Newport Beach Housing Report
For the week ending on 2/8/15 there were 34 homes that were listed for sale in Newport Beach. The total value of real estate listed was $81,733,688 with an average price of $2,335,248. The lowest price home listed for sale was 1408 Clay St in Newport Heights. This is a 1 bedroom 1 bath condo is nicely upgraded and is large for it being a one bedroom at 1026 square feet. The most expensive home listed for sale in Newport Beach last week was 304 Morning Star in Dover Shores. Listed for $6,995,000 this 3 bedroom 4.5 bath 4200 square foot home is stunning and located on the water with over 100 feet of harbor frontage. There is also a dock large enough to park a 70', 40' and 24' yacht.
Also last week 6 homes closed escrow. The average percentage of list price received on these homes was 89.83%! What that means is a fair amount of homes in Newport right now are priced a little too high. There were two homes that sold at 97% and 96% of list last week and there were also two that sold at 84% and 85% of list price. When buying in this market its important to know how much to bid, and just as important when selling your home where to price your home so that it sells without you doing major price cuts.