Real Estate Update For Newport Beach

A decrease in home values has finally hit Newport Beach. I never thought I would see prices go this low but I suppose it had to happen. If you have ever thought of living in Newport Beach now is the time!

Take a look at what the average list price has done. About 42% of listed properties have had a price decrease.

Take a look at the inventory today compared to one year ago.

Currently the average price of listed homes in the 92660 zip code is $1,629,000, the average asking price per square foot is $581.00, and the average days on market is up to 195 days. Local conditions are very favorable in the buyers market. Above are figures just for the 92660 zip code. There are other zip codes in Newport Beach, to see more specific areas please sign up for a Market update. You will receive it every 2 weeks for any zip code you desire.

When making an offer you must look at what the sales in the neighborhood you are looking in have done in the past 90 days. Currently in all of Newport Beach the average price sold for a single family home in the past 90 days was $1,958,660.00 thats $641.72 a foot. You will find lower prices it just depends on the neighborhood,. I have seen homes as low as $600,000. That would have never been possible a couple of years ago.

To see Newport Beach Homes for sale please visit my website at: www.YourNewportHome.com

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