Tara Shapiro
Newport Beach, CA 92661
Single-Family Homes
EQTY Forbes Global Properties
Newport Beach, CA 92661
Sat Apr 27 2024
This week the median list price for Newport Beach, CA 92661 is $6,995,000 with the market action index hovering around 30. This is an increase over last month's market action index of 29. Inventory has decreased to 28.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Home sales have been exceeding new inventory for several weeks. Since this is a Buyer’s market, prices are not yet moving higher as excess inventory is consumed. However, as the supply and demand trends continue, the market moves into the Seller’s zone, and we are likely to see upward pressure on pricing.
Real-Time Market Profile
| Median List Price | $6,995,000 | |
| Median Price of New Listings | $7,645,000 | |
| Per Square Foot | $2,589 | |
| Average Days on Market | 82 | |
| Median Days on Market | 49 | |
| Price Decreased | 25% | |
| Price Increased | 0% | |
| Relisted | 4% | |
| Inventory | 28 | |
| Median Rent | ||
| Market Action | 30 | |
| Slight Seller's Advantage | ||
Again this week we see prices in this zip code remain roughly at the level they’ve been for several weeks. Since we’re significantly below the top of the market, look for a persistent up-shift in the Market Action Index before we see prices 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 |
|---|---|---|---|---|---|---|---|---|
| $11,900,000 | 2,922 | 0 - 4,500 sqft | 5 | 5 | 13 | 1 | 0 | 49 |
| $7,495,000 | 3,024 | 0 - 4,500 sqft | 4 | 4 | 22 | 0 | 0 | 70 |
| $6,750,000 | 3,305 | 0 - 4,500 sqft | 4 | 5 | 18 | 0 | 0 | 42 |
| $3,995,000 | 1,420 | 0 - 4,500 sqft | 3 | 3 | 84 | 1 | 1 | 70 |