Market Data for March 2014

Posted by David Feldberg on Wednesday, April 9th, 2014 at 4:06pm.

REAL ESTATE MARKET DATA FOR MARCH 2014

The numbers are in for the real estate market for March 2014. I have illustrated the change from March of 2013. Green for an increase and Red for a decrease.

Newport Beach Single Family Homes Townhouse or Condo
# of New Listings 110 (26.4%) 37 (-2.6%)
# of Pending Sales 75 (-12.8%) 27 (17.4%)
Average Sales Price $2,032,914 (18.2%) $963,063 (35.1%)
# of Homes for Sale 246 (18.8%) 60 (1.7%)

 

Costa Mesa Single Family Homes Townhouse or Condo
# of New Listings 65 (22.6%) 30 (76.5%)
# of Pending Sales 59 (5.4%) 31 (63.2%)
Average Sales Price $749,242 (16.9%) $445,271 (28.9%)
# of Homes for Sale 91 (15.2%) 29 (61.1%)

 

Corona Del Mar Single Family Homes Townhouse or Condo
# of New Listings 20 (42.9%) 24 (60.0%)
# of Pending Sales 15 (0.0%) 13 -18.8%)
Average Sales Price $2,762,222 (3.1%) $1,166,375 (-21.9%)
# of Homes for Sale 38 (-28.3%) 42 (110.0%)

 

Huntington Beach Single Family Homes Townhouse or Condo
# of New Listings 167 (31.5%) 79 (-4.8%)
# of Pending Sales 135 (11.6%) 62 (26.5%)
Average Sales Price $916,915 (12.7%) $465,139 (25.9%)
# of Homes for Sale 263 (31.5%) 122 (-6.2%)

 

Looking at the data from March of 2013-March of 2014 the first item of note is that the number of new homes coming to the market is significantly higher then at this time last year. On top of that the number of homes for sale has increased in most of these metrics as well. Also of note the average price of homes has increased very nicely except for Corona Del Mar where there is a smaller sample size. Overall the market looks much more healthy then it did at this time last year. Ideally you want equal numbers of buyers and sellers. Too much supply and there is less appreciation while too many buyers makes the prices rise too fast. For more in depth reports on your city, zip code, or the market please contact us today!

If you have any questions about buying a home or selling a home in Newport Beach, Costa Mesa, Corona Del Mar, Huntington Beach, or anywhere in Orange County please contact one of our knowledgeable realtors today!

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