Kyle O'Kelly's Market Report
Newport Beach, CA 92660
Single-Family Homes
O'KELLY PACIFIC REAL ESTATE | 949-289-5700 | kyle@okellypacific.com
Newport Beach, CA 92660
Thu Oct 24 2024
This week the median list price for Newport Beach, CA 92660 is $5,699,000 with the market action index hovering around 38. This is an increase over last month's market action index of 37. Inventory has held steady at or around 61.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market Narrative
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
Real-Time Market Profile
| Median List Price | $5,699,000 | |
| Median Price of New Listings | $4,399,000 | |
| Per Square Foot | $1,407 | |
| Average Days on Market | 122 | |
| Median Days on Market | 70 | |
| Price Decreased | 36% | |
| Price Increased | 5% | |
| Relisted | 10% | |
| Inventory | 61 | |
| Median Rent | ||
| Market Action | 38 | |
| Slight Seller's Advantage | ||
Recently prices in this zip have settled at a plateau even though they dipped this week. Look for a persistent up-shift in the Market Action Index before we see prices significantly move from these levels.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $14,999,000 | 5,900 | 0.25 - 0.5 acre | 5 | 5 | 27 | 1 | 0 | 126 |
| $6,800,000 | 4,608 | 8,000 - 10,000 sqft | 5 | 4.5 | 37 | 2 | 1 | 91 |
| $4,700,000 | 3,668 | 8,000 - 10,000 sqft | 4 | 3.5 | 50 | 2 | 2 | 56 |
| $3,245,000 | 2,515 | 6,500 - 8,000 sqft | 4 | 3 | 54 | 4 | 6 | 35 |