Newport Beach Market Data for March 2013

Posted by David Feldberg on Thursday, April 18th, 2013 at 4:42pm.

Well the numbers are in, for March 2013 for homes for sale in Newport Beach and surrounding areas. Prices in March marked the largest annual price gain since 2004. The median home price in Orange County is back to $505,000. The high was in June of 2007 when the median home price was $645,000. Lower prices, lower rates, and low supply are all contributing factors in the market recovery for Newport Beach and Orange County as a whole. One other major factor is there is a shift from foreclosures to standard sales, as an example in March of 2012 over 50% of all transactions were either short sales or foreclosures while in March of this year only 26% were distressed sales. Here are a few cities by the numbers for March 2013.

 

NEWPORT BEACH Single Family Homes Townhouse or Condo
# of New Listings 86 37
# of Pending Sales 90 27
Average Sales Price $1,721,016 $724,024
# of Homes for Sale 187 52

 

COSTA MESA Single Family Homes Townhouse or Condo
# of New Listings 50 16
# of Pending Sales 59 18
Average Sales Price $601,400 $357,190
# of Homes of Sale 52 14

 

CORONA DEL MAR Single Family Homes Townhouse or Condo
# of New Listings 13 15
# of Pending Sales 14 15
Average Sales Price $2,679,097 $1,493,727
# of Homes for Sale 48 20

 

HUNTINGTON BEACH Single Family Homes Townhouse or Condo
# of New Listings 126 80
# of Pending Sales 138 65
Average Sales Price $810,794 $376,636
# of Homes for Sale 151 83

 

IRVINE Single Family Homes Townhouse or Condo
# of New Listings 130 144
# of Pending Sales 127 133
Average Sales Price $990,896 $499,121
# of Homes for Sale 111 124

 

If you have any questions about the real estate market in Newport Beach or any other city in Orange County, please contact one of our realtors today!

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