Newport Beach CA Real Estate Shows Positive Home Selling Territory
258 Newport Beach homes are listed for sale as of today – May 30, 2013 – with average list price at above over $3 million.
87 Newport Beach homes went into pending sale status during the past 30 days.
So average market time that it would take to sell all Newport Beach homes at this rate is 2.8 months – which is faster than 4 months average same time one year ago.
Newport Beach Homes Sold so far This Year
380 Newport Beach homes have sold so far this year – as of May 30, 2013, according to CRMLS – with average sold price of $1,530,505.
The big difference between average sold price and average list price at Newport Beach is the result of so many homes sold in the buyer sweet spot of under $1 million.
Home sellers at Newport Beach asking more than $3 million still need to be very patient.
Highest sale so far this year at Newport Beach was $17,500,000 at 27 Harbor Island Drive.
Comparison to last year Newport Beach sales
During same time last year January 1 to May 30, 2012 – 336 Newport Beach homes sold – with average sold price of $1,283,908.
So Newport Beach average home selling price is up more than 19 percent this year as compared with 2012.
Newport Beach doesn’t have many distresed properties either recently sold or now on the market. Only 4 Newport homes now listed for sale are either short sales or REO after foreclosure.
What Newport Beach home sellers are seeing
Newport Beach home owners with equity are seeing lots more buyers this year. Markets still offer low mortgage interest rates for buyers. Now during 2013 is to be a great opportunity time for Newport Beach home sellers.