Newport Beach housing market - click here for free active link.

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Information source: Southern California Multiple Listing Service

If you have questions about Newport Beach homes and properties, please contact us.  Thank you.

Harrison K. Long @ Live At Orange County
"Helping People, Moving Forward, Developing Positive Relationships and Protecting Property Values" 
Business Solutions, REALTOR® and broker associate, Coldwell Banker Residential Brokerage - 949-854-7747 (telephone) - CA DRE 01410855

 
Newport Beach Homes and Housing Market Update with Selling Prices August 2010

Posted via email from Explore OC Homes

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