Real estate news released by DataQuick on December 16, 2008, reflected a 34.4% decrease of the average single family home sales price in Orange County.
With the interest in Newport Beach Real Estate market trends, learning how Newport Beach compares for the same time period, November 2007 to November 2008, is important for buyers and sellers of real estate.
Take a look at the charts for the four combined Zip codes of Newport Beach Real Estate. All the charts reflect activity for single family detached homes.
The first chart shows a Median Sold Price decrease of 34%.
The chart below shows the number of homes for sale has increased by 4%.
The chart below shows the supply of single family detached homes for sale has increased by 4%. The number of sold properties is down by 22%.
The next chart indicates the months supply of inventory is up by 69%. The current supply is 27.7 months. A balanced market is six months.
And finally, the last chart shows the number of under contract properties is down by 36%.
I have more charts available – would you like to see more – all of them?
Armed with the information contained in these charts, what is your opinion of today’s Newport Beach real estate market?
Stumble It!
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