Newport Beach Real Estate Report

Newport Beach Real Estate Report

South Orange County Real Estate

November 2012

Newport Beach Real Estate at a Glance:   Volume has been fairly consistent in Newport Beach with a reasonable number of transactions every month. Active inventory is very high relative to the average number of monthly transactions for detached homes and higher than demand for attached homes heading into the holiday season making it a good time for buyers while sellers need to be prepare, price and market their homes correctly to get the type of attention that generates offers.

South Orange County Real Estate General Economic Conditions: rates remain at historic lows increasing affordability, inventory is low throughout South Orange County Real Estate as general economic uncertainty has delayed many sellers from putting their homes on the market and volume has remained fairly consistent.

Detached Homes

Current Active Inventory 253

Current Average List Price $4,250,018

Behind the Numbers

Average volume past 3 months 74

Average sales price past 3 months  $2,331,942

Prices on a general upswing for the year

Volume  staying fairly consistent and strong

 

 

What this means for

Buyers – buyers have a lot of options if they are looking for Newport Beach detached homes. To make sure you are seeing everything as soon as it hits the market we offer email listing alerts so you see exactly what’s on the market and find the best home for you.

Sellers –  Prices have stabilized and volume remains steady but the available inventory is very high so you really need to have your house well prepared for sale, priced right and make sure the marketing is on point so you can get the attention that generates offers. Once your home is on the market an active approach must be taken to acquire feedback and make adjustments as necessary. For an accurate idea of what you should expect to get for your home get your free home valuation emailed to you.

 

Attached Homes

Current Active Inventory 71

Current Average List Price $1,318,953

Behind the Numbers

Average volume past 3 months 34

Average sales price past 3 months  $846,046

Prices  on a upswing trend for the year

Volume  steady

 

 

 

What this means for

Buyers – attached Newport Beach homes for sale inventory is higher than the average monthly volume so buyers should find a number of options to choose from. To make sure you are seeing everything as soon as it hits the market we offer email listing alerts so you see exactly what’s on the market that fits your criteria as soon as it hits the market.

Sellers – The inventory is high for the average monthly demand so you need to have your home ready for sell, priced correctly and the marketing has to be on point to beat out the competition. Prices have stabilized so don’t expect to get a large increase over recent sales but you can expect to sell for the same or slightly more. For an accurate idea of what you should expect to get for your home get your free home valuation emailed to you.

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Providing the highest level of personal service in South Orange County Real Estate. Helping buyers and sellers in the 949 since 1999! Google

Posted in Newport Beach Real Estate, OC real estate
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