Here is recent market activity showing the Median Price for Newport Beach, 92660. To see more market statistics, better yet, to get them delivered weekly, click on this link and sign up today!

The definition of the Median Price is the price of the house that falls in the middle of the total number of homes for sale in that area.

The Median price of 101 sold homes would be the price which is lower than 50 of the prices and also higher than 50 of them. Do not confuse this term with average.  The difference between average and median can be quite different. For example, if you are looking at a “sold” market analysis and the homes are evenly distributed, the median and average might be similar. But, if the homes sold were more to one end of the price range, then the median and average could be different.

Let me know what you think the local Real Estate market is doing…post a comment and get the conversation started.

A recent post about Linda Isle home prices holding steady has brought a few inquires about how to see homes for sale on Linda Isle. For folks from out-of-town, or locals who are just now learning about this beautiful area of Newport Beach, Linda Isle homes for sale are a little more difficult to see than most communities.

Here’s why:

• Guard gated – the guards are friendly but, they take their job seriously. You need an owner to give the green light.
• No “For Sale” signs. Even if you make it past the guards, no real estate signage.
• No “Open House.” The HOA does not allow this activity.
• You must contact a REALTOR to make an appointment to see a home for sale.

Of course, you can find Linda Isle homes for sale on the various real estate web sites. That takes some searching. Want it now?  Follow this link to the current available inventory: Linda Isle homes for sale.

Currently, my favorite home for sale is 76 Linda Isle. It is a remodel candidate, but the location is fantastic. The price is not as expensive as the harbor facing, outer horseshoe. But is reasonable given the south side of the inner horsehoe. As with any real estate purchase, location is everything – even on Linda Isle.

What is your opinion of Linda Isle?

Start the conversation…Please comment.

Linda Isle is one magnificent aspect of the Newport Beach housing market. There are 104 bay front homes where “location” plays an important part of pricing homes to sell.  Facing Pacific Coast Highway, facing Bayside Drive, inside the horseshoe, facing towards the turning basin, you get the idea. The location makes a difference. Supply and demand is at work on Linda Isle. During this downward spiral in the selling prices of homes, Linda Isle increased in value despite the challenges in today’s real estate market.

Here are the facts:

• For the period of 12/31/2006 – 12/31/2007, 7 homes were sold for an average selling price of $7,396,446 with the per square foot price of $1,520.96. The average time on market was 43 days.
• For the period of 12/31/2007 – 12/31/2008, 4 homes were sold for an average selling price of $10,449,750 with the per square foot price of $1,845.41. The average time on market was 196 days.
• The average selling priced increased by 30%.
• Currently, there are 9  properties for sale on Linda Isle. The average asking price is $8,071,555. The average per square foot asking price is $1,629.30. The average time on market is 147 days.

There is one property that has caught my eye as a potential good deal in a fabulous location. The address is 76 Linda Isle. Check it out!

To see more homes for sale on the islands of Newport Beach, head over here to search the listings.

What do you think of Linda Isle? What areas of Newport Beach, Corona Del Mar, Newport Coast and Crystal Cove would you like to see highlighted?

Please comment. Start the conversation.

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?