Tara Shapiro
Newport Beach, CA 92661
Single-Family Homes
EQTY Forbes Global Properties
Newport Beach, CA 92661
Fri Jul 26 2024
This week the median list price for Newport Beach, CA 92661 is $6,998,000 with the market action index hovering around 26. This is an increase over last month's market action index of 25. Inventory has decreased to 31.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
The Market Action Index has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand however, it is likely that we will see downward pressure on pricing.
Real-Time Market Profile
| Median List Price | $6,998,000 | |
| Median Price of New Listings | $0 | |
| Per Square Foot | $2,758 | |
| Average Days on Market | 104 | |
| Median Days on Market | 98 | |
| Price Decreased | 42% | |
| Price Increased | 3% | |
| Relisted | 6% | |
| Inventory | 31 | |
| Median Rent | ||
| Market Action | 26 | |
| Slight Buyer'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 |
|---|---|---|---|---|---|---|---|---|
| $13,995,000 | 3,582 | 4,500 - 6,500 sqft | 4 | 4 | 13 | 0 | 0 | 126 |
| $8,240,000 | 2,814 | 0 - 4,500 sqft | 4 | 4.5 | 61 | 0 | 1 | 98 |
| $6,697,000 | 3,263 | 0 - 4,500 sqft | 4 | 5 | 7 | 0 | 0 | 136 |
| $4,124,500 | 1,659 | 0 - 4,500 sqft | 3 | 3 | 59 | 0 | 1 | 38 |