Newport Beach Real Estate Statistics

Everyone wants to know what real estate is doing these days and I find it interesting how folks I speak with everyday believe things are slow. Well, Newport Beach real estate statistics prove differently. This week the median list price is slightly higher than last week in the 92660 zip code. Today the median price is at $1,682,500. Demand has been increasing and the days on market is trending downward. These are positive signs for the real estate market.

Homes sales have been exceeding inventory lately. Since it is still a buyers market due to extra inventory, prices have not started to climb yet. However if supply and demand continue on the same path we are likely to see prices climb.

Homes priced around $800,00-$1,250,000 seem to be the hot sales these days in Newport Beach. Just a few years ago you would be lucky to get in Newport Beach at $1,200,000. Considering the state of our economy and the drop in real estate the last couple of years still about 25% of sellers are over priced.

For more information on Newport Beach real estate or homes for sale in Newport Beach feel free to contact me.