Dover Shores, Newport Beach Market Update

Todays median list price in Newport Beach zip code 92660 is $1,595,000. Inventory is tightening and days on market is falling. Prices continue to drop and so it continues to be a buyers market. There is plenty of activity these days but as we come to the holidays sales usually begin to slow down. If you are a buyer this means even better news for you because as desperate sellers become tired of being on the market they are ready to lower their price even more. On the down side many sellers take their homes off the market, therefore you will have less to select from.

In the Dover Shores neighborhood prices are the lowest I have seen in years. Presently the average sales price is around $1,360,000. Dover Shores is a very eclectic neighborhood, prices can range from $1,000,000 to $5,000,000. Just today a new listing came on for $1,099,000 and earlier in the week one for $4,999,000.

Presently there are 33 homes available for sale, 9 accepting back up offers, 5 pending sales and in the past 90 days 9 have sold. The average sales price has been $1,369,000 which makes it $489.00 a square foot! These are great buys! Feel free to contact me with any questions regarding Dover Shores or any Newport Beach communities.