Thu Sep 21 2023
This week the median list price for Newport Beach, CA is $4,995,000 with the market action index hovering around 36. This is an increase over last month's market action index of 35. Inventory has decreased to 123.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
|Median List Price||$4,995,000|
|Median Price of New Listings||$4,370,000|
|Per Square Foot||$1,793|
|Average Days on Market||98|
|Median Days on Market||56|
|Slight Seller's Advantage|
The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$12,972,350||3,994||6,500 - 8,000 sqft||4||5||30||2||7||91|
|$5,995,000||3,116||0 - 4,500 sqft||4||4||70||3||2||63|
|$4,695,000||3,273||4,500 - 6,500 sqft||4||4||59||4||2||56|
|$2,995,000||2,003||0 - 4,500 sqft||3||3||58||8||7||42|