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

Mon Oct 07 2024
This week the median list price for Newport Beach, CA 92660 is $4,974,000 with the market action index hovering around 36. This is less than last month's market action index of 38. Inventory has increased to 63. Click here to stay informed with the Newport Beach market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

Market Narrative

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Newport Beach, CA 92660

Mon Oct 07 2024
This week the median list price for Newport Beach, CA 92660 is $4,974,000 with the market action index hovering around 36. This is less than last month's market action index of 38. Inventory has increased to 63. Click here to stay informed with the Newport Beach market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

Market Narrative

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Newport Beach market.
Median List Price $4,974,000
Median Price of New Listings $2,749,000
Per Square Foot $1,379
Average Days on Market 121
Median Days on Market 84
Price Decreased 35%
Price Increased 5%
Relisted 6%
Inventory 63
Median Rent
Market Action 36
Slight Seller's Advantage

In the last few weeks we’ve seen prices in this zip code bouncing around this plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate 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 4,669 0.25 - 0.5 acre 5 4.5 11 1 2 203
$6,637,500 4,302 8,000 - 10,000 sqft 5 4.3 39 1 0 80
$4,225,000 3,674 6,500 - 8,000 sqft 4 3.3 26 1 1 73
$2,545,000 1,954 0 - 4,500 sqft 3 2.5 55 7 4 24