Mon May 17 2021
This week the median list price for Newport Beach, CA is $4,445,000 with the market action index hovering around 48. This is an increase over last month's market action index of 46. Inventory has decreased to 88.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$4,445,000|
|Median Price of New Listings||$2,649,000|
|Per Square Foot||$1,240|
|Average Days on Market||93|
|Median Days on Market||49|
|Strong Seller's Market|
Prices are climbing and we’re nearing the market’s all time high. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$9,995,000||5,739||4,500 - 6,500 sqft||5||7||29||2||3||63|
|$5,545,000||3,887||0 - 4,500 sqft||5||5||30||1||3||52|
|$3,765,000||3,519||4,500 - 6,500 sqft||4||5||40||3||10||42|
|$2,297,000||2,113||4,500 - 6,500 sqft||3||3||59||9||8||31|