Tara Shapiro
Newport Beach, CA 92660
Single-Family Homes
EQTY Forbes Global Properties
Newport Beach, CA 92660
Thu Nov 21 2024
This week the median list price for Newport Beach, CA 92660 is $5,733,000 with the market action index hovering around 37. This is less than last month's market action index of 38. Inventory has decreased to 53.
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 been at a stasis point in terms of sales to inventory. However, prices seem to have been falling a bit recently. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.
Real-Time Market Profile
| Median List Price | $5,733,000 | |
| Median Price of New Listings | $4,299,000 | |
| Per Square Foot | $1,450 | |
| Average Days on Market | 118 | |
| Median Days on Market | 84 | |
| Price Decreased | 38% | |
| Price Increased | 0% | |
| Relisted | 13% | |
| Inventory | 53 | |
| Median Rent | ||
| Market Action | 37 | |
| Slight Seller's Advantage | ||
Prices in this zip code been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle. Watch the Market Action Index for any signs of demand increasing.
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 |
|---|---|---|---|---|---|---|---|---|
| $14,500,000 | 5,392 | 0.25 - 0.5 acre | 5 | 4.5 | 25 | 0 | 2 | 84 |
| $6,750,000 | 4,403 | 8,000 - 10,000 sqft | 5 | 4.5 | 40 | 1 | 0 | 119 |
| $4,498,000 | 3,448 | 8,000 - 10,000 sqft | 4 | 4 | 41 | 1 | 3 | 84 |
| $3,749,500 | 2,634 | 6,500 - 8,000 sqft | 3 | 2.8 | 50 | 1 | 2 | 38 |